Give Now

August Revenues Below Projections

State officials say they projected the shortfall because August 2012 had one fewer payroll day.

Indiana Statehouse

Photo: Jasont82 (Wikimedia)

The Indiana Statehouse, Indianapolis, Indiana

State revenues fell nearly two percent below projections last month. Indiana collected 16 million dollars less than its recent forecasts predicted for August.

State budget director Adam Horst explained in a statement, the cause is a simple timing issue. August 2012 had one fewer Friday, and thus, one fewer given payroll, than last year, causing the discrepancy.

Horst says, to get a more accurate idea of the state’s fiscal health, one should consider a two-month period of July and August.

Combining those months, Indiana is more than four percent ahead of forecasts. Horst says because September is the third largest month for collections, the state will have an even better view of its fiscal picture next month.

Brandon Smith, IPBS

Brandon Smith, IPBS has previously worked as a reporter and anchor for KBIA Radio in Columbia, MO, and at WSPY Radio in Plano, IL as a show host, reporter, producer and anchor. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.

View all posts by this author »

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Support For Indiana Public Media Comes From

Search News

Stay Connected

RSS e-mail itunes Facebook Twitter Flickr YouTube

Follow us on Twitter

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Recent Business & Economy Stories

Recent Videos

Find Us on Facebook