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Consultant outlines Indiana budget basics, revenue mix and planning steps at Danville work study
Summary
At a Danville work study, Susan Cowell of Taggart Tilly reviewed Indiana budget law, DLGF oversight, revenue sources including property tax and local income tax, circuit-breaker caps and recommended multiyear financial planning; a motion to adjourn followed with no recorded vote in the transcript.
Susan Cowell, a budget consultant with Taggart Tilly, told Danville officials at a work-study session that Indiana law requires every taxing unit that receives property tax to prepare an annual budget for local review and for the Department of Local Government Finance (DLGF) to review and certify. "Our constitution, Indiana state law, requires that every unit that receives property tax in the state prepare a budget for first local review and then for review by the Department of Local Government Finance," Cowell said.
Cowell walked the group through the budget cycle and key inputs: counties generally certify net assessed values (NAV) around Aug. 1, local units develop budgets from July through October, the DLGF issues preliminary…
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