Category Archives: Industry News

Umbaugh announces partnership

January 9, 2019

We have great news. Umbaugh is pleased to announce our intention to join with Springsted Inc. in (Springsted) and Baker Tilly Virchow Krause, LLP (Baker Tilly) to become one of the strongest municipal advisory and public finance practices in the business.

As you know, Umbaugh has been recognized as one of the fastest growing CPA firms in the nation.  We are always looking for ways to improve our services, provide greater value to you and deepen our relationship. This strategic combination with Springsted and Baker Tilly brings together what we believe to be a unique set of resources to become a premiere municipal advisory practice. We remain dedicated to the public sector, serving state and local governmental units, public schools, utilities and non-profit organizations and most of all, continue our dedication to you, our loyal clients.

Springsted is based in Minneapolis and has a long and well-respected record in public finance and projects for public and non-profit organizations. Springsted’s public finance services include municipal finance and post-issuance compliance, operational finance, investment, housing and economic development services. Human capital services include executive recruitment, management consulting, compensation consulting and community surveys.

Baker Tilly is the 15th largest CPA firm in the United States.  They have a strong public sector practice with a team of 220 professionals serving nearly 1,000 government clients. Additionally, Baker Tilly’s industry concentration complements its public sector specialization, particularly in housing, economic development, higher education and healthcare. Baker Tilly provides audit and advisory services to the public sector, including financial forecasting, TIF projections, consolidations and shared services, forensics and expert witness services, enterprise resource planning, process and efficiency analysis, and internal controls reviews and recommendations.

What does this mean for you?

Things will be the same – just better! Your Umbaugh client service team remains the same and you can count on us to continue providing the same level of service you expect. We can now leverage broader resources and expanded capabilities to serve you better.  Moreover, there are no anticipated increases in fees as a result of this combination.  Springsted and Baker Tilly both have very talented teams that will now join with our Umbaugh team. Together we are excited to help you seize new opportunities and solve your most pressing problems.

What about location and contact information?

Our office locations and phone numbers in Indianapolis, Mishawaka, Lansing and Columbus remain the same. Our email addresses will eventually change; however, when this occurs any messages sent to our former email addresses will automatically forward.

When is this happening?

We expect the combination to be effective in the first quarter of this year. After a transition period, the combined firm will be known as Baker Tilly. As we transition, you will see our new Baker Tilly name and logo in communications with you.  will be our new online home.

What’s next?

We know this is big news and merits more information. We are attempting to reach out to as many of our clients and colleagues as time allows.  As always, please contact us with any questions or concerns.

We value the trust you place in us as we transition to become Baker Tilly.  We are very proud of our 68-year history and excited to build upon it going forward.  Please join us in celebration!

OCRA Announcement; Indiana Communities Collaborating

Rural Indiana communities recognized for collaboration

STATEHOUSE (Jan. 9, 2019) – Today, Lt. Governor Suzanne Crouch and the Indiana Office of Community and Rural Affairs recognized more than 70 rural Indiana communities who collaboratively shaped and executed their vision for their communities in 2018.

“By working together, these communities provided unique and impressive changes to their local parks, walkways, main streets and economic developments,” Crouch said. “In partnership with the Indiana Office of Community and Rural Affairs, local leaders were able to utilize state funding to incorporate the plans to further their community development.”

Crouch said more than $41 million was provided by local communities and was combined with $22 million from OCRA. These funds were used to complete quality of place improvements like water system enhancements, new public facilities, revitalizing main streets, restoring historic buildings and enhancing downtowns.

“Today is a great day to celebrate all the successes, collaborative efforts and planning our Hoosier communities have achieved this past year,” said Jodi Golden, OCRA executive director. “Our office was fortunate to help make our rural cities, towns and counties better places to live, work and play. I’m excited to see how the communities will continue to grow this funding.”

The 2018 awards ceremony marks OCRA’s 13th anniversary and state legislators, mayors, local elected officials, grant administrators, community development organizations, community partners and businesses were present at the celebration.

Tourism & Indiana Economy; Press Release from Lt. Governor Suzanne Crouch

Dec. 28, 2018

Tourism in 2017 continues to grow

INDIANAPOLIS (Dec. 28, 2018) – A new study released by Lt. Governor Suzanne Crouch with the Indiana Office of Tourism Development shows a growing impact tourism has on Indiana’s economy.

