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Governor Daniels Addresses State's Financial Health

By Laura Donaldson
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June 18, 2010 HUNTINGTON, Ind. (Indiana’s NewsCenter) – The Indiana state tax revenue fell short of expectations for the sixth consecutive month. The governor's office reported that the state took in $75 million less in January then the revised forecast had predicted. The governor has already slashed the budgets of state run universities, as well as public school systems to make up for the short fall. Governor Mitch Daniels was in Huntington discussing the financial health of the state Thursday. During a presentation at Huntington University, Daniels said the new state revenue report underscores the need for the general assembly to pass several bills that he says will save the state about $70 million. The most significant of those would combine the administration of the Indiana Public Employees' Retirement Fund and the Indiana State Teachers' Retirement Fund. Daniels says combining these would save money by reducing investment fees without changing the benefits or funding for the teachers and public employees. “It underscores why we have to have that bill that we've sent to the legislature to allow us to save a little bit of money and off set that,” Daniels said. “So, some signs of a little bit of stabilization in the money coming in from taxes but another reminder we've got to be really careful and do some things on the spending side that we'd really rather not do.” The bills have cleared the republican led senate and now move to the democrat led house for consideration.
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