The State Budget Agency is releasing revenue collection numbers that show a mixed picture for Indiana’s finances.

According to the SBA…

  • General Fund collections for February totaled $718.6 million, which is $44.8 million (6.6%) more than the monthly estimate but $26.8 million (3.6%) below February 2015 revenue.
  • Sales tax collections totaled $536.1 million for February, which is $23.9 million (4.3%) below the monthly estimate and $0.4 million (0.1%) above revenue in February 2015.
  • Individual income tax collections totaled $115.1 million for February, which is $65.2 million (131.0%) above the monthly estimate but $9.1 million (7.3%) below revenue in February 2015.
  • Corporate tax collections totaled negative $16.0 million for February, which is $8.2 million (105.4%) below the monthly estimate and $23.8 million (306.3%) below revenue in February 2015.  Timing of corporate tax refunds is responsible for the variance.
  • Riverboat wagering collections totaled $33.8 million for February, which is $2.2 million (6.9%) above the monthly estimate and $0.6 million (1.7%) above revenue in February 2015.
  • Racino wagering collections totaled $10.2 million for February, which is $1.3 million (14.6%) above the monthly estimate and $0.4 million (3.7%) above revenue in February 2015.
  • Year-to-date General Fund collections totaled $9,071.4 million, which is $52.0 million (0.6%) higher than estimated, and $34.1 million (0.4%) above collections for the same period last year.
  • Sales tax collections through eight months of fiscal year 2016 were $68.5 million (1.4%) below estimate and $20.7 million (0.4%) below collections through eight months of fiscal year 2015.
  • Individual income tax collections through eight months of fiscal year 2016 have grown by $96.1 million (3.1%) over the same period a year ago and were $119.7 million (3.9%) above the year-to-date estimate.
  • Corporate collections eight months into fiscal year 2016 were $51.4 million (11.6%) below year-to-date collections of fiscal year 2015 and $30.4 million (7.2%) below the year-to-date estimate.