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Vigo County Oversight BoardApr 9, 2026

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Automatic transcription, not the official record. This is what speech recognition heard at the meeting; it mis-hears names and numbers, and no editor has checked it. The clerk's minutes are the official record. Every line links to the moment in the recording — check anything that matters.

Voices were separated automatically and named from the meeting's speaker roster where the evidence supported it. An unnamed voice shows as Speaker 12 — a machine label, not a person's name.

Meeting
Vigo County Oversight Board · Apr 9, 2026
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0:36:11
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133
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  1. 0:00:00 — open the recording at 0 secondsSpeaker 0 I pledge allegiance to the flag of the United States of America, and to the republic for which it stands, one nation, under God, indivisible, with liberty and justice for all.

  2. 0:00:14 — open the recording at 14 secondsMark Matheny (oversight board member) all right good morning everybody um we have minutes from two weeks ago uh we're off last week just went great so those were sent out to the board thank you carrie for the motion

  3. 0:00:27 — open the recording at 27 secondsSpeaker 8 (chair) thank you mark all those in favor say aye aye all right mr barry ready to jump right into it sure

  4. 0:00:35 — open the recording at 35 secondsTim Berry (financial consultant (Crowe)) Good morning, everyone. Tim Berry with Crow. We have been engaged by the Oversight Committee to analyze not only the financial condition

  5. 0:00:54 — open the recording at 54 secondsTim Berry (financial consultant (Crowe)) of the county as it exists today, looking forward, taking into account analysis that Baker Tilly has been doing and is continuing to do with respect to forward planning over the next five years, looking at future revenues and expenditures of county government. I want to start off with the questions that anyone could have, and that is the state of Vigo County's finances is really strong. The Government Finance Officers Association, which provides recommendations, best practices for finance officers of local governments, state governments across the country, recommends

  6. 0:01:51 — open the recording at 1 minute 51 secondsTim Berry (financial consultant (Crowe)) uh in general a two-month reserve uh in cash uh for uh local units of government they also though do ask and encourage people to look at risk and analyze local risks and while While over the past years, Vigo County's revenues have been very stable, the state of Indiana through Senate Bill 1 has added some instability to that moving forward. taxpayers will be receiving additional tax breaks as we phase that in over the next five years. That will cause some impact to a circuit breaker. That will cause some limitations on property tax

  7. 0:02:57 — open the recording at 2 minutes 57 secondsTim Berry (financial consultant (Crowe)) revenues at the same time uh there is an unstated um kind of uh position that uh local units of

  8. 0:03:09 — open the recording at 3 minutes 9 secondsTim Berry (financial consultant (Crowe)) government will depend more on local income tax dollars moving forward than they have in the past And we all know that while local income tax dollars have been fairly stable in collections,

  9. 0:03:29 — open the recording at 3 minutes 29 secondsTim Berry (financial consultant (Crowe)) certainly here in Bego County, they do fluctuate some with economic upturns and downturns more

  10. 0:03:40 — open the recording at 3 minutes 40 secondsTim Berry (financial consultant (Crowe)) so than you get with property tax receipts um and so you might want to consider that as the county

  11. 0:03:50 — open the recording at 3 minutes 50 secondsTim Berry (financial consultant (Crowe)) looks at a policy for reserves um so but um you know overall while you look at the cash balances

  12. 0:04:04 — open the recording at 4 minutes 4 secondsTim Berry (financial consultant (Crowe)) of all funds and see 169 million dollars you realize that a lot of those dollars are in

  13. 0:04:11 — open the recording at 4 minutes 11 secondsTim Berry (financial consultant (Crowe)) dedicated sources dedicated funds that can cannot and do not have fungibility or flexibility for all

  14. 0:04:21 — open the recording at 4 minutes 21 secondsTim Berry (financial consultant (Crowe)) uses so let's look specifically to start things off at the general fund and the general fund is where vigo county and most units of government utilize their specific expenditures for the

  15. 0:04:40 — open the recording at 4 minutes 40 secondsTim Berry (financial consultant (Crowe)) operations of of local government vigo county today or i should say at the end of um 2025 had a general fund cash balance of 32 million 847 thousand one hundred and ninety six dollars um that uh large cash balance uh has been fairly consistent at a little over 60 percent

  16. 0:05:16 — open the recording at 5 minutes 16 secondsTim Berry (financial consultant (Crowe)) of annual expenditures of Vigo County over the last five years. It's varied some, it's gone up as much as 71%, but has hovered around that 60% range.

