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General & PTR Fund Balance History

A History of State Operating and Reserve Fund Balances
Compared to the Operating Revenue Stream

(Millions of Dollars)

State
Fiscal
Year		 General
Fund		 Tuition
Reserve		 Prop Tax
Repl Fund		 Rainy
Day Fund		 Total
Balances		 Operating
Revenue(5)		 Balance
as % of
Oper. Rev.
1975-76 131.0 100.0 221.6 0.0 452.6 1,705.8 26.53%
1976-77 116.4 120.0 235.1 0.0 471.5 2,062.0 22.87%
1977-78 218.4 120.0 279.6 0.0 618.0 2,258.9 27.36%
1978-79 332.7 120.0 290.6 0.0 743.3 2,549.1 29.16%
1979-80 216.7 120.0 295.7 0.0 632.4 2,437.9 25.94%
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 7,937.8 23.23%
1997-98 1,319.3 240.0 0.0 496.1 2,055.4 8,481.9 24.23%
1998-99(4) 1,146.5 255.0 0.0 510.5 1,912.0 8,707.2 21.96%

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.