For Immediate Release:
September 7, 2021
Office of Budget and Management Releases Preliminary August Revenue Data
(COLUMBUS, Ohio) -- The Office of Budget and Management (OBM) released August 2021 preliminary revenue data. Total General Revenue Fund tax receipts finished the month $15.4 million (0.7%) above the budgeted estimate.
Non-Auto Sales Tax collections were $19.6 million (-2.2%) below the monthly estimate.
Auto Sales Tax collections were $672,000 (0.4%) above estimate in August, exceeding budgeted estimates for the fifteenth straight month.
Personal Income Tax collections were $24.1 million (3.3%) above estimate for the month.
The Commercial Activity Tax performed above estimate by $8.8 million (2.5%).
“Fiscal Year 2022 is off to a solid start. Through the first two months of the biennium, General Revenue Fund tax receipts are $40 million ahead of our budgeted estimates. Our state’s continued economic resurgence depends on controlling Covid by ensuring that everyone who can be vaccinated, is vaccinated and by continuing the proven measures to keep Ohio’s workforce healthy,” 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 Friday, September 10.