  17. 0:05:34 — open the recording at 5 minutes 34 secondsTim Berry (financial consultant (Crowe)) At 20% reserve would be just nearly $11 million in annual expenditures. So you see, you have a little more than 22 million over that. I will add some caution though. In 2025, expenditures outpaced revenues

  18. 0:06:01 — open the recording at 6 minutes 1 secondTim Berry (financial consultant (Crowe)) within the general fund by nearly $1.7 million. And based on what we have seen so far moving forward,

  19. 0:06:11 — open the recording at 6 minutes 11 secondsTim Berry (financial consultant (Crowe)) that is expected to continue over the next few years.

  20. 0:06:15 — open the recording at 6 minutes 15 secondsTim Berry (financial consultant (Crowe)) So there is some caution with regards to that as it relates to what those expenditures are.

  21. 0:06:26 — open the recording at 6 minutes 26 secondsTim Berry (financial consultant (Crowe)) We are waiting for updated numbers from Baker Tilly. I know they've been working with the commissioners on that five-year forward-looking estimate with revenues and expenditures.

  22. 0:06:41 — open the recording at 6 minutes 41 secondsTim Berry (financial consultant (Crowe)) and we will certainly look at that and evaluate that once we receive that. But know that at a little over 60% of annual expenditures within the general fund today,

  23. 0:06:56 — open the recording at 6 minutes 56 secondsTim Berry (financial consultant (Crowe)) state of Vigo County's finances is very, very strong. and to ever state that Vico County's finances are not is is certainly an exaggeration

  24. 0:07:11 — open the recording at 7 minutes 11 secondsSpeaker 27 in addition we looked and analyzed some of the other major revenue sources

  25. 0:07:22 — open the recording at 7 minutes 22 secondsTim Berry (financial consultant (Crowe)) uh looked at uh your edit funds which are very strong as well uh i know the commissioners have been looking at some expenditures there and those are anticipated in 2026 here this year and accumulated large dollar amounts in that fund for such situations which is good smart prudent management knowing what your long-term capital needs are going to be accumulating funds to meet those capital needs and planning for that in the future in 2022 the vigo county council adopted an ordinance 2020-03, which allowed for and called for the county to put into reserve dollars necessary

  26. 0:08:26 — open the recording at 8 minutes 26 secondsTim Berry (financial consultant (Crowe)) to pay off the jail bonds that were issued in 2019, early when they were eligible to be called in 2029. I believe July of 2029 is the date. There was a 10-year call on those funds when we issued those. And to date, the revenues within both the jail special purpose

  27. 0:08:53 — open the recording at 8 minutes 53 secondsTim Berry (financial consultant (Crowe)) fund and the jail correctional facilities fund have been outpacing what was estimated.

  28. 0:09:02 — open the recording at 9 minutes 2 secondsTim Berry (financial consultant (Crowe)) And expenditures coming out of those funds have not outpaced what was planned. And today, when the council adopted the resolution or the ordinance in 2022, they estimated that

  29. 0:09:22 — open the recording at 9 minutes 22 secondsTim Berry (financial consultant (Crowe)) by this point in time, or they called for within those reserves, that as of this date door January 1 of this year that there would be a target reserve balance of $10,575,000 in the jail special purpose.

