New data shows Indiana’s teacher pay is ticking up—but still trails averages in neighboring states—as the debate over Hoosier educator salaries continues.
Indiana’s state budget director stepping down to become Carmel’s CFO
Zachary “Zac” Jackson, who has led the State Budget Agency as director for nearly five years, is leaving state government to become chief financial officer and controller for the city of Carmel, the Indiana governor’s office announced Monday.Read More
School funding worries lead to late Indiana budget boost
Republican legislative leaders agreed Thursday to give about $300 million in additional funding toward Indiana schools in the new state budget.Read More
Governor, other top elected officials see large pay raises in budget
Under the addition, the state governor’s salary would be equal to that of an Indiana Supreme Court Justice—starting with Gov. Eric Holcomb’s successor, who would see a salary increase of 48%.Read More
The flawed forecast was based on data that did not reflect the latest needs of enrollees, state agencies said.
The state budget plan predicted revenue of about $1.6 billion but collections were short $139 million: almost 9% below expectations, according to a monthly revenue report.
The comments from Indiana State Budget Director Zac Jackson came during a virtual panel discussion on the impacts an economic recession would have on state budgets.
The Interim State and Local Tax Review Task Force, which began meeting Wednesday, will examine Indiana’s corporate tax, individual income tax, property tax, sales tax, and others.
A memo issued by the State Budget Agency last week says that, despite “our strong financial position,” the state needs “to be mindful of unknown factors.”
Under pressure from local schools and fellow Republican lawmakers, GOP leaders opted to decrease the amount dedicated to paying down the unfunded liability in pre-1996 Teacher Retirement Fund and shift an additional $312 million to K-12 schools.
The $44.5 billion spending plan restores measures coveted by Republican leaders in both chambers, a reflection of the April state revenue forecast that showed Indiana is expected to receive an additional $1.5 billion in revenue over the next two fiscal years.
A projected $1.5 billion in new revenue will add new drama to the final week of this year’s legislative session as the Indiana General Assembly grapples with how much to raise funding for public health, education and debt obligations.
State lawmakers have $1.5 billion more to work with than expected in the next two-year budget, according to revenue figures released by the Indiana State Budget Agency on Wednesday. But it’s unclear where that money will be directed.
The proposed version of the budget doesn’t include any expansion of school vouchers, which House Speaker Todd Huston has personally pushed for, nor does it finalize funding for mental health and public health commitments.
Indiana’s only predominately Black university is slated to miss out on a $10 million cash infusion under a budget proposal introduced by Senate Republicans on Friday.
The most glaring contrast between the Senate and House proposals is the way in which they intend to expand funding to charter schools.
Secretary of State Diego Morales is asking for salary increases for his employees and about $6 million in funding for an election cybersecurity program in the next two-year budget cycle.
The proposed changes could have big impacts for lawmakers, as the bill’s language would change the formula used to calculate pay raises for many–from the governor down to each legislator.
Gov. Eric Holcomb stressed in his State of the State address that further investments are needed in K-12 schools and higher education, workforce training and public health if Indiana expects to meet the talent demands of high-wage employers.
When drafting the state’s next budget, lawmakers will need to consider the state’s ongoing commitments and one-time obligations under the cloud of a potential recession.
The Indiana Economic Development Corp. is asking for $600 million over the next two years for a deal-closing fund, along with a one-time injection of $150 million for a revolving fund for land purchases. Democrats argue that Republicans already have given the agency a “blank check.”
The funding requests are part of the governor’s ambitious $3 billion “Next Level Agenda,” which calls on state lawmakers to approve historic investments in education, public health and state employee salaries.
Republican legislative leaders have been urging caution on new spending, but Gov. Eric Holcomb remains hopeful that his legislative priorities can be funded. See what he had to say in this Q&A.