COLUMBUS (January 2, 2007) - Governor Bob Taft today announced that as his administration comes to an end, the Ohio Office of Budget and Management (OBM) is reporting for the first half of Fiscal Year 07 that the state of Ohio's finances are in sound condition.

"Through most of my term the state dealt with very challenging economic times that required very tough decisions to keep Ohio's budget in balance while we continued to support our priorities," Taft said. "Today the state is on strong financial footing and in a position to respond to issues and challenges of the future."

According to OBM, the first half of Fiscal Year 2007 shows:
· revenues are on target;
· spending is below budgeted levels;
· the budget stabilization fund contains the largest balance in the history of the fund - $1,012,289,234.89;
· the states bond rating is AA+/Aa1, the second highest level used in rating state governments.

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Media Contacts: Mark Rickel, Office of the Governor, (614) 644-0957,
or Tim Keen, Office of Budget Management, (614) 752-2579.

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