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Baker Tilly: Vigo County CIB cash balance just over $5 million; transfers to Oakview Group reduced in projections
Summary
Baker Tilly summarized cash-flow updates showing a September cash balance just above $5 million, small year-to-date food-and-beverage growth and downward adjustments to future operating transfers to Oakview Group in the 2026–2028 projections.
Kyle Carlson of accounting firm Baker Tilly presented a cash-flow update to the Vigo County Capital Improvement Board on Oct. 22, reporting a September cash balance of just over $5 million and an October food-and-beverage distribution of $286,000 compared with $301,000 in October 2024.
“Kyle Carlson with Baker Tilly” summarized the firm’s review: the October distribution figure reflects activity from two months prior, and year-to-date distributions show about 4% growth compared with the first 10 months of 2024. He told the board their cash balance will decline when upcoming bond payments and planned expenditures occur, but the September balance is a strong position heading into those payments.
Carlson said Baker Tilly adjusted future operating transfers to Oakview Group downward. “We are looking at an estimated over $300,000 less in the red for operating account transfers to Oakview Group in 2025 than we had estimated at the beginning of the year,” he said, and the firm reduced projected transfers for calendar years 2026 through 2028 based on new information from Oakview Group.
Board members asked procedural questions about timing for distributions and how the October numbers represent prior-month activity; Carlson explained the collections are received with a lag and the October figure reflects August activity. The board was also told earlier in the meeting that the Vigo County Council had passed and adopted the CIB budget (details of that council action were reported to the board but not read into the meeting record).
No formal vote on the cash-flow report occurred at the CIB meeting; the presentation was accepted for the record and staff will continue to monitor cash projections and bond-related outflows.
