Indiana Fiscal Statistics

StatisNostics/State Financials/Indiana

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20122023

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State Revenue Analysis (Indiana: 2012–2023)

Population: 6,537,632 → 6,805,985 (4.1% change)

Overall Revenue Trends

Total Revenue▲ 89.3%

$32,986,460,000 (2012)→$62,444,568,000 (2023)

Per Capita Revenue▲ 81.8%

$5,046 (2012)→$9,175 (2023)

Fund Balances▼ 100%

$34,200,360,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 6.6%

Major Tax Revenue

Property Tax▲ 144%

$6,336,000 (2012)→$15,463,000 (2023)

Sales Tax▲ 65.9%

$6,631,954,000 (2012)→$11,003,705,000 (2023)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

All Other Not Elsewhere Classified Charges▲ 1285.2%

$15,251,000→$211,254,000

Federal Intergovernmental Health & Hospitals▲ 647.3%

$305,536,000→$2,283,156,000

Hospital Charges▲ 280.0%

$35,000→$133,000

Declining/Slowest Growing Sources

Death & Gift Tax▼ 99.9%

$175,954,000→$108,000

Local Intergovernmental Public Welfare▼ 98.2%

$19,425,000→$357,000

Rents▼ 98.1%

$16,080,000→$311,000

Revenue Forecast

Projected Revenue (Next Year)▲ 5.3%

Estimated: $65,763,254,812

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

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%

2023 Revenue Breakdown

Federal Intergovernmental Public Welfare27.9%

Individual Income Tax18.7%

Total General Sales Taxes17.6%

Higher Education Tuition Charges5.0%

Federal Intergovernmental Education4.1%

Other Selective Sales Taxes3.9%

Federal Intergovernmental Health & Hospitals3.7%

Motor Fuels Sales Tax2.6%

Corporation Net Income Tax2.0%

Federal Intergovernmental Highways2.0%

Higher Education Auxiliary Charges1.3%

Federal Intergovernmental Housing & Community Development1.2%

Donations From Private Sources1.1%

Miscellaneous General Revenue Not Elsewhere Classified1.0%

Interest Earnings0.9%

Amusement Tax0.9%

Net Lottery Revenue0.8%

Federal Intergovernmental Other0.7%

Unemployment - Contribution0.6%

Tobacco Sales Tax0.6%

Motor Vehicle License0.6%

Motor Vehicle Operators License0.4%

Insurance Premium Tax0.4%

All Other Not Elsewhere Classified Charges0.3%

Fines & Forfeits0.3%

Local Intergovernmental Highways0.2%

Other License Tax0.2%

Federal Intergovernmental Employment Security Administration0.2%

Federal Intergovernmental Other Natural Resources0.1%

Federal Intergovernmental Sewerage0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Alcoholic Beverage Sales Tax0.1%

Occupation & Business License Not Elsewhere Classified0.1%

Parks & Recreation Charges0.1%

Hunting & Fishing License0.0%

Unemployment - Interest Revenue0.0%

Alcoholic Beverage License Tax0.0%

Water Transportation & Terminal Charges0.0%

Local Intergovernmental Education0.0%

Property Tax0.0%

Corporation License Tax0.0%

Amusement License Tax0.0%

Workers Compensation - Other Contributions0.0%

Housing & Community Development Charges0.0%

Sale of Property0.0%

Regular Highway Charges0.0%

Severance Tax0.0%

Royalties0.0%

Federal Intergovernmental Air Transportation0.0%

Local Intergovernmental Public Welfare0.0%

Rents0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Hospital Charges0.0%

Death & Gift Tax0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Local Intergovernmental Other0.0%

Key Insights

1Total revenue increased by 89.3% from 2012 to 2023, representing a significant change in the state's financial position.
2Population changed by 4.1%, while per-capita revenue changed by 81.8%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Indiana: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 225%

$10,398,790,000→$33,790,317,000

Per Capita Spending▲ 212%

$1,591→$4,965

Population Trends

Population Change▲ 4.1%

6,537,632 (2012)→6,805,985 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 73%

$196,170,000 (2012)→$339,930,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 55%

$341,121,000 (2012)→$529,982,000 (2023)

Sewerage Operations▲ 49%

$1,391,000 (2012)→$2,079,000 (2023)

Administrative Expenses

Financial Administration▲ 59%

$260,604,000 (2012)→$413,604,000 (2023)

General Expenses▲ 233%

$343,929,000 (2012)→$1,145,084,000 (2023)

Indiana Key Insights

1Per capita expenditures grew by 212%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 233%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▼ 13%

$9,374,018,000 (2012)→$8,169,600,000 (2023)

Industrial Revenue Debt▼ 100%

$12,929,216,000 (2012)→$0 (2023)

Per Capita Debt▼ 16%

$1,434 (2012)→$1,200 (2023)

Population Trends

Population Change▲ 4.1%

6,537,632 (2012)→6,805,985 (2023)

Debt Management

Most Recent Year (2023)

Issued:$1,133,305,000

Retired:$872,800,000

Net Change:+$260,505,000

Debt Retirement Trend

$963,650,000 → $872,800,000▼ 9%