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Indiana Governor Mike Pence today announced the state will take a number of cost-saving measures in light of the November revenue report, which shows state revenue is 141 million dollars lower than projected this fiscal year. The state will require agencies to hold back an additional one-point-five percent of their appropriations, sell the state plane, delay planned expenses for the Indiana Biosciences Research Institute and require a two-percent reserve on university operations and line items, which will reportedly save an additional 57 million dollars this fiscal year. The measures come on top of previous steps to preserve the state's structural surplus, which have already saved the state 116 million dollars.
The November revenue report and commentary from Budget Director Brian Bailey have been posted on the State Budget Agency webpage. The report can be found here.
The full list of cost-saving measures can be found here.
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