  30. 0:09:42 — open the recording at 9 minutes 42 secondsTim Berry (financial consultant (Crowe)) There is today a cash balance of $13,957,434, $3.3 million, nearly $3.4 million more than

  31. 0:09:57 — open the recording at 9 minutes 57 secondsTim Berry (financial consultant (Crowe)) what was planned.

  32. 0:10:00 — open the recording at 10 minutesTim Berry (financial consultant (Crowe)) Then the correctional rehab facilities lit. The ordinance called for a reserve balance today of $5.5 million.

  33. 0:10:13 — open the recording at 10 minutes 13 secondsTim Berry (financial consultant (Crowe)) And as of January 1 this year, the reserve balance was $24,517,887.

  34. 0:10:21 — open the recording at 10 minutes 21 secondsTim Berry (financial consultant (Crowe)) So can you restate that one too? million five hundred seventeen thousand eight hundred and eighty seven dollars what was that

  35. 0:10:33 — open the recording at 10 minutes 33 secondsTim Berry (financial consultant (Crowe)) target target was 5.5 million so the combined target of both of those funds uh as of this time was a little over 16 million uh 16 million 075 and today you have 38 million 475 321.

  36. 0:10:56 — open the recording at 10 minutes 56 secondsTim Berry (financial consultant (Crowe)) in other words uh when the bonds will be paid off in or eligible to be paid off that's a decision that the county would make at that point in time but when they would be eligible to be paid off it is estimated that they would need a little over 29 million dollars and today they have more than that in cash on hand already so from that respect good prudent fiscal management

  37. 0:11:29 — open the recording at 11 minutes 29 secondsTim Berry (financial consultant (Crowe)) the county in operating and managing those revenues and those expenditures to prepare

  38. 0:11:37 — open the recording at 11 minutes 37 secondsTim Berry (financial consultant (Crowe)) for a decision of the future. That ordinance does not require that. It just requires the

  39. 0:11:47 — open the recording at 11 minutes 47 secondsTim Berry (financial consultant (Crowe)) annual allocation of dollars into those reserves at that point in time. And that would then be a decision that the county would need to make, would want to make based upon economic conditions at that time.

  40. 0:12:08 — open the recording at 12 minutes 8 secondsSpeaker 37 And understanding also as well what their challenges would be.

  41. 0:12:13 — open the recording at 12 minutes 13 secondsMark Matheny (oversight board member) Tim, does the bond rate drops when those bonds are callable, right? Does it drop like 3%?

  42. 0:12:20 — open the recording at 12 minutes 20 secondsSpeaker 40 call the bond the uh interest rate on those bonds

  43. 0:12:36 — open the recording at 12 minutes 36 secondsTim Berry (financial consultant (Crowe)) the interest rate on those bonds are um

  44. 0:12:42 — open the recording at 12 minutes 42 secondsTim Berry (financial consultant (Crowe)) yes i believe a little over three percent at that point in time

  45. 0:12:45 — open the recording at 12 minutes 45 secondsSpeaker 41 And they're currently 5%, I believe.

  46. 0:12:55 — open the recording at 12 minutes 55 secondsTim Berry (financial consultant (Crowe)) So as a result, the county's finances are strong and good, prudent fiscal management.

  47. 0:13:05 — open the recording at 13 minutes 5 secondsTim Berry (financial consultant (Crowe)) One of the things that you certainly allows you to be in a position that you are today, this discussion in this dialogue for the future of the community of eco County we

  48. 0:13:19 — open the recording at 13 minutes 19 secondsTim Berry (financial consultant (Crowe)) also were asked to review other areas that we have actually seen some

  49. 0:13:30 — open the recording at 13 minutes 30 secondsTim Berry (financial consultant (Crowe)) participation of units of government and recently there was an announcement from the City of Fishers, where the City of Fishers has committed and entered into an interlocal agreement with the Hamilton Southeastern School Board. An agreement that is not unique to Fishers. They've entered into interlocal agreements with the school board in the past over other areas, operation of an agri-park in the community. But in this case, they entered into an agreement for the upgrade as well as addition of athletic fields facilities for Hamilton Southeastern

