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May 17, 2018 Newsletter (Indiana)

Utilizing TIF to Support Education in Your Community — Tax Increment Financing (TIF) is traditionally viewed as a resource for funding infrastructure, downtown redevelopment or incentives to promote economic development in a community. TIF funds are not generally viewed as a possible source for funding educational programs…

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

May 3, 2018 Newsletter (Indiana)

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

Next Level Roads Program (Part 1) — 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…

April 19, 2018 Newsletter (Indiana)

Update:  Supplemental LIT Distributions — 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…

Does Your Website Have a Link to Gateway? — 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.  The requirement is referenced below: Political Subdivision Summary…

April 5, 2018 Newsletter (Indiana)

2019 Budget Deadlines — 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…

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

March 22, 2018 Newsletter (Indiana)

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

Now is the Time for Asset Management Planning — 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…

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