1. (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. (1) The findings of the financial, compliance, economy, and efficiency audits.
   2. (2) An itemization of each creditor's claims against the distressed township that were found to be valid and reasonable.
   3. (3) An itemization of each claim that was found to be invalid.
   4. (4) An itemization of each claim that was found to be unreasonable and on which no settlement was negotiated.
   5. (5) A proposed operating budget for the township trustee's office.
   6. (6) An estimate of future operating and debt service costs for township assistance.
   7. (7) The amount of outstanding township assistance bonds issued and loans incurred by the county and advancements made by the county.
   8. (8) The maximum permissible township assistance levy of the township under IC 6-1.1-18.5 .

2. (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.