Report: Funds miss target, but beat 2012 levels

By: Associated Press Email
By: Associated Press Email

INDIANAPOLIS (AP) - A monthly report shows overall state revenues were down in August.

The report released Friday by the State Budget Agency says Indiana's general fund revenues fell about 5 percent below the latest target.

Some funds seem to be running ahead of last year, but behind the levels forecast by the state.

Individual income tax collections were about 12 percent below forecast and about 1 percent below August 2012.

But corporate income taxes beat the target and surged 36 percent over last year's levels. For the first two months of the fiscal year, they're running nearly 47 percent above target.

Sales tax collections also sent a mixed message: they were below forecast, but higher than last year's.

The report says revenues from gambling were about 7 percent above target.


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