Pence Instructs Agencies To Hold Back On Funding

Governor Mike Pence's administration has told state agencies to hold back 4.5 percent of their funding for the current fiscal year. This, despite the state's $2 billion in reserves. A Pence spokeswoman says the administration uses the spending cuts to manage potential budget shortfalls and to ensure the state maintains adequate reserves. She went on to say that the $2 billion in reserves is a key factor in the state's AAA credit rating.