“Now in its seventh year of continued growth, the tourism industry has set a record $12.7 billion in visitor spending last year,” Crouch said. “This trend, combined with the new leadership Misty Weisensteiner will bring, will take tourism to the Next Level in the years to come.”

Here are some of the highlights of the report:

  • The number of visitors to Indiana destinations increased to 80 million;
  • Total visitor spending reached $12.7B;
  • Overnight visits rose to 31.2 million;
  • Spending per visitor rose to $158;
  • Visitor spending added $9.8B to the state’s gross domestic product;
  • Out of each dollar spent, $0.72 stays in Indiana;
  • Tourism generated $1.4B in state and local taxes;
  • Indiana tourism supported 199,830 full-time jobs; and
  • Hoosier households saved an average of $561.

The study was commissioned by the Indiana Office of Tourism Development and conducted by Rockport Analytics, an independent market research and consulting company that specializes in economic impact and feasibility studies for the travel, tourism and hospitality industry. The methodology employed by this study is in accordance with industry best practices and aligns economic impact data at the state and local level with rigorous methodological standards that are recognized as the highest in the industry.

The study used data on Indiana visitor spending derived from multiple sources including Longwoods International, Reach Market Planning and the U.S. Commerce Department’s National Travel & Tourism Office. It was then reconciled with Bureau of Labor Statistics reported employment data, Indiana Department of Revenue reported tax receipts and secondary sources such as Smith Travel Research.

The infographic illustrates some key data points in the economic report. It can be found on the Indiana Office of Tourism Development’s website,

Due to an error discovered during our 2017 research, we have included a restatement of our 2016 numbers with our 2017 report. For more information on the revision, go to


The Lieutenant Governor constitutionally serves as the President of the Indiana Senate, serves as the Secretary of Agriculture and Rural Development, chairs the Indiana Counter Terrorism and Security Council and oversees five state agencies.

Click here for a high resolution photo of Lt. Gov. Crouch. For email updates from her office and these agencies, click here.

2018 Stellar Designees Announced

Lt. Governor Crouch announces 2018 Stellar designees
STATEHOUSE (Dec. 11, 2018) – Today, Lt. Governor Suzanne Crouch announced the two regions who are designated a 2018 Stellar Community, the Health and Heritage region and the New Allen Alliance.
“Stellar applicants were given a unique task this year, and that was to partner with their neighboring communities to come up with a plan that can benefit a larger range of Hoosiers,” Crouch said. “Through this collaboration, brilliant ideas came forth and I cannot wait to see their plans come to life.”
Greenfield, Fortville and Hancock County make up the Health and Heritage region and are going to put a plan into motion that improves health, heritage and heart in their communities. A focus on substance abuse treatment, expanding trails and revitalizing their downtowns are just a few of the facets of their plan to help create the front porch of Eastern Indiana.
Grabill, Leo-Cedarville, Monroeville, New Haven, Woodburn and Allen County are the region named the New Allen Alliance. The plan they will implement through Stellar funding will focus on increasing economic growth while also developing the quality of place in their area.
Crouch said that each designated region will receive $4.5 million from the Indiana Office of Community and Rural affairs, and will receive additional set amounts from the Indiana Department of Transportation, the Indiana State Department of Health and the Indiana Housing and Community Development Authority.
“This first year under the regional design was highly competitive. However, each region benefits from this process regardless of the designation through the completion of the regional development plan,” said Jodi Golden, Executive Director of OCRA. “These plans are the representation of partnerships and collaborations strengthened through core values, shared vision and proactive planning.”
Along with the regional aspect being new to the Stellar program, the finalists met with Ball State University’s Indiana Communities Institute to review data that aligned their projects and furthered their plans. Golden said that Purdue University’s Center for Regional Development will assist the two designees with long-term sustainability efforts and implementing their projects.
The Stellar program designation is awarded annually and provides resources for transformative quality of place community improvements by using previous planning efforts, leveraging existing assets, fostering regional investments and stimulating continued growth. Visit for more information, including details about the 2019 Stellar Communities Program, which will be released on Jan. 7, 2019.