State Comptroller Elise Nieshalla announced Indiana closed fiscal year 2025 with roughly $2.5 billion in state reserves, alongside Secretary of the Office of Management and Budget Lisa Hershman and State Budget Director Chad Ranney.
Due to strong interagency collaboration with the Office of Management and Budget and the State Budget Agency, Indiana was able to proactively respond to the April revenue forecast by implementing a biennium-wide 5% appropriation reduction going forward. This strategic move preserves financial stability and protects reserve levels now and in the future, reinforcing Indiana’s strong reputation for responsible fiscal management.
The year-end fiscal report confirms Indiana’s reserve breakdown as follows:
- $676 million General Fund
- $41 million Medicaid Contingency & Reserve
- $706 million Tuition Reserve
- $1.1 billion Rainy Day Fund
The Comptroller’s Office plays a critical role as the State’s book of record, partnering with agencies to complete final transactions and confirm expenditures and revenues for each fiscal year. The 2024–2025 close-out statement is prepared by the State Budget Agency to lay the groundwork for the next major task, which includes auditing the financials and compiling Indiana’s Annual Comprehensive Financial Report (ACFR).
To read Fiscal Year 2025 Close-Out Statements visit: in.gov/sba/budget-information/fiscal-year-close-out-statements/fiscal-year-2024-2025-close-out-statement/
To explore the Indiana Transparency Portal, visit: in.gov/itp/.
You must be logged in to post a comment.