The Ohio Auditor of State (“AOS”) has recently issued new guidance tackling the prohibition detailed in the Ohio Revised Code 9.03, which outlaws the use of public funds in favor of levies and bond issues. The revised guidelines comprise answers to frequent queries, illustrations of potential scenarios, and commentary on best practices, drawing a broader picture for understanding the subject matter. To dive deeper, access the original article here.
This move throws light on the continuing efforts of the AOS to promote transparency in the public financial sphere while underlining the clear separation between public interests and public funds. In this regard, the new guidance could serve as an important reference for school boards and employees dealing with levies and bond issues as it provides much-needed clarification.
The examples provided within the guidelines illustrate various ways the Revised Code 9.03 prohibition may apply in real-world scenarios and the best practice commentary could prove invaluable for public fund administrators looking to remain compliant and respectful of the law’s constraints.
An essential point to note from the guidance relates to how the prohibition is interpreted. Namely, it prohibits the use of public funds from directly or indirectly promoting or opposing the adoption of a levy or bond issue. This includes a wide range of activities from the promotion or opposition of levies and bond issues to the payment of employees’ work hours spent on specific levy or bond issue activities.
While it’s evident that the AOS is taking strides to enhance transparency and conformance with public fund usage, law practitioners must stay aware of such evolving regulations and guidelines. This will actively ensure consistent compliance with the law while protecting the interests of the public they serve.