Indiana § 12-20-25-32 - Report; financial plan recommendation
Full text of Indiana Indiana Code § 12-20-25-32 — Report; financial plan recommendation, with citation guidance and answers to common questions.
§ 12-20-25-32. Report; financial plan recommendation
Sec. 32. (a) As soon as the management committee has completed the financial, compliance, economy, and efficiency audits required by section 15 of this chapter, the management committee shall make a report to the control board. The report must include the following:
(1) The findings of the financial, compliance, economy, and efficiency audits.
(2) An itemization of each creditor's claims against the distressed township that were found to be valid and reasonable.
(3) An itemization of each claim that was found to be invalid.
(4) An itemization of each claim that was found to be unreasonable and on which no settlement was negotiated.
(5) A proposed operating budget for the township trustee's office.
(6) An estimate of future operating and debt service costs for township assistance.
(7) The amount of outstanding township assistance bonds issued and loans incurred by the county and advancements made by the county.
(8) The maximum permissible township assistance levy of the township under IC 6-1.1-18.5.
(b) The county fiscal body may recommend a financial plan to the management committee that ensures that future revenue increases, if necessary, come from sources other than ad valorem property taxes imposed on property within the distressed township and will accomplish the purposes set forth in section 33(a)(2) of this chapter. The financial plan may include any of the options set forth in section 34 of this chapter. The management committee shall include any submitted plan in the committee's report to the control board.
[Pre-1992 Revision Citation: 12-2-14-27.]
As added by P.L.2-1992, SEC.14. Amended by P.L.73-2005, SEC.133.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 12-20-25-32
What does Indiana Code § 12-20-25-32 cover?
Section 12-20-25-32 ("Report; financial plan recommendation") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 12-20-25-32?
A common citation format is "Indiana Code § 12-20-25-32" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 12-20-25-32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.