OBM director defends budget, backs sports-gaming plan for stadium funding over GRF-backed bonds

Kimberly Murnix, director of the Ohio Office of Budget and Management, told the Ohio Senate Government Oversight and Reform Committee on Tuesday that OBM’s agency budget for fiscal years 2026–27 emphasizes fiscal stewardship and operational efficiency.

Murnix said OBM’s operating budget is $32,200,000 for fiscal 2026 and $33,700,000 for fiscal 2027, with general revenue fund support totaling $4,400,000 in 2026 and $4,800,000 in 2027. She said interagency funds make up roughly 86% of OBM’s operating budget and that general fund expenditures comprise about 13.7% of the total OBM budget.

The director emphasized transparency measures — including daily, searchable disclosure of receipts and payments on Ohio’s online checkbook — and data analytics work that identified more than $9,500,000 in duplicate payments since 2019 that the state worked to recoup. She also highlighted debt-management actions: OBM’s cash-funding of recent capital projects will reduce financing costs by an estimated $1,300,000,000 over 20 years, and Ohio’s outstanding debt fell by roughly $3,000,000,000 by the end of 2024. She said recent refinancings of higher-education bonds saved about $57,000,000.

Murnix said achieving AAA credit ratings from the three major rating agencies produced ongoing savings. “We estimate that having a AAA credit rating and achieving those lowest interest rates saves about $10,000,000 a year,” she said.

Committee members questioned OBM on several topics. Vice Chair Brenner asked for comparative interest-rate data tied to the AAA rating; Murnix declined to supply a point-by-point historic comparison on the floor but said OBM would follow up with transaction-level information and comparative data. Brenner also asked for a list of school districts participating in the state’s credit-enhancement program; Murnix said she would provide that list rather than guess numbers on the record.

Senator Weinstein pressed Murnix about an internal OBM memo about a proposed stadium project (the Brown Stadium matter referenced in public reporting). Murnix said the memo was an internal document she authored in response to a public-records request and “was not addressed to the governor; it was addressed to members of the governor’s staff.” She told the committee OBM does not routinely publish internal memos about pending legislation but does provide analyses and input during the budget process.

On stadium financing, Murnix summarized OBM’s position about the governor’s stadium funding proposal: the executive budget includes a plan that relies on sports-gaming revenues and related mechanisms rather than general-revenue-fund-backed bonds. “OBM does not support general revenue fund backed bonds for a sports facilities project of this magnitude,” she told the committee, and said the governor’s plan would protect the state general revenue fund while directing contributions from entities that profit from sports events toward stadium assets.

No committee votes were taken on OBM testimony during this hearing. The committee opened with and approved the minutes of an April 30 meeting “without objection.”

Looking ahead, Murnix pledged to provide the committee with follow-up materials requested during questioning, including transaction data on recent bond issues and the list of school districts participating in the credit-enhancement program. The committee then proceeded to invited testimony from other state agencies.