Indiana State Announces $3.9 Billion State Reserve Auditor Tera Klutz State Auditor Tera Klutz, CPA has announced that Indiana closed the 2021 fiscal year with reserves of $3.9 billion. “Indiana once again exceeded expectations and soared through the recession with one of the fastest recoveries on record to end with a cash reserve of $3.9 billion at the end of June,” said Auditor Klutz. “Indiana is poised to make an excess reserve transfer of $1.1 billion, which will be split between retirement funding and a refundable income tax credit for Hoosier taxpayers.” The annual report, prepared by the State Budget Agency, highlights the state’s fiscal year ending on June 30, 2021.