  50. 0:14:23 — open the recording at 14 minutes 23 secondsTim Berry (financial consultant (Crowe)) School Corporation. They also entered into a long-term agreement where they would be hiring

  51. 0:14:29 — open the recording at 14 minutes 29 secondsTim Berry (financial consultant (Crowe)) an overall district-wide athletic director that would be under the auspices of the city of fishers

  52. 0:14:39 — open the recording at 14 minutes 39 secondsTim Berry (financial consultant (Crowe)) in working in coordination and cooperation with hamilton southeastern schools in programming those facilities in programming those facilities not only for the schools but for community use

  53. 0:14:56 — open the recording at 14 minutes 56 secondsTim Berry (financial consultant (Crowe)) as well um and uh we certainly are and that is a long-term agreement that uh the city of fishers and may fatness have recently reached uh um basically uh coming together looking at the

  54. 0:15:12 — open the recording at 15 minutes 12 secondsTim Berry (financial consultant (Crowe)) needs of the community looking in uh how the city of fishers could help uh hsc schools uh compete but also looking at the community and how they could provide better athletic as well as opportunities for younger families but as well adults who are not participating within the school

  55. 0:15:37 — open the recording at 15 minutes 37 secondsTim Berry (financial consultant (Crowe)) corporation utilizing those facilities and that is anticipated to be in excess of 3.6 million dollars

  56. 0:15:48 — open the recording at 15 minutes 48 secondsSpeaker 19 that their commitment is in just this case alone. I think it's interesting that a community like

  57. 0:15:55 — open the recording at 15 minutes 55 secondsHeather LaBella (oversight board member) Hamilton County needs their school district needs assistance.

  58. 0:16:04 — open the recording at 16 minutes 4 secondsTim Berry (financial consultant (Crowe)) Uh, certainly, uh, many school corporations, uh, across the state are seeing, uh, challenges to

  59. 0:16:11 — open the recording at 16 minutes 11 secondsTim Berry (financial consultant (Crowe)) their ADM numbers. Certainly they're looking at revenues and utilization of fields as well as academic buildings and recognizing the challenges that they have in meeting those needs now but also into the future. And I think that's where Mayor Fatness looked at the opportunity to partner and thought it was a win-win situation for his residents.

  60. 0:16:49 — open the recording at 16 minutes 49 secondsSpeaker 11 And I would entertain any questions that you may have with regards to where things are,

  61. 0:16:57 — open the recording at 16 minutes 57 secondsTim Berry (financial consultant (Crowe)) but I do want to make note just a little bit first before we go there, as we talked at

  62. 0:17:03 — open the recording at 17 minutes 3 secondsTim Berry (financial consultant (Crowe)) local income tax dollars uh and i talked about senate bill one

  63. 0:17:11 — open the recording at 17 minutes 11 secondsTim Berry (financial consultant (Crowe)) some of the effects of senate bill one are going to be seen this year we're going to begin seeing uh pressures on circuit breaker uh more pressures on circuit breaker this county and others across the state have seen continued pressures upon circuit breaker over the years. This is one of those hardest hit communities where they have lost more percentage of property tax levy to Circuit Breaker traditionally than nearly any other county

  64. 0:17:46 — open the recording at 17 minutes 46 secondsTim Berry (financial consultant (Crowe)) state of Indiana. And so with that effect to see the financial condition of the county as strong as it is, is really encouraging and knowing where they are. The next effect of

  65. 0:18:01 — open the recording at 18 minutes 1 secondTim Berry (financial consultant (Crowe)) Senate Bill 1 or big effect of Senate Bill 1 will be potential changes to local income tax dollars.

