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Vigo County CIB approves 2026 budget and reviews 2024 audit; board asks for midyear update
Summary
The Capital Improvement Board adopted its 2026 operating budget and heard an external audit for 2024 with no immediate concerns; members requested a six-month budget update in 2026 and flagged part‑time wages and insurance costs to watch.
The Vigo County Capital Improvement Board approved its 2026 proposed budget on Tuesday and reviewed an external audit for 2024 that raised no immediate concerns, board members said. The board voted to approve the budget so staff could forward it to the county council.
Kyle Carlson, municipal adviser with Baker Tilly, presented cash-flow figures showing a June 2025 cash balance near $5.2 million and available cash just over $4.7 million; he noted the city’s $250,000 contribution had been posted as expected and that a bond payment for the convention center had already been made in July. Carlson said the 2026 budget holds revenues constant compared with 2025 and models inflationary disbursement increases of roughly 3%–10% across various line items, including a 3% increase for insurance premiums.
Martel Wilson and Dave Anderson reviewed departmental staffing and the 2026 operating draft, noting several employees perform dual roles (for example: museum coordination and marketing tasks) to limit operating costs. Questions from board members focused on specific budget-line changes: one example cited on the record was an increase in employee-benefit costs in event services from $42,802 to $62,980, which Wilson said reflected adding two event services positions into the benefit program in 2026.
Board members requested a six-month budget update for June 2026 to review revenue and expense pacing, with particular attention to part-time wages and insurance. The board approved the 2026 budget by roll call; the minutes record members voting in favor.
On audit matters, Martel said Sackriter and Company conducted the 2024 audit locally; the audit found no immediate concerns. The audit team identified an over‑estimate of a sales‑tax payment for January 2024; the state returned the overpayment and Martel said a credit currently sits on the sales‑tax account to be applied to future returns. The board also reviewed the board’s reporting relationship to county accounting and the State Board of Accounts; board members were advised to confirm internal-control policies and annual training certificates for staff who handle funds.
