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

Indiana's August revenue jumps 8.4 percent from year ago

September 3, 2010

Indiana state government took in 8.4 percent more in tax revenue in August compared to a year ago, and collections were higher than the most recent forecast.

The state Budget Agency reported Friday that Indiana collected $938 million in August. That's $51 million above the most recent forecast, but still $2 million less than projected in the budget lawmakers passed in early 2009.

Budget Director Adam Horst said reserves by the end of next June are expected to be $797 million below what was assumed in the budget as passed.

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

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