INDIANAPOLIS -- The state of Indiana has received a surplus to end the fiscal year.

Governor Mike Pence says the state's on-going surplus totaled $93 million.

The state's cash reserves are also healthy, bringing in $86 million more than expected.

The governor plans to use the surplus to pay off state debts, including bonds for the Miami Correctional Facility.

"It lays a foundation for economic growth and prosperity, upon which I believe we will be able to get this economy moving again and Hoosiers back to work," said Governor Pence.

Earlier this year, lawmakers approved a $30 billion two year budget.

It includes the governor's income tax cut as well as more funding for roads and education.