A state panel paved the way Thursday for construction projects with a total price tag of about $565 million to move forward in seven school districts.
Buoyed by low spending and unexpectedly high investment earnings, the Office of Budget & Management closed the books on Fiscal Year 2024 with $1.1 billion cash balance, early data show.
Ahead of a Friday signing ceremony for the capital bill, Gov. Mike DeWine and other state leaders said the $6.2 billion package's will be transformative for all Ohioans, particularly in the areas of mental health, recreation, safety and workforce development.
Finance chairs in both chambers are each planning one more hearing next week on the $6 billion capital budget in time for a Wednesday floor vote, they confirmed Thursday.
Lawmakers in both chambers had their first chance Tuesday to question the state budget director on the recently released and much-anticipated capital budget for Fiscal Years 2025-2026, which thanks to the addition of one-time project spending from the state's surplus revenue is the largest in Ohio history.
Hearings will start Tuesday on the Fiscal Year 2025-2026 capital appropriations measure, which includes the usual hundreds of millions in bonding authority for school buildings and local infrastructure.
Ohio spent $156.8 million more than expected last month, largely due to timing, but remains considerably below annual estimates, according to the Office of Budget & Management's latest financial report.
In the second-to-last month of the fiscal year, state coffers enjoyed a modest boost with tax receipts coming in slightly above estimate.
State coffers took another hit last month as tax receipts came in $224.4 million less than anticipated.
The Department of Mental Health & Addiction Services is hoping to invest $188.8 million in the state's six psychiatric facilities as part of its $290.8 million capital budget request.