Treasurer Sprague Announces 2025 Year-End Savings Through OMAP

Treasurer Sprague Announces 2025 Year-End Savings Through OMAP

COLUMBUS - In December, the Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague helped two communities enter the market and save a combined total of $105,824 in interest costs.

"OMAP is an effective tool that helps local governments reduce expenses and generate savings while funding improvements in their communities," said Treasurer Sprague. "We were excited to continue our partnerships with the City of Vandalia and Monroe Local School District to help them achieve meaningful savings before the new year."

City of Vandalia (Montgomery County)

The city's notes were issued for construction and improvements on the City's Public Works Complex. This issuance marks the third time the City of Vandalia has utilized OMAP, and the previous two deals saved the district $3,780 in interest costs. The most recent deal will save the city $34,520 in interest expenses.

Monroe Local School District

The district's notes were issued to fund site acquisition, new construction, improvements, renovations, and additions to school facilities as well as provide equipment, furnishings, and site improvements. This issuance marks the second time Monroe Local School District has utilized OMAP, and the previous deal saved the district $36,826 in interest expenses. The most recent deal will save the district $71,304 in interest costs.

OMAP is a credit enhancement program that leverages the state's excess liquidity and high short-term credit rating to help improve market access and lower borrowing rates for local governments. Since its 2014 launch, OMAP has supported more than 390 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $8.3 million in estimated savings for local governments.

Any government subdivision in good fiscal standing, including cities, villages, school districts, counties, townships, and special districts, issuing short-term debt is eligible to participate. For more information, visit https://omap.ohio.gov/.

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