Zachary “Zac” Jackson, who has led the State Budget Agency as director for nearly five years, is leaving state government to become chief financial officer and controller for the city of Carmel, the Indiana governor’s office announced Monday.
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Consumer spending that boosted state revenues has cooled after two years of above-average financial performance, bringing the state’s reserves back within a typical range.
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Republican legislative leaders agreed Thursday to give about $300 million in additional funding toward Indiana schools in the new state budget.
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Under the addition, the state governor’s salary would be equal to that of an Indiana Supreme Court Justice—starting with Gov. Eric Holcomb’s successor, who would see a salary increase of 48%.
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Indiana’s public universities are seeking millions of dollars for capital projects, but the state’s Commission for Higher Education wants lawmakers to concentrate funding in the next budget cycle on deferred-maintenance projects.
Indiana’s State Budget Committee on Tuesday kicked off its first hearing for the upcoming 2026 and 2027 fiscal years. Lawmakers are set to file an initial vision for the $40 billion-plus biennial budget in January.
Democratic lawmaker Rep. Ed DeLaney of Indianapolis made public a new legislative analysis on Wednesday that showed the overall dollar amount spent on K-12 has grown each year, but its share of the state budget has dropped.
The Indiana Deferred Compensation Committee voted to eliminate public retirement assets from the funds as part of the state’s effort to divest from Chinese entities and funds prioritizing environmental, social and governance practices.
Closing the fiscal year this week, Indiana budget leaders say the state government’s finances are in a healthy spot despite posting its lowest reserves since the pandemic, an issue exacerbated by a $1 billion Medicaid shortfall discovered last December.
State Sen. Ryan Mishler, R-Bremen, and Rep. Greg Porter, D-Indianapolis, likened the city’s expected request to those more regularly made to the budget committee by the Indiana Economic Development Corp., which is not required to disclose much, if any, information about its dealings.
New data shows Indiana’s teacher pay is ticking up—but still trails averages in neighboring states—as the debate over Hoosier educator salaries continues.
The flawed forecast was based on data that did not reflect the latest needs of enrollees, state agencies said.
The state budget plan predicted revenue of about $1.6 billion but collections were short $139 million: almost 9% below expectations, according to a monthly revenue report.
The comments from Indiana State Budget Director Zac Jackson came during a virtual panel discussion on the impacts an economic recession would have on state budgets.
The Interim State and Local Tax Review Task Force, which began meeting Wednesday, will examine Indiana’s corporate tax, individual income tax, property tax, sales tax, and others.
A memo issued by the State Budget Agency last week says that, despite “our strong financial position,” the state needs “to be mindful of unknown factors.”
Under pressure from local schools and fellow Republican lawmakers, GOP leaders opted to decrease the amount dedicated to paying down the unfunded liability in pre-1996 Teacher Retirement Fund and shift an additional $312 million to K-12 schools.
The $44.5 billion spending plan restores measures coveted by Republican leaders in both chambers, a reflection of the April state revenue forecast that showed Indiana is expected to receive an additional $1.5 billion in revenue over the next two fiscal years.
A projected $1.5 billion in new revenue will add new drama to the final week of this year’s legislative session as the Indiana General Assembly grapples with how much to raise funding for public health, education and debt obligations.
State lawmakers have $1.5 billion more to work with than expected in the next two-year budget, according to revenue figures released by the Indiana State Budget Agency on Wednesday. But it’s unclear where that money will be directed.
The proposed version of the budget doesn’t include any expansion of school vouchers, which House Speaker Todd Huston has personally pushed for, nor does it finalize funding for mental health and public health commitments.
Indiana’s only predominately Black university is slated to miss out on a $10 million cash infusion under a budget proposal introduced by Senate Republicans on Friday.
The most glaring contrast between the Senate and House proposals is the way in which they intend to expand funding to charter schools.
Secretary of State Diego Morales is asking for salary increases for his employees and about $6 million in funding for an election cybersecurity program in the next two-year budget cycle.
