2013 Budget

The Indiana General Assembly adopted a two year, $30 billion budget, one Republicans say contains the largest tax cut in state history. However, Democrats say the tax cut is an illusion.

Brandon Smith / Indiana Public Broadcasting

House and Senate leaders say they’ve reached an agreement on the final two year budget.  They say it includes significant increases for education and roads funding.

Though the budget isn’t expected to officially pass until late Friday, House and Senate fiscal leaders have hammered out a deal that includes more than $300 million in funding increases for K through 12 education.  House Speaker Brian Bosma (R-Indianapolis) says the budget goes beyond the goal of restoring education funding to pre-recession levels.

March revenue report

Apr 5, 2013

Indiana posted a stronger third quarter of tax revenues than expected this fiscal year, which could have an impact on budget negotiations.

Indiana sales tax revenues actually struggled during the most recent four months of the fiscal year, falling more than $40 million behind the most recent forecast.  But overall revenues were boosted by a surge in individual income tax collections, which came in more than $70 million ahead during that same period.

The Indiana House Monday approved a two-year, $30 billion budget its author says is fiscally responsible and funds the House GOP’s priorities.  However, Democrats say the budget does nothing to help the middle class or create jobs.

The House budget contains $344 million in increased K through 12 education funding, $250 million a year in permanent, sustainable infrastructure funding and pays down some of the state’s long-term debt.  It does not include Governor Mike Pence’s proposed 10% income tax cut.

House Democrats offered their own budget proposal Thursday, including increased K-12 education funding and a progressive tax cut.  The Republican-controlled House rejected the proposal with a vote along party lines.

IN House budget proposal

Feb 15, 2013

The budget proposal from Indiana House Republicans increases K-12 public education. The two-year spending plan is adding $344-million or a little more than 3%. Higher education also would get about a 3.5% more.

The GOP proposal does not include a 10% income tax cut, which Governor Mike Pence has been pushing. It also does not assume there will be any taxpayer refund at the end of the budget cycle.

Still, budget author and Ways and Means Chairman Tim Brown (R-Crawfordsville) says he’s not ruling the tax cut out.

Tippecanoe County has roughly $7.5-million in uncommitted funds to start off 2013.

Council members say the large cash balance is due to a tight control on spending and conservative estimates of revenue over the past several years.

There are no immediate plans to spend the money, but officials listed roads, courts, and salaries as areas that could use additional funds.

All agree, though, that having a healthy Rainy Day Fund remains a priority.

WLCSC finalizes 2013 budget

Oct 11, 2012

The West Lafayette Community School Corporation will work with a budget in 2013 that is nine-percent more than the 2012 version.

The district board approved the more than $29-million spending plan.

Chief Financial Officer Ross Sloat says more money going toward the referendum fund is the primary reason for the spike.

“With the referendum, this is the second year for that fund, and the needs in the first year weren't as great, but as we have more reductions, have more impact from the state, we need to rely on the referendum fund more," said Sloat.

County Council approves 2013 budget

Oct 9, 2012

The 2013 budget for Tippecanoe County is roughly $38.5-million.

That’s an increase of .61% from 2012.

The spending plan includes more than $1-million for employee raises.

Council president Roland Winger says bringing salaries up to the market rate took four years to achieve.

He notes not every employee will see an increase in pay, only those whose jobs were still earning below-market value.

Winger says the county is ending the year with more than $2-million in the general fund and roughly $11-million in the rainy day fund.

The West Lafayette City Council is expected to take a final vote tonight on the 2013 budget. The spending plan is a little more than $18 million, which is 92.% more than this year’s budget.

It includes money for road work at Salisbury Street and Navajo Drive, and Happy Hollow Road. There also is a 2% raise for city employees, but not elected officials.

Councilor Ann Hunt says she’d like to review those in the coming year.