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| 5/14/2010 11:56:00 PM | Email this article • Print this article |
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| Indiana State Auditor Tim Berry (L) speaks with Warsaw Rotary Club member Ron Redpath during the club’s meeting Friday at Ramada Plaza Hotel, Warsaw. Photo by Jennifer Peryam, Times-Union. |
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State Auditor Speaks In Warsaw To Rotary Club
Jennifer Peryam
Times-Union Staff Writer
State Auditor Tim Berry gave an update on the state's financial status to Warsaw Rotary Club members Friday afternoon.
Berry spoke to approximately 100 rotary members at Ramada Plaza Hotel, Warsaw.
As auditor, Berry serves as the chief financial officer for the state. His obligations involve accounting for all the state's funds, overseeing and distributing local governments tax distributions, paying the state's bills and paying the state's employees.
Berry was elected Indiana's 54th state auditor in November 2006, taking office Jan. 1, 2007.
"We're trying to provide transparency of Indiana finances as much as possible throughout the year, not just at the end of the fiscal year," Berry said.
Instead of adding to the tax burden as many other states have done, Berry said Indiana is trying to maintain financial integrity by living within the state's means to come out of the recession and help the economy grow.
Berry said there have been reductions in revenue and sales taxes and corporate income taxes.
"The only way we will be able to maintain our financial integrity is to to reduce our expenditures so we aren't spending money we don't have," Berry said.
He said last year Indiana ended the fiscal year with $1.3 billion in reserve, but since then revenue is on a downward spiral hit by a challenging economy.
"We are down in revenue about 9 percent from where we anticipated we would be based on the budget that was passed last June," Berry said.
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He said as a result, with reduced revenue, the state has reduced its spending.
Berry said Indiana remains in the black and is paying its bills on time.
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