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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