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. |
|---|---|---|---|---|---|---|---|
| 1975-1976 | 131.0 | 100.0 | 221.6 | 0.0 | 452.6 | 1,705.8 | 26.53% |
| 1976-1977 | 116.4 | 120.0 | 235.1 | 0.0 | 471.5 | 2,062.0 | 22.87% |
| 1977-1978 | 218.4 | 120.0 | 279.6 | 0.0 | 618.0 | 2,258.9 | 27.36% |
| 1978-1979 | 332.7 | 120.0 | 290.6 | 0.0 | 743.3 | 2,549.1 | 29.16% |
| 1979-1980 | 216.7 | 120.0 | 295.7 | 0.0 | 632.4 | 2,437.9 | 25.94% |
| 1980-1981 [1] | 30.0 | 120.0 | 172.6 | 0.0 | 322.6 | 2,521.8 | 12.79% |
| 1981-1982 | 0.3 | 120.0 | 34.3 | 0.0 | 154.6 | 2,743.7 | 5.63% |
| 1982-1983 [2] | 60.4 | 120.0 | 0.0 | 0.0 | 180.4 | 2,823.5 | 6.39% |
| 1983-1984 | 102.3 | 120.0 | 0.0 | 0.0 | 222.3 | 3,612.8 | 6.15% |
| 1984-1985 | 55.0 | 120.0 | 0.0 | 145.1 | 320.1 | 3,948.1 | 8.11% |
| 1985-1986 | 39.4 | 120.0 | 0.0 | 153.8 | 313.2 | 4,027.3 | 7.78% |
| 1986-1987 | 101.1 | 120.0 | 0.0 | 164.5 | 385.6 | 4,319.6 | 8.93% |
| 1987-1988 [3] | 243.2 | 120.0 | 0.0 | 213.8 | 577.0 | 4,805.0 | 12.01% |
| 1988-1989 | 424.6 | 135.0 | 0.0 | 265.4 | 825.0 | 5,263.3 | 15.67% |
| 1989-1990 | 372.2 | 144.0 | 0.0 | 318.0 | 834.2 | 5,491.3 | 15.19% |
| 1990-1991 | 109.4 | 155.0 | 0.0 | 323.0 | 587.4 | 5,560.6 | 10.56% |
| 1991-1992 | 138.9 | 165.0 | 0.0 | 328.6 | 632.5 | 5,784.5 | 10.93% |
| 1992-1993 | 9.7 | 180.0 | 0.0 | 300.6 | 490.3 | 6,098.6 | 8.04% |
| 1993-1994 | 90.0 | 190.0 | 0.0 | 370.3 | 650.3 | 6,720.1 | 9.68% |
| 1994-1995 | 679.3 | 200.0 | 0.0 | 419.3 | 1,298.6 | 7,277.0 | 17.85% |
| 1995-1996 | 1,024.8 | 215.0 | 0.0 | 439.5 | 1,679.3 | 7,569.8 | 22.18% |
| 1996-1997 | 1,138.2 | 240.0 | 0.0 | 466.1 | 1,844.3 | 7,937.8 | 23.23% |
| 1997-1998 | 1,319.3 | 240.0 | 0.0 | 496.1 | 2,055.4 | 8,481.9 | 24.23% |
| 1998-1999 | 1,211.1 | 255.0 | 0.0 | 524.7 | 1,990.8 | 8,940.7 | 22.27% |
| 1999-2000 [4] | 810.3 | 270.0 | 0.0 | 535.1 | 1,615.4 | 9,158.9 | 17.64% |
| 2000-2001 [4] | 401.0 | 270.0 | 0.0 | 559.7 | 1,230.7 | 9,631.1 | 12.78% |
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.