Architectural ceiling in building with spirals

Indiana Redevelopment Commissions (RDC) must meet many reporting deadlines throughout the year. The Department of Local Government Finance (DLGF) Tax Increment Finance (TIF) Management Report is due April 15 and involves reporting on previous year’s activities such as how much money you received and spent from your TIF districts, who worked for your RDC and how much they earned, and what areas of your city, town or county are designated as TIF zones. The April 15, 2024, report will include information about the calendar year 2023.

New requirement for 2024:

A new requirement introduced with the 2023 state legislative session will go into effect for the first time this year. Not only will the report need to be submitted to Gateway, but it also needs to be presented to the applicable city, town or county council prior to April 15.

All city, town and county redevelopment commissions in Indiana must complete this reporting requirement.

A detailed report on your Redevelopment Commission’s previous year’s activities.

The report is due on or before April 15.

The report must be filed through the DLGF’s Gateway website and provided to the executive body and fiscal body of the unit. New for this year it is a requirement to provide the report and present it to the applicable city, town or county council.

The annual report must include specific information about prior year activities as prescribed by statute:

  • The establishment and expiration dates of each TIF allocation area, including any amendment dates, and applicable Indiana Code section under which the TIF was established
  • Names and officers of the RDC
  • RDC employees and salary/compensation amounts
  • Year-end total TIF revenues and expenditures
  • All RDC expenditure amounts and purpose, categorized by State Board of Accounts disbursement categories and subcategories
  • Detail on any grants or loans of TIF
  • Fund balances of any TIF-related funds including bond funds
  • Principal and interest paid, principal and interest outstanding and maturity date for all outstanding TIF-supported debt obligations
  • A list of all parcels included in each TIF allocation area, including gross, net, base and incremental assessed value detail for each parcel
  • Upload of all legal establishment/amendment documents for each TIF allocation area

New information to include for 2024:

  • A requirement for any Residential TIF Allocation Area to provide the number of houses completed and the average sales price of the houses sold in the allocation area; and,
  • Information regarding TIF revenue distributed to other units

If have questions or need assistance with TIF timing and reporting requests, reach out to your Baker Tilly municipal advisor.

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

Andrew O. Mouser
Heidi L. Amspaugh
Students comparing notes after a college class
Next up

Internal audit: higher education’s evolutionary risk management ally