Indiana closed out the 2017 fiscal year that ended in June with about $1.8 billion in reserves and a surplus of $42 million. Auditor Tera Klutz said Tuesday that the numbers demonstrate that the state is fiscally responsible. Office of Management and Budget Director Micah Vincent says the amount in reserve is needed to prepare the state for a possible economic downturn. That will allow the state to avoid an immediate tax increases while still providing services if the economy goes south.
