Indiana closes out budget year with record reserves

INDIANAPOLIS (WISH) – Indiana closes out the budget year with record reserves, and a new report says traditional in-person shopping is outpacing online shopping this back-to-school season.

Indiana has a record amount of money in the bank.

The surplus comes despite revenues that were below forecast.

The state auditor’s office said lower collections were largely offset by low gas prices.

Indiana is one of only 12 states in the nation to hold AAA credit rating with all three  credit rating agencies.

In other business headlines, a Louisville chicken chain is coming to Indianapolis.

Joella’s Hot Chicken is planning to open an Indianapolis eatery and bar in mid-September.

The restaurant will be on East 96th Street between Keystone Avenue and Allisonville Road.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.