CHICAGO Spending cuts and an improved economy enabled Indiana to eliminate a potential $410 million budget deficit in fiscal 1994 and end the year with an operating surplus, according to state officials.

Mark Moore, Indiana's special liaison for public finance, said the state ended the year on June 30 in the black as a result of "significant" budget cuts ordered by Gov. Evan Bayh, higher-than-expected revenues, and increased federal reimbursements for Medicaid.

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