Last month, the state auditor officially closed the books on fiscal year (FY) 2015 and reported that Indiana finished the year with over $2.14 billion in reserve balances and a $210 million structural budget surplus.
This is a significant achievement for our state, because by maintaining a healthy surplus and strong reserves, we are able to protect Hoosier taxpayers in the event of a future economic downturn.
It also allows us to maintain Indiana's triple-A credit rating, which only 10 other states currently have. This provides a financial cushion for schools, local governments and state entities to borrow money for less, saving taxpayers millions of dollars in interest payments.
As a member of the Ways and Means Committee, much of my time last session was spent working to improve Indiana's tax code. We extended the Venture Capital Investment and Hoosier Business Investment tax credits to January 2021, supporting job growth and access to capital for Indiana businesses.
Our proven track record of fiscal integrity and living within our state's means are reflected in the FY 2015 closeout results. As we begin to prepare for the 2016 session, I look forward to continue advocating for taxpayer initiatives that work to improve our business climate and grow the Hoosier economy.
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