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The Mechanics of Property Tax Abatement

By Matt Eckerle, Principal, May 13, 2015
Latest News

In the last issues of Vision, we’ve talked about Tax Increment Financing (TIF) and property tax abatement as financial tools for your “toolbox” of local incentives to make your community a more desirable location in the eyes of new or growing companies.

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

By Gerald G. Malone, CPA, Partner, May 13, 2015
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Part 4 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. The change in local government funding didn’t happen overnight, and we can’t solve every challenge immediately.

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Cumulative Funds

By Paige E. Sansone, CPA, Principal, April 29, 2015
Latest News

Is it time to establish or re-establish the rate on your cumulative fund? The main reasons to do so include: accumulating funds for future capital expenditures, eliminating or reducing the need to borrow (and the interest costs that go with it) and, in some cases, alleviating burdens on operating funds.

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Did You Know?

By Deen C. Rogers, CPA, Principal, April 29, 2015
Latest News

Did you know Umbaugh can help you with your Transportation Investment Generating Economic Recovery (TIGER) Grant application? We can! We have helped multiple governmental units prepare the benefit-cost analysis that is a required part of the TIGER Grant application.

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Property Tax Abatement: Another Economic Development Tool - Part 2 in the series

By Matt Eckerle, Principal, April 29, 2015
Latest News

In past issues 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 and the advantages and disadvantages of property tax abatement, 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.

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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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