State Ends Fiscal Year With Budget Surplus, $2 Billion In Reserve

July 15, 2014
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State Auditor Suzanne Crouch released new numbers detailing Indiana's fiscal condition Monday.

State Auditor Suzanne Crouch released new numbers detailing Indiana’s fiscal condition Monday.

Indiana’s fiscal condition remains strong. State auditor Suzanne Crouch has released the state’s 2014 Closeout Report today, which shows that Indiana ended Fiscal Year 2014 with a $2 billion reserve and a surplus of $106.8 million.

“Every day, my office contributes to Indiana’s financial stability by assuring payments can and should be made. We ensure those payments are timely, transparent and accurate to confirm that every tax dollar goes to its intended purpose,” said Auditor Crouch.

“The trust a taxpayer grants to an elected official is a sacred trust. Every tax dollar should be spent with serious consideration and respect for the individuals who earned those dollars. Each tax dollar has a name and a face attached to it.”

The Closeout Report also shows that expenditures grew 2.1 percent from 2013, which is less than the 10- year average level of inflation at 2.45 percent.

“At the end of the fiscal year, we do not want to have to go back to Hoosier taxpayers and raise taxes because we need more money,” Crouch said. “By living within our means, keeping prudent reserves and identifying areas of potential growth, we can continue to make Indiana the fiscal envy of the nation.”

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