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Madison County holds public hearing to recertify values after software error affected two TIF districts
Summary
Deputy Auditor Nick Young told commissioners a financial-software update produced incorrect calculations for TIF areas in Pendleton and Ingles; the vendor corrected the error and the county opened a public hearing to recertify assessed values so corrected figures can be sent to the state DLGF.
Madison County commissioners opened an advertised public hearing after the county auditor’s office discovered a software vendor error that produced incorrect assessed-value calculations for two tax increment financing (TIF) areas, Nick Young, deputy auditor, said.
Young told the board the vendor’s update affected calculations for the Pendleton and Ingles TIF districts. The vendor has corrected the programming problem, Young said, and the county must recertify the assessed figures so corrected amounts can be submitted to the Indiana Department of Local Government Finance (DLGF). "Soon as we recognized that, we contacted the financial software and the software vendor has corrected the error," Young said.
During the hearing a member of the public asked whether the TIF areas would permanently lose funding; Young said the recertification and submission to DLGF will restore the proper financing and that the county is proceeding to ensure the two areas receive the funding they should have.
The public hearing was opened for comment and then closed; staff said they will transmit the corrected certified figures to DLGF once the required steps are complete.
