BEDFORD – Lawrence County officials listened to a presentation on creating a comprehensive financial plan, which could include a proposed capital improvement plan for future department and county needs.
Baker Tilly Municipal Advisor Heidi Amspaugh presented the plan.
Heidi Amspaugh is a principal with Baker Tilly Municipal Advisors, LLC. Heidi’s practice includes working with municipalities and counties to finance capital infrastructure projects by issuing municipal bonds payable from property taxes, local income taxes, tax increment financing (TIF), and other revenue sources. She specializes in downtown and mixed-use redevelopment projects. Heidi also assists with enhancing local communities by developing incentive packages utilizing TIF, tax abatement, and other incentives. She helps communities through long-term financial, capital planning, and TIF management and reporting requirements.
“This would give you a clean projection for the next five years of revenue and expenses,” she added. “You would get ahead of the decisions you must make as commissioners and council members. You will know what the big picture is going to be.”
The project’s cost would not exceed $50,000. Without including a proposed capital improvement plan, it would be around $30,000.
“This is a starting block for budgeting and looking forward,” Amspaugh added. “You will see the long-range needs of each department…The major things that will need to be addressed in advance.”
The county requested Amspaugh develop a proposal, which county officials would review and vote on. If the county approves the plan, it will be in place before the 2025 budget hearings.
