State Revenue Misses Forecast

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The Indiana State Budget Agency is reporting lower-than-expected monthly revenue. Despite missing the projection from December, last month’s total of nearly $1.09 billion is higher than the same month a year earlier.

The General Fund revenue totals missed estimates by $25.7 million or 2.3 percent. Year-to-date, collections stand at more than $2.15 billion, which is off $33 million from the December forecast, but $31.3 million higher than August of last year.

Corporate tax and racino wagering collections both bested expectations, but sales tax, individual income tax and riverboat wagering all missed projections.

Collections of corporate taxes were more than 41 percent higher than forecast, but at $1.8 million, were still lower than the $3.9 million collected at the same time in 2015.

You can connect to more about the report from the second month of Fiscal 2017 by clicking here.