INDIANAPOLIS (WISH) - With help from stimulus money and reduction in spending, Indianafinishes the fiscal year in the black.
Despite a drop in revenue of more than 12 percent over the pasttwo years, the state has been able to maintain money in its rainyday fund. On average, state agencies reduce their spending justunder 10 percent for the fiscal year ending June 30th.
But, the state reserve balance is now at $830 million down from$1.32 billion at the close of last year. Adding to thestate’s financial worries is that next year is estimated thatthe state will use all but $188 million of the rainy day fund tostay in the black.
None the less, the state is saying though, Indiana spent lessmoney during the most recent fiscal year than for the prior yearfor the first time in modern Indiana history.
Governor Mitch Daniels lauded the result saying, “Stayingin the black when most states are broke and cutting taxes whilethey are raising them is the best way to help Hoosier familiesthrough this recession and out-compete other states for the newjobs we need. Thanks to our agency heads and state employees whoare helping us find new ways to stretch tax dollars and do morewith less every day.”
A winter weather advisory was issued for Wayne, Union, Switzerland, Ripley, Ohio, Franklin, Fayette and Dearborn counties on Saturday night.
IMPD officials say a 3-year-old boy has died after he was shot in the head Saturday evening.
A major renovation of the Vincennes University Aviation Technology Center at Indianapolis International Airport is expected to begin next month and last about a year