Carmel's Year-End Balance Exceeded $85 Million For 2021

Press release from the City of Carmel:

February 8, 2022

Carmel, IN – For the fiscal year that ended December 31, 2021, the City of Carmel had more than $85 million in its fund balances, $69.3 million of which were unencumbered funds, or funds that are unspent and not obligated or committed. These figures, released today by Carmel City Controller Ann Bingman, are an indication of Carmel's fiscal strength.

“The year 2021 was a challenging one as we navigated the many restrictions and complications of the COVID-19 pandemic. But these numbers, announced today by our City Controller, show that we successfully managed the public’s money as we always have done,” said Carmel Mayor Jim Brainard. “We work very hard to manage the City’s finances prudently. We approach the budget process much like the private sector in that we perform budget forecasting 20 years out to ensure that we can accomplish our goals and keep our tax rate among the lowest in the state.”

This press release was produced by the City of Carmel. The views expressed here are the author’s own.