Treasurer Daniel Elliott announced that participants in the Indiana Bond Bank’s Fuel Budgeting Program are expected to receive substantial payouts for the month of March, driven by recent increases in gasoline and diesel prices.
The Fuel Budgeting Program is designed to help Indiana local government entities manage fuel price volatility by establishing a financial hedge on anticipated fuel usage. As market prices rise above the established cap, participating entities receive monthly settlements to help offset increased fuel costs.
The program allows eligible entities – including cities, towns, counties, school corporations, townships, fire protection territories, and other qualified government units – to customize hedged fuel amounts based on anticipated monthly usage. Participants continue purchasing fuel through their existing vendors while benefiting from the program’s budget protections.
“Programs like the Indiana Bond Bank’s Fuel Budgeting Program are about giving local governments the tools they need to plan ahead and make smart financial decisions," said Treasurer Elliott. "By helping communities manage unpredictable fuel costs, we’re supporting more stable budgets and allowing local leaders to focus on delivering essential services.”
Payouts for March reflect recent upward trends in fuel markets, reinforcing the value of proactive budget risk protection. Participants are receiving $0.87 per gallon of gasoline hedged and $1.52 per gallon of diesel hedged. In total, $71,165.90 will be paid out to participating local units of government.
Local governments interested in learning more about the Fuel Budgeting Program are encouraged to visit the Indiana Bond Bank website at inbondbank.com or contact the IBB directly.
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