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State revenue continues to fall short of projections

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Indiana has missed its budget goal for the ninth month out of the past 10 as tax collections for the month of April hit their lowest mark since 2004, the state announced Tuesday morning.

The state collected $1.4 billion in revenue in April, missing projections by 5 percent, the Indiana State Budget Agency said.

Through April, or the first 10 months of the state’s fiscal year, state revenue has come in $949 million below projections, a 10-percent shortfall that comes on the heels of a 7.4-percent gap a year ago.

The state collected $9.7 billion in revenue through the first ten months of the fiscal year and spent $10.3 billion, which has reduced reserves by $630 million, or roughly one-half of the $1.3 billion the state had at the beginning of the current two-year budget cycle.

“There’s no arguing with these numbers,” Gov. Mitch Daniels said in a prepared statement. “Without our actions to restrain spending, all of our reserves would be gone sometime this year and we’d be in the shape of most other states.”

Daniels' budget director, Christopher Ruhl, sent a memo to all state agencies last month directing them to hold back 2011 fiscal-year spending by another 5 percent after already chopping spending by 10 percent a few months ago.

The most recent state revenue forecast shows 2011 fiscal-year collections coming in lower than they were as far back as 2006.
 

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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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