State Operating and Cash Balances Compared to Operating Revenue

A History of State Operating and Cash Balances
Compared with Operating Revenue
(Millions of Dollars)

State								Balance
Fiscal		General	Tuition	Prop Tax	Rainy	Total	Operating	as % of
Year		Fund	Reserve	Repl Fund	Day Fund	Balances	Revenue(5)	Oper. Rev.

1980-81	(1)	30.0	120.0	172.6	0.0	322.6	2,521.8	12.79%
1981-82		0.3	120.0	34.3	0.0	154.6	2,743.7	5.63%
1982-83	(2)	60.4	120.0	0.0	0.0	180.4	2,823.5	6.39%
1983-84		102.3	120.0	0.0	0.0	222.3	3,612.8	6.15%
1984-85		55.0	120.0	0.0	145.1	320.1	3,948.1	8.11%
1985-86		39.4	120.0	0.0	153.8	313.2	4,027.3	7.78%
1986-87		101.1	120.0	0.0	164.5	385.6	4,319.6	8.93%
1987-88	(3)	243.2	120.0	0.0	213.8	577.0	4,805.0	12.01%
1988-89		424.6	135.0	0.0	265.4	825.0	5,263.3	15.67%
1989-90		372.2	144.0	0.0	318.0	834.2	5,491.3	15.19%
1990-91		109.4	155.0	0.0	323.0	587.4	5,560.6	10.56%
1991-92		138.9	165.0	0.0	328.6	632.5	5,784.5	10.93%
1992-93		9.7	180.0	0.0	300.6	490.3	6,098.6	8.04%
1993-94		90.0	190.0	0.0	370.3	650.3	6,720.1	9.68%
1994-95		679.3	200.0	0.0	419.3	1,298.6	7,277.0	17.85%
1995-96		1,024.8	215.0	0.0	439.5	1,679.3	7,569.8	22.18%
1996-97		1,138.2	240.0	0.0	466.1	1,844.3	8,044.8	22.93%
1997-98		1,319.3	240.0	0.0	496.1	2,055.4	8,481.9	24.23%
1998-99	(4)	1,247.6	255.0	0.0	524.5	2,027.1	8,906.1	22.76%
1999-2000	(4)	846.8	270.0	0.0	535.1	1,651.9	9,140.1	18.07%
2000-01	(4)	437.5	270.0	0.0	559.6	1,267.1	9,602.9	13.19%

Notes:	(1)	Income tax rate was reduced from 2.0% to 1.9% effective January 1, 1980.
	(2)	Income tax rate was increased from 1.9% to 3.0%, and the Sales tax rate
		was increased from 4% to 5% effective January 1, 1983.
	(3)	Income tax rate was increased from 3.0% to 3.4% effective July 1, 1987.
	(4)	Estimated by the Indiana State Budget Agency.
	(5)	Operating Revenues are the total of General Fund and PTR Fund revenues
		including lottery and DSH revenues transferred to the General Fund.