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Umbaugh Announces New Partners

By Umbaugh Announcements, February 16, 2017
Latest News

We are very proud to announce Loren Matthes, Jesse Nelson, Deen Rogers, Jeff Rowe and Eric Walsh all became partners at Umbaugh on January 1st. Together they have over 78 years of experience at Umbaugh.

We value all our personnel and are especially pleased to watch someone meet the challenges presented and grow into greater responsibilities. You may click on their name or picture below to read more about them.

Congratulations!

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Long-Term School Corporation Financial Planning-Part 2

By Belvia B. Gray, CIPMA, Principal, January 26, 2017
Latest News

In a prior issue of Vision we talked about how important long-term capital planning is for managing the overall debt payments for a school corporation. We talked about different ways in which new money bonds could be structured to meet the current and future needs of the school corporation. In this article, we’ll focus on another tool for managing the overall debt payments – refunding of existing debt.

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Other Post-Employment Benefits (OPEB) Filing Due March 1

By Paige E. Sansone, CPA, Partner, January 26, 2017
Latest News

What is OPEB?

“OPEB” stands for Other Post-Employment Benefits. Pension is the most common post-employment benefit. As the name suggests, Other Post-Employment Benefits (“OPEB”) are benefits other than pensions. Typical examples are health, dental, vision and life insurances; prescription or other healthcare benefits; and other benefits provided to eligible retirees and, in some cases, their beneficiaries.

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Upcoming Deadlines

By Paige E. Sansone, CPA, Partner, January 12, 2017
Latest News

As the New Year begins, it is time to focus on wrapping up the previous year. At the close of December, all records must be posted and reconciled with bank statements as promptly as possible. Utilities and other departments maintaining separate records must also be reconciled. Below are upcoming deadlines prescribed by the State Board of Accounts for the first few months of the year. Please note that this is not a comprehensive list; you should check the State Board of Accounts Accounting and Compliance Guidelines Manuals for more information at http://www.in.gov.

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Heidi Amspaugh Elected Treasurer of Indiana Economic Development Association

By Umbaugh Announcements, January 12, 2017
Latest News

Heidi Amspaugh, CIPMA, of Umbaugh was elected to be an officer of the Indiana Economic Development Association (“IEDA”) in the position of Treasurer. She has served on the IEDA board of directors for the past four years.

Heidi has been involved with IEDA for ten years. She currently serves on the program committee, is a founding member of the IEDA Young Professional Affinity Group, and has participated as an instructor for IEDA’s Director Course since its inception.

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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 Umbaugh Announcements, 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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