A new reporting requirement on local governments gives taxpayers unprecedented access to debt information, but the data is also likely to raise many questions.
The Indiana Department of Local Government Finance has compiled a ranking of total debt and per-capita debt for every taxing unit in the state. While Indianapolis International Airport and other Marion County entities have the largest totals, the highest burdens per person are found in rural communities, as well as a couple of wealthy Indianapolis suburbs.
The Indiana Department of Local Government Finance has compiled a ranking of total debt and per-capita debt for every taxing unit in the state. While Indianapolis International Airport and other Marion County entities have the largest totals, the highest burdens per person are found in rural communities, as well as a couple of wealthy Indianapolis suburbs.
Carmel Mayor James Brainard, whose city shows up in the top 10 both for total debt and per-capita debt, criticized the rankings as misleading in a number of ways.
“It’s easy to take one piece of information and draw an incorrect conclusion,” he said.
Eric Bussis, director of data analysis at the Local Government Finance Department, hopes the overview will prompt taxpayers to dig into the detailed, custom reports available at the state’s “Gateway” website, gateway.ifionline.org.
“Local government debt is something that hasn’t received as much transparency as other aspects of a unit’s finances,” Bussis said.
Legislation this year requires all taxing units to report the obligations they hold directly and indirectly. That’s supposed to include debt issued by redevelopment commissions and school building corporations, which are set up for debt issuance. The reporting includes any bond or lease, whether backed by property tax, or some other source of revenue.
The department compiled its report in September from data that was accurate as of Dec. 31.
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The DLGF Local Government Debt Report is available here:
