October State Revenue Misses Projection
Indiana revenue for October fell short of the most recent projection and collections from the same month last year. The Indiana State Budget Agency says the state brought in $1.15 billion last month, nearly three percent below the most recent estimate.
The agency says most revenue sources came in above estimates and prior year totals, but they were outweighed by lower individual income tax collections. The state says that was due in part to there being only four Fridays in October. Sales, corporate, riverboat wagering and racino wagering collections were all above estimates and prior year collections.
Year to date, the state has collected nearly $5 billion, which is about two percent above the most recent forecast and over five percent higher than totals through the same period in the prior fiscal year.
You can see the monthly revenue report by clicking here.