That’s what’s left of Ohio’s legacy of fiscal discipline.
From today’s Gongwer:
The metaphorical storm clouds officially burst in Ohio on the last day of fiscal year 2009, when Gov. Ted Strickland’s administration tapped out the bulk of the $1 billion-plus “rainy day” Budget Stabilization Fund – while opting to keep the change.
Office of Budget and Management Director Pari Sabety notified state leaders Tuesday that $1,012,289,234.00 had been transferred from the BSF to the general revenue fund so the state could end the fiscal year in balance.
The move, authorized by the legislature with the recently enacted Ohio Industrial Commission budget (HB 16*), leaves a rainy day fund balance of 89 cents.
It sucks having a Governor this bad.