State Budget and State Government and Government & Economic Development and Government

Indiana's August revenue up 8.4 percent from year ago

October 5, 2010
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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 says 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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