Since the Town of Winamac’s financial advisor recently went through a merger, an existing contract required an update.
Continue readingWinamac Town Council Authorizes Clerk-Treasurer to Submit Updated Contract
Winamac Officials Alerted of Umbaugh’s Merger Plans
Winamac Town Council members were recently informed that Umbaugh, the firm they utilize as a financial advisor, is currently in the process of merging with two other companies.
Continue readingNorth Judson Town Council Approves Water Rate Adjustment
Residents in the Town of North Judson will see an increase on their next water bill. When the Town Council met Monday evening, Umbaugh representative Ross Hagan provided members and meeting attendees with the finalized figures for a water rate adjustment.
He stated that an 18.3 percent increase is required to help cover the cost of a required waterworks project. Hagan noted, “Currently your residents are paying for $26.05 for a 4,000-gallon bill, that’s going to be $30.70 now on an average monthly bill.”
Some of the major elements of the project, such as the rehabilitation of the water towers and the installation of a backup generator at the water plant, will bring the town into compliance with mandated standards from the Occupational Safety and Health Administration (OSHA) and the Indiana Department of Environmental Management (IDEM). In other words, these are not cosmetic fixes but necessary upgrades that are required by the state. Continue reading
Knox City Council Establishes Deduction Percentages for JW Hicks Tax Abatements
Knox City Council members considered a resolution Tuesday night that sets the deduction percentages for the real estate and personal property tax abatements that were approved for JW Hicks. Continue reading
Knox City Council Approves Amended General Obligation Bond Ordinance
Knox City Council members considered an amended General Obligation Bond Ordinance when they met last Tuesday.
As a reminder, the city of Knox will be purchasing a pumper truck for the Knox-Center Township Volunteer Fire Department to replace an aging model that is more than 30-years-old.
In order to finance the purchase, the city will be utilizing general obligation bonds. Continue reading
North Judson Department Heads Start Considering Plans for 2019 Budget
North Judson Clerk-Treasurer Andrew Rowe has started the budget process for the 2019 fiscal year by providing all department heads with budget form one to fill out.
Rowe explained that “form ones” list amounts from past budgets for comparison and gives the department heads a chance to provide an estimation of what they expect to see in the next fiscal year. Continue reading
Knox City Council Gets an Early Start on General Obligation Bond Process, at Umbaugh’s Recommendation
Knox Mayor Dennis Estok alerted city council members of some changes to the general obligation bond process when they met last Thursday.
Estok issued an updated timetable for the general obligation bonds that the city will be using to finance the purchase of a pumper truck. He informed members about a suggestion made by the city’s financial advisors that impacted the timeline. Continue reading
Knox Mayor Provides Update About Reducing the Scope of the Wastewater Treatment Plant Rehabilitation Project
Knox Mayor Dennis Estok provided a brief update about the city’s wastewater treatment plant rehabilitation project when city council members met last Tuesday.
Mayor Estok explained that the city was initially trying to obtain a USDA grant. However, that grant was not received and the project had to be reworked to be more financially feasible. Continue reading
Knox City Council Moves Forward with Bond Process Required for Fire Truck Purchase
Steps were taken by Knox City Council members this week to finalize financial arrangements related to a pumper truck that will be purchased for the Knox-Center Township Fire Department.
An appropriation hearing was held and two ordinances were considered on final readings when members met on Tuesday.
These steps were necessary so that when officials are ready to make a payment for the truck, the General Obligation bonds that are being used to finance the purchase will be sold and then the money can be appropriated to pay the fire truck company. Continue reading
Winamac Clerk-Treasurer Shares Findings From Umbaugh’s Utilities Analysis
Winamac Clerk-Treasurer Melanie Berger reviewed the findings from Umbaugh’s budget report when town council members met last Monday.
The town’s financial advisors at Umbaugh looked at the current rates for the electric, water and wastewater utilities and then provided a projection of whether or not current rates will be able to sustain the accounts over the next five years. They also indicated whether or not the utility would see a positive or negative cash flow. Continue reading
Knox City Council Approves Fire Truck Purchase
The Knox City Council members voted unanimously to move forward with the purchase of a pumper truck for the Knox-Center Township Fire Department.
With the motion, members also permitted city officials to communicate with Umbaugh about obtaining a bond for the purchase of the fire truck. Mayor Dennis Estok said that Shawn Cain from KIRPC informed him that no grants are available at this time, so financing for this purchase will come the bond. Continue reading
North Judson Town Council Members Address Leftover Financial Matters of 2017
North Judson Town Council members took care of some final financial business from 2017 when they met in a special session earlier this week.
Monday night, members approved a resolution to transfer appropriated funds from various motor vehicle highway accounts. Clerk-Treasurer Andrew Rowe explained that while meeting with Umbaugh representatives, he was alerted there were a few adjustments that needed to be made to keep everything in the black. Continue reading
Umbaugh Rep Presents Knox City Council with Financial Option for Fire Truck Purchase
At Tuesday night’s Knox City Council meeting, members heard a presentation about obtaining a bond to purchase a new fire truck. Fire Chief Kenny Pfost told council members that the vehicle they’re looking to replace is a pumper truck that is nearly 30 years old.
John Julien from Umbaugh provided the presentation and stated that the projected cost of the truck is approximately $600,000 and Umbaugh’s service charge would come in at about $50,000. Continue reading
Knox City Council and Board of Public Works to Hold Join Work Session Tonight
The Knox City Council and the Board of Public Works will hold a joint work session to discuss the employee handbook tonight. It will be held at 6 p.m., prior to their regular session.
The regular session will commence at 7 p.m. where the approval of the new employee handbook will be up for consideration.
Additionally, members will consider a KIRPC Grant Administration Agreement and John Julien with Umbaugh will be discussing bonding for a fire truck. Continue reading
Town of Winamac Continues Contract with Umbaugh for Budget Assistance
Winamac town council members permitted Clerk-Treasurer Melanie Berger to move forward with a contract with Umbaugh and Associates for financial assistance with the 2019 budget.
Berger explained that the contract remained the same and the fee is still around $7,000. Last year, the majority of their efforts went toward helping them figure out issues with the Local Income Tax. Continue reading
Knox Redevelopment Commission Approves TIF Districts
The Knox Redevelopment Commission gave its approval Monday to update an existing tax increment financing district, as well as to create a new one. Continue reading
Eastern Pulaski Begins Planning Investments
The Eastern Pulaski School Board took the first step Monday in eventually allowing the school corporation to invest some of its funds. Continue reading
Culver School Board Approves Bond Refunding
The Culver School Board has approved refunding its 2006 bonds and using the savings to fund improvement projects. Continue reading
Culver School Board Hires Financial Adviser for Bond Refunding
The Culver School Board has chosen financial advising firm Umbaugh to help with bond refunding. Continue reading
Culver School Board Takes Proposals Under Advisement
The agenda for the Culver Community School Board meeting was slightly amended yesterday evening. Rather than having the bond refinancing opportunity presentation after the consent items, the representative from Bose McKinney & Evans LLP spoke first. Continue reading
