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State comptroller highlights strong fiscal position, local partnerships and plans for financial transparency
Summary
Comptroller reported balanced budgets, healthy reserves, high credit ratings and multi-year projects to streamline state-local fund reporting, PeopleSoft improvements and a federal grants dashboard for transparency.
Comptroller told the committee Indiana maintains a strong fiscal position, citing balanced budgets, healthy cash reserves, low debt and well-funded pensions. "We enjoy a triple-A credit rating," she said, and described efforts to make financial reporting more accessible to local governments and the public.
She summarized operations overseen by the Comptroller's Office: processing biweekly payroll for more than 30,000 active state employees, administering roughly $8 billion in vendor payments in fiscal 2024 and distributing nearly $9.5 billion to local units of government. The office produces the state's annual comprehensive financial report, which earned the Government Finance Officers Association's highest recognition for the 31st consecutive year.
Planned work includes consolidation of fund numbers to align local and state reporting, a federal grants dashboard on the Indiana transparency portal, electronic submission of settlement documents by local units and expanded timekeeping (UKG) deployment. The comptroller also said MPERS (the state's public employees retirement system) completed a statutory-directed divestment from China ahead of schedule.
Ending: The comptroller requested a flat appropriation for the coming biennium and offered staff follow-up to legislators about fund-consolidation and local-government reporting improvements.
