MUNSTER | The Munster Town Council has created a fund for its share of Lake County income tax revenues required to be spent on public safety.
Munster officials anticipate receiving $822,420 from the town’s portion of the option income tax during fiscal year 2014.
State law requires establishment of a separate public safety tax fund, called a LOIT, to receive the money and account for distribution and expenditures.
“In addition, the statute delineates how the funds can be used,” Munster Clerk-Treasurer David Shafer said.
The money can be used only for public safety expenditures, including police and fire protection.