Governor Mike Pence announced a series of cost-saving measures Monday, not long after the release of the state’s November revenue report which showed state revenue $141 million lower than projected for the current fiscal year.
Among other cuts, administration officials said Indiana would be selling the state’s airplane for roughly $2.5 million, while also delaying expenses that had been set aside for the newly-created Indiana Biosciences Research Institute. Pence administration officials said the state would also require agencies to hold back an additional 1.5 percent of their appropriations, and require a 2 percent reserve on university operations and line items. Officials said those steps would save the state an additional $56.5 million.
“Fiscal integrity is the foundation of prosperity,” said Gov. Pence in a written statement. “The cost-saving measures we are implementing today will ensure that Indiana remains fiscally sound during these uncertain times.”
The state posted a full list of the cost-saving measures online.
The cuts come after other measures taken by state officials this fiscal year. Governor Pence had already required agencies to reserve 3 percent of their appropriations, before announcing the additional cost-saving measures this week.