For Immediate Release:
July 8, 2021
Office of Budget and Management Releases Preliminary June Revenue Data
(COLUMBUS, Ohio) -- The Office of Budget and Management (OBM) released June 2021 preliminary revenue data. Total General Revenue Fund tax receipts finished the month $367.6 million (15.9%) above the budgeted estimate. June 2021 constituted the final month of fiscal year 2021. For the year, fiscal year 2021 tax receipts exceeded the estimate by $1.54 billion (6.2%). All major tax sources performed above estimate.
Non-Auto Sales Tax collections were $98.4 million (11.8%) above the monthly estimate. The month contributed to a fiscal year that demonstrated a $745.3 million (7.8%) positive variation from budgeted estimate.
Auto Sales Tax collections were $36.7 million (26.6%) above estimate in June, the thirteenth straight month in which that revenue category has exceeded estimate. The source was $264.6 (16.6%) over the estimate for the fiscal year.
Personal Income Tax collections were $227.7 million (26.7%) above estimate for the month. Fiscal year 2021 receipts from this source performed $455.5 million (4.5%) above estimate.
The Commercial Activity Tax performed close to the budgeted estimate during fiscal year 2021, exceeding the annual estimate by $13.8 (0.8%).
"As we close the challenging fiscal years 2020-2021 budget and begin the 2022-2023 biennium, the state of Ohio’s fiscal outlook is strong. Our rebound from one year ago is the result of the Governor’s conservative decisions. It is clear that Ohio’s strategic measures to address the COVID-19 pandemic head on – both from a health and a budget standpoint – worked,” said OBM Director Kimberly Murnieks.
A more detailed explanation of this data will be included in the Monthly Financial Report, which will be posted on the OBM website on Monday, July 12.