The state collected $23 million more than anticipated last month, nearly 2 percent ahead of projections.
State officials say they projected the shortfall because August 2012 had one fewer payroll day.
The Board of Public Works made the decision after the ambulance board was unable to make a recommendation.
The forecast for May was more than actual intake, but the yearly predictions have been fairly accurate.
Indiana revenue collection was 25 percent more than it was the same month a year
Mitch Daniels has named Mike Alley the Department of Revenue Commissioner.
Indiana's state revenue was lower than forecasted for the second month in a row.
Experts say competition from Illinois and Ohio may force Indiana to reconsider its casino gaming revenue stream.
The January revenue proved lower than the state's forecast.
Economic advisors tell the State Budget Committee both the Indiana and U.S. economies will grow over the next couple of years, but that growth will be slow.