'Indiana’s healthy reserves and standing as the seventh lowest debt per capita state showcases our high level of fiscal responsibility'
The state of Indiana closed fiscal year 2024 with $2.551 billion in state reserves, State Comptroller Elise Nieshalla announced Tuesday alongside Office of Management and Budget Director Cris Johnston and Acting State Budget Director Joseph Habig.
“Thanks to our long-standing conservative stewardship, which includes maintaining a healthy cash reserve between 10-15 percent of budgeted appropriations, Indiana closed out fiscal year 2024 with 11 percent in reserves,” Nieshalla said. “In addition, we experienced a slight increase in income and a solid return on investments further supporting our strong financial position.”
The year-end fiscal report shows Indiana’s reserve of nearly $2.6 billion broken down as follows:
• $665 million General Fund
• $181 million Medicaid Contingency & Reserve
• $672 million Tuition Reserve
• $1.03 billion Rainy Day Fund.
The comptroller’s office coordinates with agencies statewide to complete final transactions for the year and confirm expenditures and revenues are aligned in order to produce the 2023-24 fiscal year close-out statement, which is prepared by the state budget agency.
“In fiscal year 2024, Indiana continued its long practice of sound fiscal management and prudent approach to budgeting,” Habig said. “The results of maintaining an annual surplus and healthy reserve levels ensure that Indiana’s priorities will be funded today and tomorrow.”
Nieshalla commented, “Indiana’s healthy reserves and standing as the seventh lowest debt per capita state showcases our high level of fiscal responsibility especially during a time when our country is facing a national debt crisis. As a lead financial officer for our state, I see the national debt at nearly $35 trillion as the greatest looming threat to Indiana’s robust economy.”
To view the full report, visit https://www.in.gov/sba/budget-information/fiscal-year-close-out-statements/fiscal-year-2023-2024-close-out-statement/.
–Indiana State Comptroller report
Parke Heritage Middle School awarded multi-million dollar Next Generation School Improvement Grant from IDOE
Hunters can donate deer to help feed hungry Hoosiers
BMV urges Hoosiers to complete voter registration by October 5 deadline
Last day to ask your question for Indiana's next Secretary Of State
Winchell named to lead Indiana DNR Division of Law Enforcement
Ferguson Lumber earns dual 2026 industry honors
Rep. Baird asks state, federal officials to explore harvest fuel relief for farmers
Parke, Putnam and Vermillion counties now eligible for FEMA assistance
Several fundraisers are planned to benefit the Montezuma family and fight back against Alzheimer's
Postal Service recommends 2026 holiday mailing and shipping dates
Attorney General Todd Rokita calls on Hoosiers to claim compensation for inflated generic drug prices
Pennsylvania Attorney General's Cold Case Section, Erie investigators announce arrest of Brazil, IN man in 2002 rape, murder
Impaired driver taken to hospital then jail after crash
Gov. Braun announces plan for new, larger campground at McCormick’s Creek State Park
Governor Braun proclaims Indiana Rail Safety Week September 21-27
