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Hedden a Presenter at GFOA

By Umbaugh Announcements, June 21, 2016
Latest News

Umbaugh partner Dan Hedden, CPA, was honored to be selected to present at the recently completed Government Finance Officers Association Conference in Toronto, Canada.

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Do You Have a Financial Roadmap to the Future?  Short Term Budgeting Isn’t Sufficient

By Paige E. Sansone, CPA, Partner, June 21, 2016

Large and small communities across Indiana face fiscal challenges due to rising costs, declining revenues, lack of economic growth and property tax losses caused by circuit breaker tax credits. These factors should force you to change the way your community budgets.

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INDOT Local Road and Bridge Matching Grants For Up to $1 Million Now Available

By Paige E. Sansone, CPA, Partner, June 15, 2016
Latest News

A new Ind. Dept. of Transportation grant opportunity for counties and municipalities that have an INDOT-approved transportation asset management plan offers a 50% match up to $1 million. There is no minimum request limitation.

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Changes in Ag AV Could Affect all Taxing Units and Taxpayers

By Belvia B. Gray, Principal, June 15, 2016
Latest News

An April notification from the Indiana Department of Local Government Finance impacts how taxing units and taxpayers will view agricultural property assessed valuation. Recent legislative changes have changed how the base rate will be calculated, which will affect the distribution of property tax liability.

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Distribution System Improvement Charge Filing Could Delay A Full Rate Case

By Doug L. Baldessari, CPA, Partner, June 09, 2016
Latest News

The need to replace your community’s utility infrastructure is on the minds of customers, tax payers, regulators and legislators. It has become painfully obvious utilities must plan for millions of dollars of replacements and improvements in the near future. Many of these improvements will require funding through increased utility rates.

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New Legislation Could Affect Your Maximum Levy

By Paige E. Sansone, CPA, Partner, May 26, 2016
Latest News

Beginning in 2017 the Cumulative Capital Development fund will be outside the maximum levy limit. You’re probably thinking, “Hasn’t that fund always been outside the levy limits?” The answer is no--not exactly.

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SEA 67 Follow-up

By Umbaugh Announcements, May 12, 2016
Latest News

We would like to update you regarding SEA 67 and Local Option Income Tax (LOIT), a special distribution fund. The article, in our previous newsletter, stated the county’s share of the distribution for restricted uses was to be deposited in fund 1228. The new fund number is 1229 and identified as LOIT Special distribution.

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Municipal Wheel Tax Now Allowed for Larger Communities: June 30 Deadline

By Paige E. Sansone, CPA, Partner, May 12, 2016
Latest News

New legislation allows towns and cities with population of 10,000 or more to adopt a municipal wheel tax and surtax. The June 30 deadline is quickly approaching for those municipalities that want to implement the taxes for 2017.

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One-Time Special LOIT Distribution

By Paige E. Sansone, CPA, Partner, May 06, 2016
Latest News

Before June 1, 2016, many taxing units will receive a one-time distribution of Local Option Income Tax pursuant to Senate Enrolled Act 67. For counties and municipalities, 75% of the distribution will be restricted to the following uses:

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Consolidating Local Income Taxes into One Income Tax

By Jason G. Semler, CPA, Partner, May 05, 2016
Latest News

During the 2015 legislative session, the Indiana General Assembly passed legislation designed to consolidate and simplify various local income taxes by repealing the existing local income tax laws and replacing them with a single new local income tax (LIT). The General Assembly also made additional modifications to the new law as well as some technical corrections during the 2016 session. The new law becomes effective July 1, 2016 for income taxes to be received in 2017.

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