Indiana's Largest Budget Surplus And What's To Be Done With It
STATE HOUSE--Indiana has a budget surplus and the state auditor says her office is always looking for the most efficient way to serve you. Auditor Tera Klutz said at a Thursday news conference that even though we have more money than we expected, we can't just start spending it.
IndyPolitics reports the $410 million surplus is the largest Indiana has ever had.
"We did not anticipate the revenue collections that we got in the last quarter," said Klutz.
About $300 million of the now $2.3 billion in reserves will be used as one-time money finish paving U.S. 31, between South Bend and Indianapolis. That will save the state from having to borrow the money and pay interest on it.
Klutz said the reserves could be used in case of emergency or economic downturn.
Some Democrats said the additional dollars means the state could have invested education, pre-K programs as well as protecting at-risk children.
PHOTO: Chris Davis/Emmis