Consultant scrutinizes Bloomington’s annexation fiscal plan: $866K bigger blow to Monroe County local income tax revenue

A two-person team from the Baker Tilly accounting firm, hired by Monroe County’s board of commissioners to review Bloomington’s annexation fiscal plan, presented its report to the county council on Tuesday night.

Baker Tilly found that in Year 2, the impact on local income tax (LIT) revenue to Monroe County government would be negative $1.4 million. That’s a $866,000 bigger impact than Reedy Financial Group reported in Bloomington’s annexation fiscal plan. Reedy analyzed the impact as negative $534,694.

Paige Sansone and Deen Rogers, the accountants from Baker Tilly who did the work for the county, noted a handful of other issues with Bloomington’s fiscal plan, none of which had a significant financial impact. Continue reading “Consultant scrutinizes Bloomington’s annexation fiscal plan: $866K bigger blow to Monroe County local income tax revenue”