State of Indiana Reports Budget Surplus, Reserve Goes Over $2 Billion

Economic news rolled out of Indianapolis today showing the State of Indiana continuing stable policies from years past. Many states have taken to spending quite a bit more in the last decade whether it be good or bad times. Indiana has taken a more valued approach to fiscal spending and cutting. CNHI Statehouse Bureau had more on this:

As of June 30, the state had a $106 million operating surplus and reserves of $2 billion, Auditor Suzanne Crouch reported Monday. Crouch, a Republican and former state lawmaker, praised Pence for Indiana’s strong financial state, saying his wise management decisions kept the state in the black.  The state finished fiscal 2014 with a surplus after agencies cut spending by about $150 million from what the legislature allocated in the biennial budget crafted last year. Pence ordered those cuts last December, when tax collections were less than expected.

Governor Pence has continued on former Governor Daniel’s department cuts. Colleges had $34 Million cut. I really think colleges need drastically cut more as many of them are becoming wastelands of ideology that do not prepare teenagers coming out of highschool. How they are set up are very archaic and inefficient. The state has started pouring money into vocational training which will pay off in the coming decade. Five year trend that has popped up with dwindling tax revenue has been casinos. Ohio opening up casinos has taken a bite out of Indiana’s revenue in that area.

Democrats of course are not happy with the surplus. Here is what Senate Democratic Leader Tim Lanane, D-Anderson, said in a statement:

“Let’s not congratulate ourselves for hoarding tax dollars while so many of those taxpayers continue to struggle.”

 

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