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H. B. No. 365As Passed by the House
As Passed by the House
124th General Assembly | Regular Session | 2001-2002 |
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REPRESENTATIVES Setzer, Clancy, Goodman, Husted, Kearns, Webster, Carmichael, Lendrum, Schmidt, Seaver, Roman, Wolpert, Carano, Coates, Distel, Driehaus, Fessler, Flowers, Hughes, Otterman, Salerno, Sferra, Stapleton, Strahorn, White, Widowfield, McGregor, Calvert, Trakas, Aslanides, Schneider, Grendell, Barnes, Evans, Jones, Cirelli, Williams, Raga, Niehaus, Fedor, Manning, Collier, Reidelbach
A BILL
To amend section 118.022 of the Revised Code to
authorize the Auditor of State to declare a fiscal
watch when the projected fiscal year-end deficit
of
a
municipal corporation, county, or township
exceeds
one-twelfth of its general fund revenue
from the preceding fiscal year.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 118.022 of the Revised Code be
amended to read as follows:
Sec. 118.022. (A) Any one of the following conditions
constitutes grounds for a fiscal watch: (1) The existence of either of the following situations: (a) All accounts that were due and payable from the
general
fund of a municipal corporation, county, or township
at the end of
the preceding fiscal year that had been due and
payable for at
least thirty days at the end of the fiscal year
or to which a
penalty was added for failure to pay by the end of
the fiscal
year, less the year-end balance in the general fund,
exceeded
one-twelfth of the general fund budget for that year. (b) All accounts that were due and payable at the end
of the
preceding fiscal year from all funds of the municipal
corporation,
county, or township and that had been due
and payable for at least
thirty days at the end of the fiscal
year or to which a penalty
was added for failure to pay by the
end of the fiscal year, less
the year-end balance in the general
fund and in the respective
special funds available to
pay
such
those accounts, exceeded
one-twelfth of the available
revenues during the preceding fiscal
year, excluding
nonrecurring receipts, of the general fund and of
all special
funds from which
such
those accounts are payable. (2) The aggregate of deficit amounts of all deficit funds
at
the end of the preceding fiscal year, less the total of any
year-end balance in the general fund and in any special fund
that
may be transferred as provided in section 5705.14 of the
Revised
Code to meet
such
that deficit, exceeded one-twelfth of
the
total
of the general fund budget for that year and the receipts
to those
deficit funds during that year other than from
transfers from the
general fund. (3) At the end of the preceding fiscal year, moneys and
marketable investments in or held for the unsegregated treasury
of
the municipal corporation, county, or township, minus
outstanding
checks and warrants, were less in amount than the
aggregate of the
positive balances of the general fund and those
special funds, the
purposes of which the unsegregated treasury is
held to meet, and
such
that deficiency exceeded one-twelfth of the
total amount
received into the unsegregated treasury during the
preceding
fiscal year.
(4) Based on an examination of the financial forecast
approved by the legislative authority of a municipal corporation,
county, or township, the
auditor of state certifies that the
general fund deficit at the
end of the current fiscal year will
exceed one-twelfth of the
general fund revenue from the preceding
fiscal year. (B) As used in this section, "accounts" includes, but is not
limited to, final judgments, fringe benefits payments due and
payable,
and amounts due and payable to persons and other
governmental entities, and
including any interest and penalties
thereon
on those judgments, payments, or amounts. Accounts that
are due and payable do not include any
account, or portion
thereof
of any account, that is being contested in good
faith.
Section 2. That existing section 118.022 of the Revised Code
is hereby repealed.
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