Revenue Forecast and State Government and State Budget and Government & Economic Development and Government

Indiana state revenue falls short of projections again

August 4, 2010

Indiana's state government took in 9 percent more in tax revenues in July compared to a year ago, but collections remained below budget targets.

The State Budget Agency reported Wednesday that Indiana collected $917 million in July. That's $72 million less than what was expected in the budget lawmakers passed in 2009 and $15 million below the most recent revenue projections.

Gov. Mitch Daniels has ordered 15-percent cuts in state agency spending for fiscal year 2011, and the state is spending its reserves to help make up for the revenue shortfalls.

Budget director Chris Ruhl says reserves were expected to drop to $188 million by the end of next June, but last month's shortfall means that will be closer to $173 million.

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