Indiana revenue in October down from year ago

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Indiana state government took in $6 million less in tax revenue in October compared to a year ago, and less than projected in the most recent forecast.

The state Budget Agency reported Wednesday that Indiana collected $959 million in October. That's $23 million below the most recent forecast and about $81 million less than projected in the budget lawmakers passed in 2009.

Budget Director Adam Horst said state general fund revenues trail the latest forecast by $15.7 million through the first four months of fiscal 2011.

The state revenue forecast will be updated in December.

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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