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IN May revenue report

Heading into the last month of the fiscal year, Indiana’s general fund revenues are nearly on target with the most recent revenue forecast.

Through eleven months of the fiscal year, state revenues are just two-tenths of a percent behind December’s forecast.

May’s tax collections were significantly below predicted levels, though state budget director Adam Horst says that was expected.  Due to streamlined operations at the Department of Revenue, far more tax returns were processed in April than ever before, which meant fewer were processed in May and the state brought in less revenue than projected.

Still, Horst says revenues are ahead of the state budget plan and June is typically the second largest revenue month of the year, meaning this month will determine how sound the state’s position is as the fiscal year ends.

June’s revenues also will help determine how much money the state gives back to its taxpayers this year.  A law passed in 2011 mandates a refund to Hoosiers if the state’s surplus gets too large.

Brandon Smith is excited to be working for public radio in Indiana. He has previously worked in public radio as a reporter and anchor in mid-Missouri for KBIA Radio out of Columbia. Prior to that, he worked for WSPY Radio in Plano, Illinois as a show host, reporter, producer and anchor. His first job in radio was in another state capitol, in Jefferson City, Missouri, as a reporter for three radio stations around Missouri. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.