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. | ||||||||||||||