Gov.: Revenues, reserves higher than projected

INDIANAPOLIS (WISH) — Gov. Mike Pence says the state’s 2013 FY Closeout Report shows Indiana’s revenues and reserves are higher than projected.

According to the report, the structural surplus is $483 million; $93 million higher than projected. Reserves are $86 million higher than projected, at more than $1.94 billion.

The total growth revenue for 2013 is $92 million above the projected amount and $337 million higher than revenue collected in 2012.

The state also paid off $282 million in debt – a 52 percent reduction. Pence said the state will lower debts by an additional $66 million; reducing state spending by $27 million in the next two years.

Click here for the FY 2013 Closeout Report.

 

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