Indiana State Revenue Forecasts History

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State revenue forecasts for the Total General & Property Tax Replacement Funds are prepared by the Indiana Economic Forum and the Revenue Forecast Technical Committee. The table below presents the history of state revenue forecasts starting with the state Fiscal Year 2004. The differences between the actual revenue for a Fiscal Year and the latest revenue forecast update prior to the Fiscal Year are highlighted in bold blue. The biggest revenue forecast "miss" was the 9.6% shortfall for Fiscal Year 2010 during the depths of the Great Recession.

Indiana State Revenue Forecasts History

Total General & Property Tax Replacement Funds

Fiscal Years 2004-2019

(millions of dollars)

(Compiled April 13, 2017)

Source: Indiana State Budget Agency "Revenue Forecasts and Reports" at http://www.in.gov/sba/2363.htm 

FY 2004

FY 2005

FY 2006

FY 2007

FY 2008

FY 2009

FY 2010

FY 2011

12/18/2002 Forecast

10,739.7

11,244.1

04/10/2003 Update

10,692.5

11,192.3

01/12/2004 Update

10,561.5

11,001.8

12/14/2004 Forecast

11,312.3

11,736.6

12,356.6

04/11/2005 Update

11,290.6

11,757.4

12,378.3

12/14/2005 Update

11,712.7

12,348.9

12/14/2006 Forecast

12,358.5

12,837.4

13,448.2

04/16/2007 Update

12,335.7

12,817.6

13,377.0

12/13/2007 Update

12,898.6

13,136.2

12/11/2008 Forecast

13,516.3

13,821.2

14,321.9

04/17/2009 Update

13,376.4

13,475.3

13,976.2

05/27/2009 Update

12,932.1

13,115.1

13,632.6

12/15/2009 Update (1)

12,076.2

12,835.7

12/15/2010 Forecast

12,951.2

04/15/2011 Update

13,070.1

12/14/2011 Update

Fiscal Year Actual

10,619.9

11,436.5

12,060.7

12,626.2

13,082.2

12,906.2

12,186.7

13,274.2

Update Difference (2)

72.6

434.7

303.3

277.3

264.6

230.0

1,288.6

438.5

Percent Actual Shortfall

0.7%

1.8%

9.6%

Percent Actual Extra

4.0%

2.6%

2.2%

2.1%

3.4%

FY 2012

FY 2013

FY 2014

FY 2015

FY 2016

FY 2017

FY 2018

FY 2019

12/15/2010 Forecast

13,401.8

13,945.5

04/15/2011 Update

13,741.4

14,249.4

12/14/2011 Update

14,074.9

14,432.0

12/17/2012 Forecast

14,337.5

14,655.4

15,087.5

04/16/2013 Update

14,370.8

14,728.2

15,271.8

12/20/2013 Update

14,388.5

14,858.7

12/18/2014 Forecast

14,729.7

15,090.2

15,572.5

04/16/2015 Update

14,624.9

14,971.1

15,478.3

12/17/2015 Update

14,931.1

15,343.4

12/15/2016 Forecast

15,043.5

15,480.8

16,087.0

04/12/2017 Update

15,167.3

15,588.2

16,180.8

Fiscal Year Actual

14,125.1

14,462.1

14,402.2

14,898.4

14,819.5

Update Difference (2)

383.7

30.1

326.0

39.7

151.6

Percent Actual Shortfall

2.2%

1.0%

Percent Actual Extra

2.8%

0.2%

0.3%

Note:

(1) Prior year revenues and forecasted revenues for Cigarette Tax Account adjusted to reflect new distribution.

(2) "Update Difference" is the difference between the Fiscal Year Actual and the latest Update prior to the FY.

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This page was last updated on 05/04/17.