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Libraries

Our Experience

In response to growth and space needs, the Allen County Library, based in Fort Wayne, Indiana, renovated and expanded its main library and upgraded its branch libraries from 2002 to 2007. Umbaugh assisted with the $84 million bond issue to fund those projects.

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Libraries have needs that are different from other units of government. UMBAUGH financial consultants are experienced with library projects – from bond issues to property tax projections. We consider it very fulfilling to help libraries through all the financial aspects of completing a project.

Our Services for Libraries

Most library managers went into that line of work because they really love books and knowledge – not because they enjoy finances or managing facilities! But financial management and keeping your facilities and technology up to the standards today’s library users expect come with the management job. And like other local governmental units these days, most libraries are grappling with how to operate on reduced revenue.

Financial Management – You can spend more time with your beloved books (or electronic media!) when you let UMBAUGH assist you with:

  • Accounting Systems Design, Implementation and Training
  • Audit Preparation and Financial Reporting
  • Budget Preparation Assistance
  • Comprehensive Financial Planning
  • GASB 34 Compliance
  • Performance Management Studies
  • Tax Revenue Analysis and Management

Capital Planning – Library building or major renovation projects may happen just once in your career. They are truly different experiences from your normal operations, requiring specialized skills. UMBAUGH can help with:

  • Debt Management Studies
  • Long-Range Capital Planning and Implementation
  • Project Planning and Financial Development
  • Developing and Evaluating Funding Alternatives
  • Refinancing of Existing Debt
  • Referendum Preparation
  • Financial Presentations to Elected Officials and the Public

Bond Issuance – Bond issues are not something you do every day, and you’ve got to get it right. The stakes are too high to risk a mistake or miss an opportunity to save. Since UMBAUGH is an independent advisor, our only priority is doing what’s best for the libraries we represent. We can provide:

  • Official Statements and Bond Sale Preparations
  • Presentations to Bond Ratings Agencies
  • Evaluation of Bond Insurance Proposals
  • Competitive Bond Sales and Electronic Bidding Services
  • Negotiated Bond Sales and Private Placements
  • Coordination of Bond Closings
  • Assistance to the Trustee Bank

Post Issuance – Unfortunately, the paperwork does not go away after the bonds are sold. You as the bond issuer have a great deal of responsibility for reporting and compliance, at a time when you’d much rather be paying attention to your bond-funded project. UMBAUGH can take those worries off your plate as well with:

  • In-Progress Construction Reports
  • Arbitrage Rebate Calculations
  • Continuing Disclosure Filings
  • Post Issuance Tax Compliance
  • Escrow Verifications
  • Parity Reports

Representative Projects

UMBAUGH has completed over a thousand bond issues ranging from $50,000 to over $500 million.

  • Allen County Public Library, Fort Wayne, IN
  • Capital Area District Library, MI
  • Carmel-Clay Public Library, Carmel, IN
  • Culver-Union Township Public Library, Culver, IN
  • Indianapolis-Marion County Public Library, Indianapolis, IN
  • Johnson County Public Library, Franklin, IN
  • Peabody Public Library, Columbia City, Lansing, IN

Cash Advisory Serivces

Umbaugh Cash Advisory Services, LLC was developed as an independent business entity to help create
structured investment programs for our client's bond proceeds and operating funds.

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