Rep. Romanchuk Commends Sixth Deposit Into Ohio's Rainy Day Fund Since 2011
Deposit builds upon more than $2 billion in reserves
 
 

COLUMBUS—State Representative Mark Romanchuk (R-Ontario) today applauded the announcement that the Ohio Office of Budget and Management will be making a deposit of $657.5 million into Ohio’s Budget Stabilization Fund, also known as the Rainy Day Fund.


The deposit will be the sixth made since 2011, when there was just 89 cents in the fund. Since taking back the majority in 2011, House Republicans have helped build this surplus by passing balanced biennial budgets and encouraging fiscally responsible policies.


“I am proud of my colleagues in the House and in the Senate for prioritizing fiscal responsibility, which has helped build up this fund in such a remarkable way since 2011,” said Rep. Romanchuk. “Having this reserve on hand is great preparation for our state and makes Ohio stronger.”


The Rainy Day Fund—now at nearly $2.7 billion—is Ohio’s savings account, a reserve set aside during strong economic times to prepare for cyclical changes in revenues and expenses.

 
 
 
  
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