  66. 0:18:10 — open the recording at 18 minutes 10 secondsTim Berry (financial consultant (Crowe)) Originally, under Senate Bill 1, the changes within local income taxes were to take effect

  67. 0:18:17 — open the recording at 18 minutes 17 secondsTim Berry (financial consultant (Crowe)) in uh adopted in 2027 to take effect for revenues from all units of government beginning in 2028

  68. 0:18:27 — open the recording at 18 minutes 27 secondsTim Berry (financial consultant (Crowe)) during the general assembly session this year that was pushed back

  69. 0:18:31 — open the recording at 18 minutes 31 secondsTim Berry (financial consultant (Crowe)) at one point in time there was discussion of pushing it back two years um but in uh final um um enactment of uh House Bill 12 uh 1012 uh it uh ended up as a one-year delay within the local

  70. 0:18:48 — open the recording at 18 minutes 48 secondsTim Berry (financial consultant (Crowe)) income tax changes today uh local income taxes across the county uh this year in 2026 uh are expected to bring in 56 million 798 dollars for all units across the county of that though the receives the largest piece of that at 33 million four hundred thousand or a little over or nearly 59 percent of total revenues the city of Terre Haute is the next largest recipient of local income tax dollars at 18 million in the schools today will receive about 1.6 million dollars that obviously will be another potential change when those local income tax dollars are allocated

  71. 0:19:43 — open the recording at 19 minutes 43 secondsTim Berry (financial consultant (Crowe)) moving forward the state has has called for each county to come together and with a must committee. And in so doing to see if each community can come together on allocation

  72. 0:20:02 — open the recording at 20 minutes 2 secondsTim Berry (financial consultant (Crowe)) of local income tax dollars, report that back to the General Assembly by December of this year, so that, or DLGF by this year, December of this year, so that DLGF, the Department of Local

  73. 0:20:19 — open the recording at 20 minutes 19 secondsTim Berry (financial consultant (Crowe)) government finance can prepare that report to the General Assembly prior to the 2027 legislative

  74. 0:20:30 — open the recording at 20 minutes 30 secondsTim Berry (financial consultant (Crowe)) session. So that is a charge that each county is required to look at and report as to whether they

  75. 0:20:43 — open the recording at 20 minutes 43 secondsTim Berry (financial consultant (Crowe)) can come to an agreement or not or do they have a suggested allocation of local income tax dollars moving forward again that is not binding um because uh local decisions you cannot bind a future council or councils, but that certainly is a step forward in drawing some community cooperation, again, on how dollars would be allocated in the future. Given the fact that the county today receives such a large percentage of those dollars, as we look forward into the future, that will some certainly be something that will be important to look at and understand as the oversight

  76. 0:21:37 — open the recording at 21 minutes 37 secondsTim Berry (financial consultant (Crowe)) committee looks to any potential recommendations that they might want to make moving forward

  77. 0:21:51 — open the recording at 21 minutes 51 secondsSpeaker 61 with that i take any questions that you have yeah 10-1 um so just just in general this is

  78. 0:21:57 — open the recording at 21 minutes 57 secondsSpeaker 63 (oversight board member) at a very high level what do you what are you hearing at the state level they're obviously from a public school standpoint cut cut cut which has led to where where the corporation is at or most corporations are at is the general feeling give communities the flexibility with lit to make each decision within a community so we basically they're putting the decision on the

  79. 0:22:21 — open the recording at 22 minutes 21 secondsSpeaker 64 community to decide where where education is valued such as black and white so not all school

  80. 0:22:35 — open the recording at 22 minutes 35 secondsTim Berry (financial consultant (Crowe)) corporations do receive a local income tax allocation depending upon the type of local

  81. 0:22:42 — open the recording at 22 minutes 42 secondsTim Berry (financial consultant (Crowe)) income tax that a county has adopted in the past. Here you receive about 1.6 million in local income tax dollars this year of the total nearly 57 million dollars that is collected.

