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Are Your Municipal Fees Covering Costs?

By Jeffrey P. Rowe, CPA, Partner, October 19, 2017
Latest News

With the many fiscal challenges facing municipalities, it has become increasingly important to regularly review your fee structure to ensure existing fees remain adequate to recover the costs associated with providing municipal service. This may also serve useful in identifying new types of fees in order to generate new sources of revenue.

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New Requirements for Referendum and Remonstrance Thresholds for Schools

By Belvia B. Gray, CIPMA, October 19, 2017
Latest News

The financial thresholds necessary to initiate petition and remonstrance and referendum processes for school corporations are changing per House Enrolled Act 1043 effective January 1, 2018.

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Thirty-Five Year Utility Financing Option

By Christina De Witt, CPA, Principal, October 12, 2017
Latest News

Umbaugh completed the first financing through the Indiana State Revolving Fund’s (SRF) new program that allows for up to a 35-year repayment period for pipe components of utility improvement projects. The Town of Michigantown was the first to finance the pipe components of their sewer project with the new SRF program. The repayment of the pipe components of their project, which totaled $274,000 of the overall $1,156,000 project, allowed the community to save each sewer customer over $4.50 on their monthly bill.

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Top Five Reasons to Comply with Arbitrage Regulations

By Christina L. Cromer, CPA, Principal, October 05, 2017
Latest News

If you are an issuer of tax-exempt debt, there are five very good reasons to comply with the arbitrage rules of the Internal Revenue Code and related regulations.

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Thinking About the Future

By Jason G. Semler, CPA, Partner, October 05, 2017
Latest News

When we say the future we don’t mean 2018, we mean 2019 and beyond. You have probably just finished adopting your community’s 2018 budget. Now that your 2018 budget is adopted this is the perfect time to start planning for 2019 using the 2018 budget as a starting point.

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TIME SENSITIVE REMINDER:  Adjust LIT by 10/31 to Generate Addtn’l Revenues

By Jason G. Semler, CPA, Partner, September 21, 2017
Latest News

We have heard from a number of local units who are anticipating a revenue shortfall next year as you project next year’s revenue and plan your 2018 budgets. We have also heard that because of this serious dilemma, many are considering or in the process of adopting/amending a Local Income Tax (LIT) in your County.

We just wanted to remind you that it is not too late to adopt or adjust a LIT rate for next year – but time is quickly running out. If you adopt a LIT or adjust your LIT rate by October 31, the new rate will be in effect – and producing revenue for you – starting January 1, 2018.

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SEC Fines Local Official $37,500

By Susan Borries Reed, Director of Disclosure Strategy and Services, September 21, 2017
Latest News

Since 2014, municipal bond issuers have experienced a heightened focus on continuing disclosure for outstanding bond issues and disclosures to the market for failures to comply with these obligations. Over the past few years, Umbaugh’s client list to which the Firm provides continuing disclosure services has grown to include over 460 filings in Indiana and Michigan.

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Three Compelling Reasons to Address Surplus Bond Proceeds

By Christina L. Cromer, CPA, Principal, September 07, 2017
Latest News

Do you have surplus bond proceeds remaining after completion of a project? There are three very good reasons to develop a plan for utilizing these remaining proceeds.

1. IRS Requirements;
2. Indiana Code Requirements; and
3. Financial Stewardship.

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Is My Fiscal Plan Adequate?

By Deen C. Rogers, CPA, Partner, September 07, 2017
Latest News

Due to the lack of a threat of remonstrance, many communities have traditionally prepared super-voluntary annexation fiscal plans in-house. However, with the change in annexation laws in the summer of 2015, the required content of the fiscal plan became more complex and cumbersome. As a result, many communities have outsourced the preparation of their fiscal plans, even for those super-voluntary annexations that were once pretty simple and straight-forward.

Are you one of those communities that still tackles the challenge of an annexation fiscal plan in-house? If so, are you meeting the new requirements of Indiana Code? Are you well-versed on the proper residential deductions, the application of tax caps and other property tax nuances?

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Umbaugh Continues to Grow

By Umbaugh Announcements, August 24, 2017
Latest News

Inside Public Accounting (IPA) Magazine recently announced the rankings of the nation’s largest public accounting firms. Umbaugh’s ranking has increased to 160th on its list of top 200 CPA firms in the nation.

Earlier Umbaugh was also recognized as the second most active Municipal Advisor (MA) in the Mideast Region and the sixth most active MA in the nation last year by Thomson Reuters.

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