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

Indiana revenue shows slight gains in November

December 2, 2010

Indiana's finances showed signs of life in November as growth in sales and individual income tax collections helped bring in $49 million more than projected in the most recent revenue forecast.

The state Budget Agency reported Thursday that Indiana collected $917 million in November. That's $2 million less than the amount projected when the state budget was passed in June 2009. But it's an improvement over October, when revenues were $81 million shy of the 2009 estimate.

Budget Director Adam Horst says state general fund revenues are now $33.2 million ahead of the latest forecast but are still $265 million below the forecast on which the budget was based.

The state revenue forecast will be updated in December. Lawmakers will begin crafting a new budget in January.

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