Starting this month, the Indiana General Assembly will craft a budget for the state. The budget is a plan for spending on state services from July 1, 2013, through June 30, 2015, fiscal years 2014 and 2015.
To create the budget, legislators need to know how much revenue they’re going to have. On Dec. 17, Indiana’s forecast committee offered its best guess. The forecast was a bit more than a billion dollars above current revenues.
A billion dollars is a lot of money. But this is a pretty conservative forecast.