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Cities and Towns Face Changes to Transportation Funding Distributions and Reporting Requirements

By Eric Walsh, CPA, Partner, May 17, 2018
Latest News

In April 2017, Indiana legislature passed HB 1002, a sweeping bill covering transportation infrastructure funding. Among the bill’s many provisions, of note were changes related to State motor vehicle highway distributions and how local governmental entities are permitted to use their distributions.

HB 1002 calls for an incremental increase in the amounts distributed from the motor vehicle highway account to state and local units to 60 percent for state units and 40 percent for local units after June 30, 2022. This reflects an increase from the current 53 percent and 47 percent for state and local units, respectively.

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In the World of Circuit Breakers, More Counties Turning to Local Income Tax

By Jason G. Semler, CPA, Partner, May 03, 2018
Latest News

Local Income Tax (LIT) is a resource that communities are increasingly relying on as pressures build on property tax revenues. With the greater flexibility now allowed since CAGIT, CEDIT and COIT were consolidated into a single LIT, you may wonder what options you have with the various rate components and how your county’s total rate stacks up to your peers.

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Next Level Roads Program (Part 1)

By Jeffrey P. Rowe, CPA, Partner, May 03, 2018
Latest News

In 2017 the State announced a 20-year program to begin implementing projects aimed at improving the condition of the State’s roads and bridges. The State released a plan for INDOT projects to be completed during the first five years and can be found at http://nextlevelroads.indot.in.gov.

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Update:  Supplemental LIT Distributions

By Paige E. Sansone, CPA, Partner, April 19, 2018
Latest News

Previously, we published an article that stated the supplemental distribution of LIT (to be distributed in May) should be receipted to the Rainy Day Fund. We have recently obtained information from the State Board of Accounts that indicates the supplemental distribution may be receipted to the Rainy Day Fund or the General Fund unless otherwise directed. If the distribution includes Economic Development and/or Public Safety LIT those amounts may be receipted to the LIT Economic Development (EDIT) and LIT Public Safety funds. The uses of the supplemental distributions are limited to the uses of the fund into which they are receipted.

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Does Your Website Have a Link to Gateway?

By Eric Walsh, CPA, Partner, April 19, 2018
Latest News

If your political subdivision has a website, you are required to permanently display a link to the Indiana Gateway for Government Units' website on your homepage.

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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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