Floyd Fire District still pursuing cumulative fund

Thursday, March 21, 2024

Officials in Floyd Township are continuing to pursue the possibility of establishing a cumulative fund for fire equipment.

Appearing for the second time before a county board, leaders from the Floyd Township Fire Protection District told the Putnam County Council on Tuesday of their desire to establish a cumulative fire fund in the community.

“We’ve gone out and looked at the cost of buying new fire equipment and it’s staggering, to say the least,” district board president Mike Hildebrand told the council. “We want a chance to make some plans for what we want to buy down the road. A cumulative fund seems to be the best way to go about it.”

Joined Tuesday by board member Greg Deer and district treasurer Tiffany Deer, Hildebrand explained that they had appeared before the Putnam County Commissioners in February, finding them to be generally in favor of the idea.

However, it would be the decision of the Putnam County Council, which controls the purse strings of the county. While a cumulative fund in a single township doesn’t appear to be a county-wide issue on the surface, a new tax for Floyd Township residents would affect the amount the county itself is able to collect in that community, thus affecting the overall availability of county funds.

On the other hand, no council members raised objections to looking into the idea further, with Phil Gick even praising Floyd fire officials for their foresight.

“They’re trying to do what we’ve been trying to do with several of our funds, instead of it being feast and famine and getting surprised,” Gick said. “I’m generally favorable. At the end of the day, they have to provide services to people in their area.”

Still, the process of levying a new tax is not a simple one, even beyond considerations such as the county budget.

Council attorney Trudy Selvia explained there is actually a new state law with which she needs to get familiar regarding such taxes.

“I don’t think it’s necessarily harmful to what you want to do,” Selvia assured the Floyd Township officials. “I think it might make the path a little clearer.”

No decision was made on Tuesday other than to look into the new laws more closely as well as possible effects on county tax revenues.

Keeping in mind their own desire to keep revenues steady and sustainable, the council members unanimously agreed to move $1 million from the county general fund to the rainy day fund.

Auditor Kristina Berish explained that the county currently has $2.7 million more than its current operating budget in the general fund. This includes funds that have been set aside for the construction of a courthouse annex as well as savings the county has seen through the establishment of some local income tax (LIT) streams over the years.

While Berish recommended not moving the entire $2.7 million because expenses do arise, council members liked the idea of moving some.

“Maybe we park it in the rainy day right now and we know we have it come budget time,” Gick said.

“I like that,” Council President Stephanie Campbell added.

Ultimately, Danny Wallace made the motion to move $1 million, with Gick adding a second. Campbell, Jay Alcorn, Larry Parker and Wayne Huffman joined them in a unanimous vote. Councilman Keith Berry was absent.

The move will not be official until the April 16 meeting, after Selvia has drafted a resolution on the matter.

Prior to that meeting, the council will meet at 1 p.m. on Thursday, April 4 to continue its discussion of county salaries. On Tuesday, Berish passed out an updated memo and spreadsheet regarding the latest findings as the council attempts to bring various county employee salaries into a competitive range.

Finally, the May meeting will take place one week later than normal, at 6:30 p.m. on Tuesday, May 28. The need for the change arose from the Indiana Auditors Association spring conference taking place during the week of the regular meeting date.

The council also approved a series of additional appropriations, including:

• $9,000 to pay Baker Tilley for financial assistance in administering American Rescue Plan Act (ARPA) funds.

• $12,834 from the public safety answering point LIT for new EMS radios consoles. The need for EMS consoles arose from upgrades at the 911 dispatch center.

• $50,855.72 to various accounts to distrubute money from health insurance reimbursements.

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  • Is any of this extra money being put to work for the county. You could be earning 5% on the money with a CD.1 million in a 5% CD would earn $50,000. Extra money. I thought that the county was already doing CD.

    Hope someone will look at this if not doing it already.

    -- Posted by Togafarm on Thu, Mar 21, 2024, at 8:16 PM
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