The Indiana State Budget Agency is reporting lower-than-expected monthly revenue in October. Despite missing projections, last month’s total of more than $1.1 billion is about 5 percent higher than the same month last year.
The General Fund revenue totals missed estimates by $17.9 million or 1.5 percent. Year-to-date, collections stand at nearly $4.8 billion, which is about $76 million below the December forecast, but $192 million higher than October of last year.
Individual income tax collections were nearly 2 percent above expectations and nearly 6 percent higher than the same month last year. Sales tax, corporate tax, riverboat wagering and racino wagering collections all missed projections.
You can connect to more about the October report by clicking here.