EVANSVILLE, Ind. (AP) _ A report says the administration of Gov. Mike Pence has told state agencies and its public universities to hold back portions of their funding for the current fiscal year despite the state having $2 billion in reserves.
The Evansville Courier & Press reported Thursday that a memo sent by the State Budget Agency last month directs state agencies to not spend 4.5 percent of their budgets in 2015 just as they did last year. It directs university officials to reserve 2 percent of their budget after they trimmed nearly $34 million in 2014.
Indiana ended the 2014 fiscal year with a $107 million operating surplus that pushed reserves over the $2 billion mark despite a decline in tax revenues.
A message seeking comment was left with the budget agency.
