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Petroleum Underground Storage Tank Release Compensation Board
Leading the Petroleum Underground Storage Tank Release Compensation Board, the Executive Director provides executive leadership for the administration, financial stewardship, investment oversight, and long-term sustainability of Ohio’s Petroleum Underground Storage Tank Financial Assurance Fund. This role involves administering a complex statewide financial assurance program, directing an agency of 16 full-time employees, and managing significant annual fee collections and expenditures.
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The Petroleum Underground Storage Tank Release Compensation Board (Board) manages the Financial Assurance Fund (Fund), a risk pool financing mechanism used to reimburse underground storage tank (UST) owners for the corrective action costs of releases from petroleum USTs. The Executive Director serves as Director of the Fund pursuant to applicable provisions of the Ohio Revised Code and Ohio Administrative Code. The agency directs 16 full-time employees and manages annual fee collections of approximately $8.5 million, annual claims expenditures of $7 million, and operating expenditures of approximately $2.5 million.