7/18/2008

Bad news for Jill long but Good news for the state.

Unless I missed it, I notice the star did not cover this story at less on line.

Indiana's state government ended the last fiscal year with its third consecutive balanced budget and a bigger surplus at a time when many states are making major spending cuts or considering tax increases to deal with deficits.

"We are standing on firm, sound, financial ground," state Auditor Tim Berry said Thursday.
State officials closed the books on the fiscal year that ended on June 30 with revenues exceeding spending by about $321 million. That's in part because of spending restraints Gov. Mitch Daniels ordered last December after revenue projections were lowered because of a sagging economy.
State government spent about $133 million less over the past 12 months than was allocated by lawmakers.

The savings were achieved in part by leaving some agency staff positions open and postponing some capital projects, including construction of two state police posts and installing new flooring in state office buildings, State Budget Director Chris Ruhl said.
The state ended the year with nearly $600 million in its main checking account. That combined with savings accounts left the state with a budget surplus of about $1.4 billion.

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