Indiana collected $31 million more in September than its April forecast projected, the highest amount in the new fiscal year. State revenues are nearly $67 million higher than predicted for the first quarter of the fiscal year.
This marks the fifth straight month state revenues came in higher-than-anticipated.
But state budget director Adam Horst says the future does not look as bright. Though sales tax and individual income tax collections this fiscal year are much higher than the same period last year, Horst says current economic forecasts are pessimistic about growth in the national economy and that could lead to a slowdown in revenue collection.
The official revenue forecast will be updated in December.