Question 1

Where does municipal finance data come from?

Accepted Answer

Municipal finance data comes from the Indiana State Board of Accounts (SBOA) Gateway system. All Indiana cities and towns are required to file annual financial reports (AFR) through the Gateway portal. These reports detail revenue, expenditures, fund balances, and debt. Data is available as pipe-delimited bulk downloads from 2012 to present.

Question 2

What are the main revenue sources for a municipality?

Accepted Answer

Most Indiana municipalities rely on property taxes, local income tax (LIT) distributions, charges for services, intergovernmental transfers, and permits and fees. Indiana allows counties to levy a local income tax that is distributed to municipalities. There is no local option sales tax.

Question 3

What is a General Fund and why does it matter?

Accepted Answer

The General Fund is the municipality's primary operating fund. It covers core services like police, fire, public works, and administration. A healthy General Fund balance (typically 25-50% of annual expenditures) indicates the town can handle unexpected expenses without raising taxes or cutting services.

Question 4

How current is this financial data?

Accepted Answer

SBOA Gateway data typically lags 6-12 months behind the current fiscal year. The most recent year with complete data is usually one to two fiscal years prior. Data is refreshed as filings are processed.

Ligonier, IN

Finances — FY 2024

Finances — FY 2024