Ind. lawmakers look to rainy day fund

VINCENNES, Ind. (WTHI) - State lawmakers prepare to deal with some big budget issues in next month's General Assembly.

Indiana's budget is already a half billion less than lawmakers thought it would be this year. The budget shortfall has already led to cuts in medicaid and state college funding and lay-offs at some state agencies.

Lawmakers said they will have to sort out the budget during the short session and it will most likely mean tapping into the rainy day fund.

"It's not raining. It's pouring. To my knowledge we have tapped very little into that surplus," State Rep. Kreg Battles said. "The rainy day fund is at least still a billion dollars."

Some of that rainy day fund could go to propping up funding for schools. So far the state has not cut those budgets, but with falling revenues even that could change.