  82. 0:23:02 — open the recording at 23 minutes 2 secondsTim Berry (financial consultant (Crowe)) So local income tax dollars have traditionally been used largely for cities and towns and counties,

  83. 0:23:10 — open the recording at 23 minutes 10 secondsSpeaker 37 townships libraries but schools have been a very small recipient of local income tax dollars

  84. 0:23:18 — open the recording at 23 minutes 18 secondsTim Berry (financial consultant (Crowe)) so all of this is oh sorry finish your thought here finish your thought yeah um and so um schools under the senate bill one moving forward were not really brought into that conversation with regards to local income tax revenues as it related to Senate Bill 1 and then the updated House Bill 1012 this year. Very little guidance has been provided on the MUST committee. And so as such, I really can't tell you what I believe the General Assembly is thinking

  85. 0:24:14 — open the recording at 24 minutes 14 secondsTim Berry (financial consultant (Crowe)) or has been thinking and what impacts what happens in May and November will have on General Assembly thinking come January.

  86. 0:24:31 — open the recording at 24 minutes 31 secondsSpeaker 76 Can you tell us a little bit about the mechanics of how that SB1 works as it stands today?

  87. 0:24:41 — open the recording at 24 minutes 41 secondsTim Berry (financial consultant (Crowe)) As it stands today, today, Vigo County has a 2% local income tax rate.

  88. 0:24:51 — open the recording at 24 minutes 51 secondsSpeaker 11 That 2% rate was increased from 2% in 2018, as I recall, and went into effect in 2019.

  89. 0:25:14 — open the recording at 25 minutes 14 secondsTim Berry (financial consultant (Crowe)) there was an increase at that point in time for the jail of point one for the public safety

  90. 0:25:25 — open the recording at 25 minutes 25 secondsTim Berry (financial consultant (Crowe)) answering point PSAP of point two for special jail special purpose and a point two five for

  91. 0:25:35 — open the recording at 25 minutes 35 secondsTim Berry (financial consultant (Crowe)) jail correctional facilities rate and because all of those rates that were added in 2018 are revenues that go to the county. The county receives all of those revenues from that piece.

  92. 0:25:52 — open the recording at 25 minutes 52 secondsTim Berry (financial consultant (Crowe)) There also was an increase in public safety lit at that point in time of 0.2%. And public safety lit

  93. 0:26:00 — open the recording at 26 minutesTim Berry (financial consultant (Crowe)) is distributed to anyone who has a police fire department. So the county receives it, the city receives it, as do any other jurisdiction.

  94. 0:26:12 — open the recording at 26 minutes 12 secondsTim Berry (financial consultant (Crowe)) As it relates to moving forward, they provided that under, as it exists today, under statute, if a must agreement is not reached, a county can adopt a local income tax not to exceed 1.2%. percent a municipality uh over 3 500 people can adopt their own local income tax rate of not to exceed 1.2 percent um and then the county council has the authority to adopt a rate of 0.5 percent more that could cover 0.2 percent for libraries and townships or 0.4 percent for fire service territories and fire districts you see though that that's 0.6 percent and I said they could

  95. 0:27:17 — open the recording at 27 minutes 17 secondsTim Berry (financial consultant (Crowe)) only increase it by 0.5 so the county council would not be able to adopt the 0.4 and the 0.2

  96. 0:27:24 — open the recording at 27 minutes 24 secondsTim Berry (financial consultant (Crowe)) they would at the most be able to adopt one tenth off of one of those as a max as it exists today.

  97. Highlight drawn from this moment: Oversight board pushes school-funding recommendation from April to July

    0:27:35 — open the recording at 27 minutes 35 secondsTim Berry (financial consultant (Crowe)) The must committee was put together or the must proposal came together to really recognize that each community in the state has differing challenges with regards to operations, revenues, expenditures, and moving forward and see if communities can come together. Distribution of local income tax dollars today is based upon the property tax levy of

  98. 0:28:09 — open the recording at 28 minutes 9 secondsTim Berry (financial consultant (Crowe)) each jurisdiction. So you receive dollars based upon your property tax levy within the budget that has been adopted by the councils whether that be the county council the city council um or whatever jurisdiction moving forward um the plan would be that revenues collected from

