COLUMBUS, Ohio (WDTN) – Ohio Treasure Robert Sprague announced Wednesday plans to establish the ResultsOHIO fund that will support Pay for Success initiatives aimed at tackling Ohio’s “most pressing” public policy issues.
State Senator Steve Wilson and State Representative Don Manning will 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 money will be used to support pay for success initiatives identified by the Execution 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.
Officials say that 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 money reserved in the ResultsOHIO fund will be used to reimburse private entities for project costs only if the completed initiative has met the performance measurements outlined in the contract.
“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.”
Public policy challenges that can be addressed through a Pay for Success approach include water quality, long-term care, early childhood education preparedness, workforce training, addiction, and infant mortality.
It should be noted, however, that any public policy challenge that has a measurable outcome of success can be a candidate for the initiative.