When lawmakers open their new session Wednesday, they won't have some of the advantages they had during the last budget-writing debate in 2009. This time around, there will be no $1 billion in federal stimulus money to keep the budget afloat.
The state Medicaid actuary projected Indiana’s share of the program’s costs will rise by about $1.46 billion this fiscal year, by about $1.84 billion in the 2012 fiscal year and by about $2 billion in the 2013 fiscal year unless some services are cut.
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 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.
Dwindling tax revenues will cause a projected $1.3 billion budget gap as the state enters its next budget, according a report released Thursday by the Indiana Fiscal Policy Institute.
The state Budget Agency reported Friday that Indiana collected $938 million in August. That’s $51 million above the most recent forecast, but still $2 million less than projected in the budget lawmakers passed in early 2009.
The State Budget Agency reported Wednesday that Indiana collected $917 million in July, $15 million below the most recent
revenue projections.
Indiana brought in $957 million less in revenue than it budgeted for fiscal year 2010, forcing it to use almost half its reserves,
Indiana State Auditor Tim Berry announced Friday morning.
The State Budget Agency said Thursday that collections through 11 months of the current fiscal year stand about $1 billion
below the budget passed by the General Assembly in June 2009.
Minority Leader Vi Simpson, D-Bloomington, said the Republican governor’s budget director told her that a comprehensive list
of executive branch budget reductions wasn’t available. She said that’s unacceptable.
Indiana has missed budget projections for nine out of the last 10 months. April tax collections hit their lowest mark since
2004.
State revenues are $867 million, or 9.4 percent, less than forecast through the first nine months of the current fiscal year.
Tax collections in March totaled $908 million, or $7 million more than for the same month last year.
Tax collections for February fell $86 million below a revised December forecast. Revenue is down $166 million in the first
three months since that forecast.
The state's eight public television and radio stations, including WFYI in Indianapolis, will not receive their final two
installments of public funding for fiscal 2010 because of Indiana's budget crisis.
New revenue figures show Indiana tax collections fell $75 million short of expectations in January.
Indiana University must cut $58.9 million from its budget over the remainder of the state’s two-year budget cycle.
Governor says Indiana likely will have to use all of its financial reserves to get by.
Gov. Mitch Daniels says struggling cities like Gary should think about merging with other local governments to cut their costs.
The Indiana Board of Education plans to give school districts a list of options on how they can collectively cut at least
$300 million from state spending.
