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INDIANAPOLIS â State Auditor Tera Klutz announced July 14 that Indiana closed the 2021 fiscal year with reserves of $3.9 billion.
âIndiana once again exceeded expectations and soared through the recession with one of the fastest recoveries on record to end with a cash reserve of $3.9 billion at the end of June,â Klutz said. âIndiana is poised to make an excess reserve transfer of $1.1 billion, which will be split between retirement funding and a refundable income tax credit for Hoosier taxpayers.â
The annual report, prepared by the State Budget Agency, highlights the stateâs fiscal year ending on June 30.
Klutz credits strong fiscal leadership and teamwork for how Indiana was able to financially navigate through the national pandemic and economic uncertainty while ensuring a reasonable state reserve.
Indiana State Announces $3.9 Billion State Reserve
Auditor Tera Klutz
State Auditor Tera Klutz, CPA has announced that Indiana closed the 2021 fiscal year with reserves of $3.9 billion.
“Indiana once again exceeded expectations and soared through the recession with one of the fastest recoveries on record to end with a cash reserve of $3.9 billion at the end of June,” said Auditor Klutz. “Indiana is poised to make an excess reserve transfer of $1.1 billion, which will be split between retirement funding and a refundable income tax credit for Hoosier taxpayers.”
The annual report, prepared by the State Budget Agency, highlights the state’s fiscal year ending on June 30, 2021.