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This week on "The State of Ohio": The Senate version of the budget is on its way, with just a few weeks remaining to hammer out differences with the House. Lawmakers try to clarify the state auditor's role with JobsOhio. And we revisit and update two controversial issues from the last year - the abortion debate in Ohio and the state's new exotic animals law and the facility it created.
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| Oversight Commission hears startling news - no one knows how much money BWC has. |
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By Karen Kasler - July 19, 2005 |
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Officials of the Ohio Bureau of Workers Compensation are being told it’s not clear how much its $14 billion investment fund is really worth. An independent financial expert that the Bureau hired says that’s because two per cent of the fund’s investments are in real estate, rare coins, or other items whose worth has never been independently verified. That dilemma is at the heart of a scandal that’s rocked the bureau, whose main job is to pay benefits to workers, injured on the job. Sen. Tim Shaffer (R-Lancaster) is on the oversight comission, along with Sen. Eric Fingerhut (D-Shaker Heights). Shaffer says it's difficult and premature to place blame now, but he says that "several actors" are probably involved. And Fingerhut says several hundred million dollars in investments fall under the category of un-verified in terms of their actual worth. But he adds – questions remain about the other 98% of bureau investments too. Their value can be easily computed because they involve stocks and other funds whose worth is apparent and reported….but Fingerhut says it will take a lot of study to see how those investments compare to other investments the bureau could have made over the years. |
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Sen. Tim Shaffer (R-Lancaster) (:25) 
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Sen. Eric Fingerhut (D-Shaker Heights) (:26)
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