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Property Tax Abatement: Another Economic Development Tool

By Matt Eckerle, Principal, April 15, 2015
Latest News

In a previous issue of Vision, we talked about Tax Increment Financing (TIF) as one financial tool to help communities compete for economic development projects to grow their tax base and bring jobs to the community. Property tax abatement is another financial tool for your “toolbox” of local incentives to make your community a more desirable location in the eyes of new or growing companies. Recent legislative changes have provided increased flexibility for the application of property tax abatements, most recently with the introduction of the “super” abatements available for new personal property investments.

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Are you sick of potholes? I am.

By Heidi L. Amspaugh, CIPMA, Manager, April 15, 2015
Latest News

Swerving back and forth, back and forth, do you think you’re watching your son or daughter play a video game? No, you’re driving down the street after a long, snowy winter trying to avoid the craters in the ground, otherwise known as potholes.

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The Marriage of Civil Funds and Utilities in a Comprehensive Financial Plan

By Eric Walsh, CPA, Principal, April 01, 2015

City and town decision makers face financial issues daily, weekly, monthly and annually. Whether it is the clerk-treasurer analyzing additional appropriation needs in the general fund, the town manager working through funding options for a street paving project, the utility superintendent creating a multi-year capital improvement plan or the council voting on the annual budget, current decisions have long-lasting effects on the financial health of your city or town. Similarly, the decisions made for one fund, budget or project influence other components of the city or town, such as your utilities.

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Umbaugh Participates in Indiana’s First RD Interim Construction Financing

By Doug L. Baldessari, CPA, Partner, April 01, 2015

In the September 10, 2014 issue of Vision, we informed our readers that USDA Rural Development will require interim financing during construction for the loan portion of the funding for water and wastewater infrastructure projects for rural areas in Indiana. Any grant portion of the funding awarded from Rural Development will not have to go through the interim financing program.

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Do You Have a Financial Roadmap to the Future?

By Paige E. Sansone, CPA, Principal, March 17, 2015
Latest News

The start of a new year is a good time to develop a plan for the future. Many communities across Indiana, large and small, face fiscal challenges due to rising costs, declining revenues, lack of economic growth, and property tax losses due to the tax caps. All of these factors are changing the way we budget. Taking a short-term approach to budgeting is no longer sufficient. Extend your planning horizons beyond one year and develop long-term cash flow projections to identify potential budget deficits and cash flow shortages before they occur.

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Statewide Look-The Real Numbers Behind Changes In Local Government Finance

By Gerald G. Malone, CPA, Partner, March 17, 2015
Latest News

Part 3 in a series – How we got here

To understand how we arrived at the transition from 80% of Indiana local governments’ budgets funded by property taxes in 2007 to the current level of 39%, you have to understand how we got here.

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TIF Flexibility Can Benefit Schools and Other Taxing Units

By Loren M. Matthes, Principal, March 03, 2015
Latest News

Tax increment financing (TIF) can have a broad impact that goes beyond the geographic area or businesses it is designed to serve. TIF is one of the few funding methods available to local governments to finance the incentives and infrastructure necessary to compete for economic development. Indiana law allows TIF to be used in a variety of ways to encourage economic development.

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Need Ideas to Bridge Funding Gaps?

By Paige E. Sansone, CPA, Principal, March 03, 2015
Latest News

As you start the year with a new budget, you are probably like many other taxing units in the State. Resources are not enough to cover increasing costs and bridging funding gaps is becoming more and more difficult. We have a few ideas for your consideration.

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Is the Fed Ready to Increase Interest Rates?

By Jeffrey A. Messer, Director of Umbaugh Cash Advisory Services, LLC, February 17, 2015

The latest employment data is not only robust, but for once, there is a positive trend building in the labor markets. People who had previously given up looking for work came back into the work force in January. Could this be the data the Fed needs to begin normalizing short-term interest rates?

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What Your Library Should Consider Before Issuing Bonds

By Belvia B. Gray, CIPMA, Principal, February 17, 2015
Latest News

To state the obvious, public libraries are public buildings. They get a lot of wear and tear as people use the facility day in and day out – which is a positive sign your library is a valuable resource for your community. Similarly, libraries need to update technology and replace roofs and mechanical systems as your building (or buildings) age. Somewhere in your long-range plan, you probably have included facility improvements, and that takes money.

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