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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. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....

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