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Ohio's rainy-day fund grows by $235M



Published: Tue, July 3, 2012 @ 1:55 p.m.

COLUMBUS — Gov. John Kasich and his budget director had good news and bad news today, the day after the start of the state's new fiscal year.

The good: The administration added another $235 million to the the state's rainy-day fund, bringing the balance to about $482 million. That compares to less than a dollar when Kasich took office last year.

And the bad: Administration officials are estimating $1 billion in new costs, anticipated as a result of last week's U.S. Supreme Court validation of the federal Affordable Care Act, as Ohioans currently eligible for subsidized health care are added to the Medicaid roles.

But Kasich told reporters in a conference call today that he has no intention of dipping into the budget stabilization funds to pay for increase Medicaid or other costs.

For the complete story, read Wednesday's Vindicator and Vindy.com


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