State scores big in Tobacco Agreement…..colleges benefit, why?

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We have been reviewing the State of Ohio’s budget reports for prior years to see what decisions have been made by politicians that impact the citizens of the State.

Here is an excerpt of the State of Ohio’s Executive Budget for the years 2010 – 2011.  Ted Strickland was the Governor at that time.

Tobacco Settlement Budgeting Process:
“The securitization in October 2007 of the state’s tobacco settlement receipts to be paid pursuant to the 1997 Tobacco Master Settlement Agreement produced approximately $5.05 billion in net proceeds that the state allocated for the
construction of K-12 school buildings and higher education facilities.”

(Comment: We are not sure what the distribution amount was for colleges, but we are wondering why they should get any distribution at all.  The money never seems to go back directly to the citizens that were directly impacted.  If the $5 billion were given back to the citizens it would have meant a payment of  ~$454.00 for each citizen in Ohio. ($5 Billion / 11 million citizens).  The college lobbyists must have been working overtime to get a piece of that action…….but who speaks up for the average citizen?)

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