Available Street Money

You may not know it, but you may have street and road money available.

The State requires very conservative budget procedures for MVH Funds. As a result, there is almost always money left at the end of each year, unappropriated and unencumbered. Unless you take actions, the extra money stays idle for at least a year before it is finally re-appropriated.

Spring is a good time of year to check the available balance in your MVH Fund, while there is still time to get a mid-year appropriation for projects this season.

How can you tell if you have available, idle MVH money? Ask your fiscal officer to fill out a Certificate of Additional Appropriation. The form is available from the Department of Local Government Finance. The form will show how to calculate any surplus balance you might have.

While you are at it, check your other funds as well. The MVH Fund is not the only one that may have idle balances.

06/01/05

03/14/06

03/21/08

If you have questions or would like further information, please contact us at: Coonrod@CoonrodCPA.com

This article is intended to provide information of general interest to local government officials in Indiana. The information is not guaranteed to be applicable or appropriate in particular circumstances. Local officials should consult competent professionals before acting on any information contained in this article. We are not attorneys. Advice of a legal nature should be sought only from qualified attorneys.

To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.