“Due to the coronavirus pandemic and the accompanying economic fallout, Indiana finished the year with revenue down $1.4 billion.
“The silver lining to this difficult situation is that years of responsible fiscal management by the General Assembly and multiple governors have put Indiana in a much better financial position than we would find ourselves in otherwise. We started this economic downturn with $2.3 billion in reserves, and had to use almost $1 billion in reserves to get us through the year. Having $1.4 billion left in reserves will allow the state to begin this upcoming year of uncertainty once again in a strong financial position.
“It will take a variety of measures including reserves, federal stimulus funds and spending holdbacks to get us through the next year and beyond. I look forward to continued collaboration with the Holcomb administration in order to make the tough but necessary decisions to move our state forward.”