  99. 0:28:39 — open the recording at 28 minutes 39 secondsTim Berry (financial consultant (Crowe)) a specific area would be returned to that specific area and that's something that we've not been able

  100. 0:28:46 — open the recording at 28 minutes 46 secondsTim Berry (financial consultant (Crowe)) to do in the past and so if the county would adopt a 1.2 percent rate that would be enacted

  101. 0:28:58 — open the recording at 28 minutes 58 secondsTim Berry (financial consultant (Crowe)) on all residents of the county if the city of terra hope were to adopt a 1.2 percent rate that would be on top of that 1.2 percent rate and that would only be charged upon the residents of

  102. 0:29:14 — open the recording at 29 minutes 14 secondsTim Berry (financial consultant (Crowe)) the city of terra and then there would be other layering going in based upon fire and based upon library services um that's how it exists today under the proposed chain not the proposed the adopted changes um to the local income statutes but with the adoption of um

  103. 0:29:42 — open the recording at 29 minutes 42 secondsTim Berry (financial consultant (Crowe)) the amendment this year for the must committee um it allows some flexibility for communities to come to a mutual agreement if they can come to a mutual agreement and make recommendations back to the general assembly for how they would do so there is no requirement that the general

  104. 0:30:05 — open the recording at 30 minutes 5 secondsTim Berry (financial consultant (Crowe)) assembly adopt language that would allow for that but it is expected that that might occur

  105. 0:30:11 — open the recording at 30 minutes 11 secondsSpeaker 83 The Department of Revenue has continued to collect all that and distribute it accordingly?

  106. 0:30:18 — open the recording at 30 minutes 18 secondsSpeaker 27 The plan is, yes, as opposed to some states where individuals would file a state tax return

  107. 0:30:28 — open the recording at 30 minutes 28 secondsTim Berry (financial consultant (Crowe)) and a local income tax return. There is no call for a local income tax return. dollars would be collected by the department of revenue and allocated back as they collect

  108. 0:30:41 — open the recording at 30 minutes 41 secondsHeather LaBella (oversight board member) the dollars today and allocate that okay no changes in that tim do you know of the current two percent uh local income tax you said six five is specific to the county they capture all that

  109. 0:31:00 — open the recording at 31 minutesHeather LaBella (oversight board member) do you know what like the effective county percentage is of the two percent and how that

  110. 0:31:09 — open the recording at 31 minutes 9 secondsTim Berry (financial consultant (Crowe)) relates to the future potential one based upon the revenues that they have today we anticipate

  111. 0:31:15 — open the recording at 31 minutes 15 secondsTim Berry (financial consultant (Crowe)) that they would need to collect under that proposed statute close to 1.2 to meet the

  112. 0:31:25 — open the recording at 31 minutes 25 secondsSpeaker 91 same revenue streams that they have today okay so the county is able to replace their existing

  113. 0:31:31 — open the recording at 31 minutes 31 secondsSpeaker 94 revenue we believe the county is able to replace that but it will be close yes great

  114. Highlight drawn from this moment: Oversight board pushes school-funding recommendation from April to July

    0:31:40 — open the recording at 31 minutes 40 secondsTim Berry (financial consultant (Crowe)) um i'm not sure other units of government will be able to replace things sure if they were to adopt

  115. Highlight drawn from this moment: Oversight board pushes school-funding recommendation from April to July

    0:31:48 — open the recording at 31 minutes 48 secondsHeather LaBella (oversight board member) yeah that would make sense yeah uh tim as you as you know we notified the commissioners and the council this week that you know we had an original target of mid-april for our recommendation we pushed that to july can you kind of from your perspective give the opinion that there hasn't been a whole lot of pushback i don't think uh to push in that timeline seeing a few things on social media saying it was strategic to coordinate with the election uh you know the obviously the oversight board doesn't have pro's recommendation yet because you're still working through the

  116. 0:32:25 — open the recording at 32 minutes 25 secondsTim Berry (financial consultant (Crowe)) numbers so can you kind of explain the process and the timeline here we are still working through those numbers we are also still working through what any proposal might look like legally um we We have an initial call next week with the oversight board's legal counsel to discuss just that.

