Financial statements released Tuesday reveal that Indiana’s reserves are projected to hit a post-pandemic low next year. The state closed the 2024 fiscal year this month with $2.6 billion in reserves, accounting for 11.9% of expenditures. However, projections for the upcoming fiscal year indicate a decline, with reserves expected to fall to $2.3 billion, representing 10.4% of expenditures. This reduction marks a significant shift in the state’s financial landscape as it continues to navigate the economic aftermath of the pandemic.
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