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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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Don’t Miss Redevelopment Commission 2018 Reporting Deadlines

By Matt Eckerle, Principal, February 07, 2018
Latest News

Redevelopment Commissions must meet several reporting deadlines during the 2018 calendar year. It is important to adhere to these requirements as the DLGF tracks compliance and failure to meet the excess notification and neutralization deadlines can jeopardize your ability to capture incremental assessed value.

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

By Paige E. Sansone, CPA, Partner, February 07, 2018
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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Umbaugh #5 in National Rankings

By Umbaugh Announcements, February 01, 2018
Latest News

Once again, we are proud to be ranked in the top ten of all municipal advisors in the U.S. by the Thomson Reuters reporting company. For 2017, Umbaugh ranked fifth in the nation for the number of public market municipal bonds with a par amount of $10 million or less.

Moreover, Umbaugh served as municipal advisor to more than 344 bond issues in 2017 ranging from $237,000 to over $285 million and totaling over $3.4 billion par. These statistics include the Indiana State Revolving Fund, USDA Rural Development financings, and private placements on which Umbaugh worked last year.

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Upcoming Deadlines for 2018

By Paige E. Sansone, January 25, 2018
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/sboa.

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Umbaugh Partner Doug Baldessari Elected IWEA Vice President

By Announcements, January 25, 2018
Latest News

Doug Baldessari, CPA, has been elected Vice-President of the Indiana Water Environment Association (IWEA). He begins his term this month. He has served on the IWEA Board of Directors for the past three years as Secretary/Treasurer. Doug has also been involved with IWEA through his service on the Joint Utility Management Committee and as the Utilities Industry Group Leader for Umbaugh.

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