§ 12-20-25-32 — Report; financial plan recommendation

Indiana § 12-20-25-32

• Jurisdiction: Indiana
• Art. 20: TOWNSHIP ASSISTANCE
• Ch. 25: Township Assistance in Distressed Townships

Text

(a) As soon as the management committee
has completed the financial, compliance, economy, and efficiency
audits required by section 15 of this chapter, the management
committee shall make a report to the control board. The report must
include the following:
(1) The findings of the financial, compliance, economy, and
efficiency audits.
(2) An itemization of each creditor's claims against the distressed
township that were found to be valid and reasonable.
(3) An itemization of each claim that was found to be invalid.
(4) An itemization of each claim that was found to be
unreasonable and on which no settlement was negotiated.
(5) A proposed operating budget for the township trustee's office.
(6) An estimate of future operating and debt service costs for
township assistance.
(7) The amount of outstanding township assistance bonds issued
and loans incurred by the county and advancements made by the
county.
(8) The maximum permissible township assistance levy of the
township under IC 6-1.1-18.5.
(b) The county fiscal body may recommend a financial plan to the
management committee that ensures that future revenue increases, if
necessary, come from sources other than ad valorem property taxes
imposed on property within the distressed township and will
accomplish the purposes set forth in section 33(a)(2) of this chapter.
The financial plan may include any of the options set forth in section
34 of this chapter. The management committee shall include any
submitted plan in the committee's report to the control board.
[Pre-1992 Revision Citation: 12-2-14-27.]

Legislative History

As added by P.L.2-1992, SEC.14. Amended by P.L.73-2005, SEC.133.