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2019 Budget Deadlines

By Paige E. Sansone, CPA, Partner, April 05, 2018
Latest News

Even though we have just started the second quarter of the year, it is time to start thinking about preparing your 2019 Budget. Please note that two budget deadlines have moved up this year to allow the Department of Local Government Finance (“DLGF”) to complete budget certifications by January 1. Cumulative Fund proposals are now due to DLGF by April 30 and Pre-Budget Worksheets are due in Gateway by May 1.

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Tax Rate or Tax Levy Management:  Questions School Corporations Need to Consider

By Belvia B. Gray, CIPMA, Partner, April 05, 2018
Latest News

As part of their project planning process, school corporations need to determine whether their goal is maintaining the tax rate (debt service of total tax rate) at a certain level or keeping the tax levy near current levels.

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Now is the Time for Asset Management Planning

By Jeffrey P. Rowe, CPA, Partner, March 22, 2018
Latest News

Recent studies by the EPA and American Water Works Association (AWWA) estimate the nation’s infrastructure replacement needs in the hundreds of billions of dollars. These studies reinforce Indiana’s own findings. The Indiana Finance Authority’s (IFA) 2016 study identified an immediate need for $2.3 billion just to replace outdated water infrastructure assets. At the same time, many Indiana communities are facing implementation of wastewater long-term control plans, which for some communities is the largest infrastructure project they have ever undertaken.

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Supplemental Local Income Tax (“LIT”) Distributions in May 2018

By Paige E. Sansone, CPA, Partner, March 22, 2018
Latest News

Each year, the State Budget Agency makes a determination as to whether each county’s local income tax trust balance (held at the State level) exceeds 15% of certified distributions. Excess balances above 15% are to be distributed to each affected county as “Supplemental LIT” by May 31. Supplemental LIT should be deposited in a unit’s Rainy Day Fund and must be appropriated by the local fiscal body.

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Pieces of the Puzzle - AV & LIT Analysis

By Andrew O. Mouser, Manager, March 08, 2018

As a public official, you may at times feel stuck in the detail of what is affecting local government funding in your community. Often, taking a moment to step back from the specifics to see the big picture can prove invaluable. To help you, we have created a focused Assessed Value and Local Income Tax Analysis service, or as we call it, AV & LIT Analysis.

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TIF Management:  Part Two

By Matt Eckerle, Principal, March 08, 2018
Latest News

As noted in the last TIF article, if you are planning to issue debt payable from tax increment or to fund projects on a pay-as-you-go basis, you should be aware of the possible revenue impacts of the expiration of your TIF area and its components so you can better manage your planning strategy.

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Natural Disaster Levy Appeal

By Paige E. Sansone, CPA, Partner, March 05, 2018
Latest News

Many communities throughout the State are suffering loss due to flood damage and facing expensive clean-up efforts. After emergency management is complete, finance officers will turn toward financial recovery for extraordinary costs. Fortunately, State Law allows for a temporary increase in property taxes to pay costs related to a natural disaster. Per Indiana code, civil taxing units (excluding school corporations) can file an excess levy appeal with the Department of Local Government Finance (DLGF) by October 19, 2018 for taxes payable in 2019.

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Attention:  New CCD Deadline

By Paige E. Sansone, CPA, Principal, February 22, 2018
Latest News

If you have a CCD fund, you may have noticed the rate declining over the past few years, possibly related to reassessment and annual trending.

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Long Term TIF Management:  Part One in a Series

By Matt Eckerle, Principal, February 22, 2018
Latest News

Tax Increment Financing (TIF) is a well-recognized economic development tool in Indiana and nationally. TIF is used in Indiana to help facilitate development in areas where new development might not otherwise occur. TIF areas in Indiana, depending on their date of establishment and the presence of outstanding debt, may have a term of 25 years to 30 years. Given the frequent legislative changes affecting TIF, active management is a necessity.

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Reminder:  Gateway Debt Verification Due March 1

By Susan Borries Reed, Director of Disclosure Strategy and Services, February 13, 2018
Latest News

Local units of government will once again be required to complete an annual review and verify the accuracy of its debt on the State’s Gateway website.

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