  117. 0:32:52 — open the recording at 32 minutes 52 secondsTim Berry (financial consultant (Crowe)) And then we are still working with the commissioners and Baker Tilly to get final updates there.

  118. 0:33:04 — open the recording at 33 minutes 4 secondsTim Berry (financial consultant (Crowe)) And I know that they're looking at some of the changes that took place in legislative session uh and what impacts that might be i think that is pretty close um and then we'll review

  119. 0:33:15 — open the recording at 33 minutes 15 secondsTim Berry (financial consultant (Crowe)) those final numbers and then be able to make some recommendations and some options and really look and put some options on the table as to what um commissioners the council the oversight committee

  120. 0:33:31 — open the recording at 33 minutes 31 secondsTim Berry (financial consultant (Crowe)) might be able to look at from a responsible standpoint.

  121. 0:33:35 — open the recording at 33 minutes 35 secondsHeather LaBella (oversight board member) That's great. And I noted that you really couldn't kind of set off and get running on this engagement

  122. 0:33:43 — open the recording at 33 minutes 43 secondsHeather LaBella (oversight board member) until the AFR was available, which was due March 1st. And thank you to the auditor's team for getting it uploaded a couple of days earlier. That's true, right?

  123. 0:33:54 — open the recording at 33 minutes 54 secondsTim Berry (financial consultant (Crowe)) That's correct. Yeah. I mean, you know, we certainly knew we had a strong feeling of where the county's fiscal condition was based upon the 2024 numbers and based upon the fact that you

  124. 0:34:07 — open the recording at 34 minutes 7 secondsTim Berry (financial consultant (Crowe)) certainly have seen some consistent strong cash reserves in vigo county um but we certainly wanted to look at that and we do want to look and have communications with the county baker tilly with

  125. 0:34:24 — open the recording at 34 minutes 24 secondsTim Berry (financial consultant (Crowe)) regards to that imbalance that we did begin seeing in um in 2025 in the general fund of about 1.6

  126. 0:34:33 — open the recording at 34 minutes 33 secondsHeather LaBella (oversight board member) million dollars yeah and we're also looking at the the school corporation's overall capital plan

  127. 0:34:42 — open the recording at 34 minutes 42 secondsHeather LaBella (oversight board member) as well so that not that you know our scopes may be limited to group one but i think it helps everyone to understand what the entire plan is here that's included in your engagement yes

  128. 0:35:08 — open the recording at 35 minutes 8 secondsTim Berry (financial consultant (Crowe)) good Gary awesome thank you Tim you bet thank you as always if anyone has questions please

  129. 0:35:16 — open the recording at 35 minutes 16 secondsTim Berry (financial consultant (Crowe)) don't hesitate to reach out as we continue the analysis and the recommendations

  130. 0:35:27 — open the recording at 35 minutes 27 secondsSpeaker 133 any comments from the public

  131. 0:35:37 — open the recording at 35 minutes 37 secondsSpeaker 8 (chair) i'll take that uh friendly reminder get out and vote i voted uh in the chambers right before the

  132. 0:35:43 — open the recording at 35 minutes 43 secondsHeather LaBella (oversight board member) the meeting there's no wine um next meeting is next thursday in the morning 10 30 a.m uh i assume we'll be in the here in the conference room again next week so any other comments from the board

  133. Highlight drawn from this moment: Oversight board pushes school-funding recommendation from April to July

    0:36:01 — open the recording at 36 minutes 1 secondSpeaker 8 (chair) thank you mark thank you heather thanks everybody

Marked moments above are where the archive's reviewed highlights were drawn from. Everything else on this page is unreviewed.