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Auditor Candidate Charges State Surplus Artificially High

Last updated on Wednesday, July 9, 2014

(STATEHOUSE) - State Auditor Suzanne Crouch announces Indiana’s balance sheet for the just-ended fiscal year on Monday.

Her Democratic opponent charges the state is inflating the surplus at the expense of Hoosier needs.

Mike Claytor says he expects the state will report a 1.7-billion-dollar surplus -- that's what a December forecast predicted, and would be about 14-percent of total spending. But he argues the state should be spending that money on education instead of sitting on it.

State law caps the surplus at 12.5-percent. Anything above that at the end of the two-year budget next year triggers an automatic tax rebate.

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