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Umbaugh Municipal Advisors on the Grow in Ohio

By Umbaugh Announcements, December 08, 2016
Latest News

Already ranked as a top ten municipal advisor nationwide, Umbaugh established an Ohio presence in May 2015 with the acquisition of ACI Financial Advisors. In September 2015, the firm expanded its presence by acquiring Prism Municipal Advisors, LLC, which was ranked 2nd among all Ohio financial advisors in total par the previous year. Umbaugh has demonstrated its commitment to the Ohio public finance market by growing from one employee in early 2015 to now having eight associates in the state and relocating its Ohio office to a more permanent location in downtown Columbus. Umbaugh is currently the largest municipal advisory firm in Ohio based on the number of local, client-facing professionals.

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Comparative Utility Rate Surveys Are Available

By , December 01, 2016
Latest News

Umbaugh has prepared its 2016 Comparative Rate Studies for Indiana Stormwater, Water and Sewer Utilities. These studies are the most comprehensive studies of their type available in the state.

These studies are good resources for elected officials, utility officials, engineers, grant administrators, academics, and other professionals serving the utility industry.

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Don’t Lock Up Your Finances-Special Considerations for Jails

By Jason G. Semler, CPA, Partner, December 01, 2016
Latest News

Almost every week there is an article in the paper regarding jail overcrowding or the need to significantly renovate an existing facility. The question that is almost always asked is “How do you fund a jail expansion when local governments are already struggling to do more with less?” As is the case for many large capital projects, issuing long term bonds may be an option to raise the money needed to fund the project.

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Umbaugh Cash Advisory Services Reaches $1 Billion Milestone

By Jeffrey A. Messer, Director of Umbaugh Cash Advisory Services, LLC, November 17, 2016
Latest News

For eleven years, Umbaugh Cash Advisory Services, LLC has been providing independent investment advice for local governments, counties, utilities, schools and libraries. We are excited to announce that we recently exceeded $1 billion in assets under management.

“As Umbaugh Cash Advisory Services has grown its business throughout the years, the primary goal has been to help clients generate additional income within the scope of their investment policy without sacrificing liquidity or safety of principal,” said Jeff Messer, Director of Umbaugh Cash Advisory Services. “As a registered investment advisor we have a fiduciary responsibility, as mandated by the Securities and Exchange Commission, to put our client’s interest first.”

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Utility Asset Renewal Financial Planning

By Doug L. Baldessari, CPA, Partner, November 17, 2016
Latest News

The water and sewer infrastructure in Indiana was constructed and placed into service 50, 75 or even 100 years ago. Much of this infrastructure is underground and is approaching the end of its useful life. This comes at a time when many Indiana communities are facing implementation of their sewer long-term control plans, which for some communities will be their largest infrastructure projects ever.

Developing a financial plan for these asset renewals in combination with long-term control plan projects is more important than ever. A strategic financing plan for these costly asset renewals will help ensure the replacement of the aging infrastructure while limiting large fluctuations in utility rates and the severity of the necessary rate increases. In addition, having an asset renewal plan helps to promote community buy-in and also helps the political leaders communicate the needs to citizens.

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Umbaugh 2016 Comparative Stormwater Utility Rate Studies

By Jeffrey P. Rowe, CPA, Principal, November 10, 2016
Latest News

Indiana public officials, citizens, engineers and utility professionals can now examine and compare stormwater utility rates using the latest Umbaugh Comparative Stormwater Rate study. The study, which currently includes 86 communities, has been updated to provide a current reflection of stormwater rates charged by Indiana municipalities.

Stormwater quality and pollution prevention may not be something your average constituent thinks about regularly. The people in your community tend to take it for granted as part of the group of general services their municipality handles for them. But the costs of handling stormwater have increased as the EPA and IDEM have mandated compliance with the Phase II Rule that requires Municipal Separate Storm Sewer System (MS4) entities to develop Stormwater Quality Management Programs and apply for stormwater permits. In addition, aging infrastructure that needs replacement, reduced grant funding, implementation of long-term control plans, unfunded mandates, expanded environmental regulations and increases in operating expenses combine to pressure municipalities to find new ways to address stormwater related needs. Implementing a stormwater rate is one way to help address these needs.

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Understanding the New Overtime Rule Effective December 1, 2016

By Daniel A. Hedden, CPA, Partner, November 10, 2016
Latest News

A new overtime rule issued by the U.S. Department of Labor effective December 1, 2016, raises the salary threshold for overtime eligibility from $455 per week to $913 per week (or $47,476 annually for a full-year employee). Local government employers have several options for complying with the new rule:

• Raise salaries above the new threshold
• Pay time-and-a-half for overtime work
• Limit hours worked to 40 per week
• Evaluate and realign employee workload to limit overtime
• Utilize comp time
• Some combination of the above

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Your Budget is Adopted Now What?

By Jason G. Semler, CPA, Partner, November 03, 2016
Latest News

Like many administrators you have probably just finished the tedious and painful process of finalizing your community’s 2017 budget. Now that your 2017 budget is adopted this is the perfect time to start planning for 2018 using the 2017 budget as a starting point.

The fiscal challenges of rising costs and property tax losses due to circuit breaker tax caps create difficult budget decisions for many communities across Indiana. It’s possible you have already cut your budget to the bare essentials only to learn from the Department of Local Government Finance you are required to make additional cuts for 2017.

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Long-Term School Corporation Financial Planning-Part 1

By Belvia B. Gray, Principal, November 03, 2016
Latest News

Long-term capital planning is an integral part of managing the overall debt payments for school corporations. It requires planning beyond a year or two – in many cases, replacement plans over a five, ten or fifteen year time horizon may be prudent. As the superintendent or business manager of a school corporation, it is helpful to think about how the facility needs fit into the larger debt profile of the school corporation. Depending on the existing debt structure, the school corporation may choose to structure future debt around debt roll offs to maintain existing payment levels, or it could choose to increase or decrease overall payments.

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TIF Best Practices – Part 2

By Matt Eckerle, Principal, October 20, 2016
Latest News

Three rules to follow for new or existing TIF districts:

1. Consider not creating a TIF district if development is going to grow on its own. Instead, save TIF for projects where it is needed to fund infrastructure for development that wouldn’t otherwise occur. If development may occur without TIF, plan for ways to mitigate the TIF impact on the affected taxing units.

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