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Baker Tilly recently presented a virtual roundtable series with Accelerate Indiana Municipalities (Aim) about CARES Act funding for local governments in Indiana and the importance of long-term financial and capital planning in the face of COVID-19. View the recording below.

CARES Act funding, financial plans and what to expect in 2021 and beyond

The session focused on the financial impacts local governments in Indiana are facing as a result of the COVID-19 pandemic. Specifically, we discussed:

  • Coronavirus Aid, Relief, and Economic Security (CARES) Act funding
    - Updates on requesting and receiving funds
    - Accounting for CARES Act dollars
  • Options for utilizing CARES Act money
    - Today’s wants and needs vs. tomorrow’s cash flow and reserves
  • Financial obstacles on the horizon
    - 2022 local income tax (LIT) impacts
    - Potential impact to other revenue sources
    - COVID-19 economic impacts in 2021 and beyond
    - Tax base/circuit breaker/economic development considerations
  • How the various impacts fit together into your community’s long-term financial and capital plan
    - Financial plans are evergreen, especially in today’s environment
    - Accurate financial planning and future scenario considerations have never been more important

Presenters and subject matter specialists

Baker Tilly Municipal Advisors, LLC is a registered municipal advisor and controlled subsidiary of Baker Tilly Advisory Group, LP. Baker Tilly Advisory Group, LP and Baker Tilly US, LLP, trading as Baker Tilly, operate under an alternative practice structure and are members of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. Baker Tilly US, LLP is a licensed CPA firm and provides assurance services to its clients. Baker Tilly Advisory Group, LP and its subsidiary entities provide tax and consulting services to their clients and are not licensed CPA firms. ©2024 Baker Tilly Municipal Advisors, LLC

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