Indiana Fiscal Statistics

StatisNostics/State Financials/Indiana

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20122021

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State Revenue Analysis (Indiana: 2012–2021)

Population: 6,537,632 → 6,732,219 (3.0% change)

Overall Revenue Trends

Total Revenue▲ 70.7%

$32,986,460,000 (2012)→$56,323,475,000 (2021)

Per Capita Revenue▲ 65.8%

$5,046 (2012)→$8,366 (2021)

Fund Balances▲ 10.2%

$34,200,360,000 (2012)→$37,678,395,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 6.9%

Major Tax Revenue

Property Tax▲ 119%

$6,336,000 (2012)→$13,876,000 (2021)

Sales Tax▲ 40%

$6,631,954,000 (2012)→$9,282,907,000 (2021)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Toll Highway Charges▲ 50235.6%

$596,000→$300,000,000

Federal Intergovernmental Health & Hospitals▲ 890.0%

$305,536,000→$3,024,920,000

Federal Intergovernmental Public Welfare▲ 168.3%

$5,580,526,000→$14,973,818,000

Declining/Slowest Growing Sources

Death & Gift Tax▼ 99.8%

$175,954,000→$289,000

Rents▼ 98.1%

$16,080,000→$300,000

Local Intergovernmental Public Welfare▼ 95.6%

$19,425,000→$846,000

Revenue Forecast

Projected Revenue (Next Year)▲ 10.7%

Estimated: $62,349,545,015

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Total General Sales Taxes20.1%

Federal Intergovernmental Public Welfare16.9%

Individual Income Tax14.4%

Higher Education Tuition Charges7.9%

Federal Intergovernmental Education5.6%

Federal Intergovernmental Highways3.3%

Interest Earnings2.8%

Amusement Tax2.5%

Motor Fuels Sales Tax2.5%

Unemployment - Contribution2.4%

Corporation Net Income Tax2.4%

Federal Intergovernmental Housing & Community Development2.4%

Higher Education Auxiliary Charges2.2%

Other Selective Sales Taxes2.1%

Tobacco Sales Tax1.4%

Federal Intergovernmental Other1.3%

Miscellaneous General Revenue Not Elsewhere Classified1.3%

Federal Intergovernmental Health & Hospitals0.9%

Net Lottery Revenue0.8%

Donations From Private Sources0.8%

Motor Vehicle Operators License0.7%

Public Utilities Tax0.7%

Motor Vehicle License0.7%

Insurance Premium Tax0.6%

Death & Gift Tax0.5%

Fines & Forfeits0.5%

Federal Intergovernmental Employment Security Administration0.4%

Federal Intergovernmental Other Natural Resources0.3%

Other License Tax0.2%

Federal Intergovernmental Sewerage0.1%

Alcoholic Beverage Sales Tax0.1%

Occupation & Business License Not Elsewhere Classified0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Local Intergovernmental Highways0.1%

Parks & Recreation Charges0.1%

Local Intergovernmental Public Welfare0.1%

Federal Intergovernmental Water Utilities0.1%

Federal Intergovernmental Transit Utilities0.1%

Hunting & Fishing License0.1%

Rents0.0%

All Other Not Elsewhere Classified Charges0.0%

Housing & Community Development Charges0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Education0.0%

Sale of Property0.0%

Water Transportation & Terminal Charges0.0%

Amusement License Tax0.0%

Corporation License Tax0.0%

Property Tax0.0%

Workers Compensation - Other Contributions0.0%

Parimutuels Tax0.0%

Severance Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Regular Highway Charges0.0%

Royalties0.0%

Toll Highway Charges0.0%

Hospital Charges0.0%

2021 Revenue Sources

Federal Intergovernmental Public Welfare26.6%

Individual Income Tax18.8%

Total General Sales Taxes16.5%

Federal Intergovernmental Health & Hospitals5.4%

Higher Education Tuition Charges5.2%

Federal Intergovernmental Education3.5%

Motor Fuels Sales Tax2.7%

Other Selective Sales Taxes2.7%

Corporation Net Income Tax2.5%

Federal Intergovernmental Highways2.2%

Interest Earnings1.7%

Miscellaneous General Revenue Not Elsewhere Classified1.3%

Donations From Private Sources1.2%

Amusement Tax1.1%

Higher Education Auxiliary Charges1.0%

Unemployment - Contribution0.9%

Federal Intergovernmental Housing & Community Development0.9%

Net Lottery Revenue0.8%

Tobacco Sales Tax0.7%

Motor Vehicle License0.6%

Federal Intergovernmental Other0.6%

Toll Highway Charges0.5%

Motor Vehicle Operators License0.5%

Insurance Premium Tax0.4%

Public Utilities Tax0.4%

Fines & Forfeits0.3%

Federal Intergovernmental Employment Security Administration0.2%

Other License Tax0.2%

Federal Intergovernmental Other Natural Resources0.1%

Alcoholic Beverage Sales Tax0.1%

Local Intergovernmental Highways0.1%

Occupation & Business License Not Elsewhere Classified0.1%

Parks & Recreation Charges0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

All Other Not Elsewhere Classified Charges0.0%

Hunting & Fishing License0.0%

Federal Intergovernmental Sewerage0.0%

Alcoholic Beverage License Tax0.0%

Water Transportation & Terminal Charges0.0%

Property Tax0.0%

Federal Intergovernmental Transit Utilities0.0%

Local Intergovernmental Education0.0%

Corporation License Tax0.0%

Federal Intergovernmental Water Utilities0.0%

Workers Compensation - Other Contributions0.0%

Amusement License Tax0.0%

Housing & Community Development Charges0.0%

Unemployment - Interest Revenue0.0%

Sale of Property0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Regular Highway Charges0.0%

Parimutuels Tax0.0%

Local Intergovernmental Public Welfare0.0%

Severance Tax0.0%

Federal Intergovernmental Air Transportation0.0%

Rents0.0%

Death & Gift Tax0.0%

Royalties0.0%

Hospital Charges0.0%

Local Intergovernmental Other0.0%

Key Insights

1Total revenue increased by 70.7% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 3.0%, while per-capita revenue changed by 65.8%.

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State Expense Analysis (Indiana: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 27%

$10,398,790,000→$13,245,708,000

Per Capita Spending▲ 24%

$1,591→$1,968

Population Trends

Population Change▲ 3%

6,537,632 (2012)→6,732,219 (2021)

Public Safety Expenses

Police Protection▲ 29%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 35%

$0 (2012)→$0 (2021)

Sewerage Operations▲ 82%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 45%

$0 (2012)→$0 (2021)

General Expenses▲ 293%

$0 (2012)→$0 (2021)

Indiana Key Insights

1General expenses increased dramatically by 293%, which may indicate classification changes, new initiatives, or reporting adjustments
2Sewerage was the fastest growing major expense category at 82% increase

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 15%

$9,374,018,000 (2012)→$8,006,744,000 (2021)

Industrial Revenue Debt▲ 6%

$12,929,216,000 (2012)→$13,641,396,000 (2021)

Per Capita Debt▼ 17%

$1,434 (2012)→$1,189 (2021)

Population Trends

Population Change▲ 3%

6,537,632 (2012)→6,732,219 (2021)

Debt Management

Most Recent Year (2021)

Issued:$1,433,559,000

Retired:$1,302,516,000

Net Change:+$131,043,000

Debt Retirement Trend

$963,650,000 → $1,302,516,000▲ 35%