Indiana Ends Fiscal Year in the Black

by scrosby on July 16, 2010

Indiana State Auditor Tim Berry says the state is financially stable despite the economy. Today, Berry released his report of the fiscal year that just ended.

He says early recognition of the nation’s economic state led to good decisions from the state’s leadership.

“I think certainly putting the brakes on spending when we did, when we first recognized the downturn in revenue, controlling our expenditures at that point and time has allowed us to continue to remain in the black,” says Berry.

Indiana brought in $957-million less in revenue than was budgeted, but still preserved more than half its reserve funds. Berry says agency spending reductions are largely to be credited.

The Hoosier state now has just over $830-million in the reserve fund.

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{ 2 comments }

Drew July 16, 2010 at 10:57 pm

Ole Mitch has managed to keep his budget balanced while transferring a lot of the public debt to city and county government. Indiana’s reduction in property taxes was simply passed on to local jurisdictions that are now trying to make ends meet and thus, local taxes have, in many places gone up.

All in all, he simply made himself smell good while hanging local officials out to dry.

Brandon July 17, 2010 at 6:17 pm

I absolutely agree with Drew. As a resident of Indiana, I feel our Governor has failed us as a state, running up local debts while selling state property to private companies.

Daniels is no idiot, he saw the economic crisis coming back in 2002 while serving as the economic “Slasher” for President Bush. It’s easy to look like a hero when you can morally bankrupt a state while keeping it out of the red.

Some days I am ashamed to be a Hoosier, to see our values and principles compromised by people who can lie right through their teeth with a smile.

When Mitch isn’t kissing babies, he’s stealing their lollipops and education.

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