On July 12, the State Board of Accounts notified the City of Carmel that after further review, it does not have an issue with the 2015 $5 million bond payment reimbursement to the Carmel Redevelopment Commission.
This means SBOA is no longer asking for the $5 million to be shown as a general fund liability and deducted from the fund balance.
This comes after the SBOA had questioned how the city paid for a $5 million budget shortfall in December 2015.
Editor’s note: The City of Carmel notified Current on the evening on July 12 that the SBOA is no longer questioning the 2015 payment, outlined in a previous story at: youarecurrent.com/state-board-of-accounts-questions-citys-2015-end-of-year-payment