According to a State Budget Agency report released today, state revenue came in $119 million above the April monthly target. This is the second month in a row that revenues have been above target. Even more important, the state’s fiscal year-to-date bottom line is now $55M above forecast*.
A few interesting points from this month’s report:
- For the first time since October, sales tax revenue was above the target – by $24M.
- This marks the first time in 17 months that Indiana’s monthly revenues were higher than they were one year prior.
(* as revised in December 2009)