Indiana Closes Out Fiscal Year

Posted: Updated:
State Auditor Tera Klutz State Auditor Tera Klutz
INDIANAPOLIS -

Indiana State Auditor Tera Klutz has released the state’s 2018 Fiscal Closeout Report. The Office of Management and Budget says the state finished out the fiscal year with nearly $1.8 billion in reserves and a budget surplus of more than $100 million.

Klutz says Indiana continues to adapt its spending to meet financial challenges that often occur. "By continuing to live within our means and remain fiscally conservative, our state can be proactive, rather than reactive when faced with the realities of governing. I want to thank all the State Officials for their diligent work, but I want to remind them, there is still work to be done. We must continue to work harder and smarter to ensure we are delivering services Hoosiers need in the most cost effective manner."

Micah Vincent, director of the Office of Management and Budget, praised state leaders for their efforts to manage the fiscal year, allowing Indiana to maintain a balanced budget with health reserves and a AAA credit rating. Governor Eric Holcomb released a statement on the news Thursday.

“Once again, Indiana is ending the fiscal year in a solid position with strong June revenue, healthy reserves and a growing economy," said Holcomb. "This is a tremendous achievement in light of serious needs in our Department of Child Services. Looking ahead to the upcoming budget year, we must remain vigilant and manage state resources carefully to maintain our position as the fiscal envy of the nation."

The governor cited his plan to use $25 million from the state's surplus to help boost the Indiana Department of Child Services. The decision followed an evaluation of the DCS' operations and the money will go toward priorities such as raising salaries and increasing training for "on-the-ground" DCS case workers.

You can connect to the auditor's full fiscal closeout report by clicking here.

  • Perspectives

    • School District Raises Questions About ILEARN

      Like all schools in Indiana, we were disheartened at the ILEARN results for school year 2018. We would like to raise several questions concerning this test as it relates to college and career readiness for our students. The annual Indiana Statewide Assessment (this year’s ILEARN) has been developed to evaluate college and career readiness at all levels tested. We are very troubled by our lack of understanding of what indicators in the test evaluate...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Purdue University ranks #7 for Best Value in a college education in the U.S., according to the Wall Street Journal

      Two Indiana Schools Break Top 50 List of Best Colleges

      The Wall Street Journal and the Times Higher Education magazine have released their annual list of the top 801 colleges and universities in the country. Two Hoosier universities are included in the top 50.

    • School District Raises Questions About ILEARN

      Like all schools in Indiana, we were disheartened at the ILEARN results for school year 2018. We would like to raise several questions concerning this test as it relates to college and career readiness for our students. The annual Indiana Statewide Assessment (this year’s ILEARN) has been developed to evaluate college and career readiness at all levels tested. We are very troubled by our lack of understanding of what indicators in the test evaluate...

    • Purdue to Open Chick-Fil-A Amid Protests

      Citing overwhelming demand for Chick-fil-A’s food and services, Purdue University has announced it will allow the restaurant to open on campus. The university has been at the center of a debate over the Georgia-based food chain. 

    • Photo courtesy of Crestwood Village

      Justus Rental Properties Details Closures

      Indianapolis-based Justus Rental Properties, Inc. has announced it will be closing its assisted living service line at Crestwood Village West and Crestwood Village East. The company is also is in the process of selling the both communities.

    • (image courtesy of Pixabay/NIkolay Frolochkin

      State Revenue Ticks Higher in August

      Indiana revenue in August exceeded projections by nearly four percent. The Indiana State Budget Agency reports General Revenue funds last month hit $1.1 billion, 3.8 percent above projections. Sales tax revenue came in higher than anticipated at $693 million, more than three percent higher.