Treasurer Robert Sprague Announces ResultsOHIO Initiative
COLUMBUS – Ohio Treasurer Robert Sprague today announced plans to establish the ResultsOHIO fund to support pay for success initiatives aimed at tackling Ohio’s most pressing public policy issues. State Senator Steve Wilson and State Representative Don Manning plan to introduce legislation to create the fund, which would be administered by the Treasurer of State’s office.
“Too often, government pays for services that fail to produce real results. ResultsOHIO will lead to a smarter government – paying only for things that actually work,” said Treasurer Sprague. “We’re enlisting the private sector to ensure success is achieved before a single taxpayer dollar is invested.”
The fund will be used to support pay for success initiatives identified by the Executive Branch and General Assembly.
Private entities enlisted to address these challenges bear all upfront costs of services provided through the duration of a particular project. Performance measurements will be agreed to in a contract prior to the start of any project and used to gauge the project’s success. Public dollars reserved in the ResultsOHIO fund will be used to reimburse private entities for project costs only if the completed initiative has proven to meet the performance measurements identified in the contract.
As the state’s money manager, the Treasurer’s office is well-positioned to ensure a consistent and accountable process for investments related to pay for success initiatives.
“Taxpayer dollars must be spent on successful programs that are proven to deliver real results for Ohioans,” said Senator Wilson. “The pay for success model invests in outcomes and will improve accountability and effectiveness when tackling many of Ohio’s public policy challenges.”
“I am extremely excited to work with Treasurer Sprague and Senator Wilson on this legislation,” said Representative Manning. “It will allow the funding of initiatives throughout the state and will ensure that taxpayer dollars will be spent on proven programs with a meaningful impact on areas that need it most.”
In addition to addiction and infant mortality, other public policy challenges that can be addressed through a pay for success approach include water quality, long-term care, early childhood education preparedness, and workforce training. However, any public policy challenge that has a measurable outcome of success can be a candidate for this initiative.
Robert Sprague became Ohio’s 49th Treasurer of State on January 14, 2019, bringing to the office his extensive experience working on financial matters in both the public and private sectors. Under Treasurer Sprague’s direction, the office manages the state’s $20 billion investment and $10 billion debt portfolios, collects and deposits all state revenues, and oversees custodial assets.