Learn about Indiana State Revolving Fund Bonds, including The Team and Projects.

Created in
Bond Ratings
Bonds Outstanding
$2.11 billion

About Indiana State Revolving Fund Bonds

The State Revolving Fund (SRF) Loan Programs provide low-interest loans to Indiana communities for projects that improve wastewater and drinking water infrastructure. The Program's mission is to provide eligible entities with the lowest interest rates possible on the financing of such projects while protecting public health and the environment. SRF also funds non-point source projects that are tied to a wastewater loan.

Who are the loan participants?

  • Cities, towns counties, regional sewer/water districts, conservancy districts and water authorities are eligible for wastewater, drinking water and nonpoint source SRF loans.
  • Private and not-for-profit facilities are eligible only for drinking water SRF loans.

Sources of funds for the program?

  • The State applies to the U.S. Environmental Protection Agency annually for capitalization grants to fund its SRF Programs. To increase available funds, the State leverages its U.S. EPA capitalization grants in the municipal bond market. These funds are combined with the U.S. EPA required State match and are then made available to Indiana communities in the form of low-interest-rate loans. For more information on the U.S. EPA's involvement in the SRF Loan Programs, visit the U.S. EPA's Clean Water SRF or Drinking Water SRF Web sites.

Types of projects?

Any project where there is an existing pollution abatement need is eligible for SRF funding.

  • Wastewater projects include:
    • Treatment plant improvements and upgrades;
    • Sewer line extensions to existing unsewered properties;
    • Combined sewer overflow corrections; and
    • Infiltration/inflow projects.
  • Drinking Water projects include:
    • Treatment plant improvements and upgrades;
    • Water line extensions to existing unserved properties; and
    • Water storage facilities.
  • Nonpoint source projects include:
    • Wetland protection and restoration measures;
    • On-site sewage disposal systems;
    • Best Management Practices for agriculture and stormwater runoff;
    • Riparian Buffers and Conservation Easements; and
    • Wellhead and Source Water Protection measures;
    • Eligible Brownfield Projects.

The Team

Dan Huge

Public Finance Director of the State of Indiana

(317) 233-2916


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Jim McGoff

COO & Director of Environmental Programs

(317) 233-4337


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Mark Pascarella

Director of Debt Management

(317) 234-2228


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View Team


Reports and PPLs

Since Indiana's State Revolving Fund Programs are partially funded by capitalization grants through the U.S. Environmental Protection Agency, the Programs report annually to the U.S. EPA to ensure that funds are being spent in accordance with the goals of the nationwide State Revolving Fund.

The State's SRF Programs are run based on a State Fiscal Year (SFY), which runs from July 1 through June 30. However, the U.S. EPA's reporting is done based on Federal Fiscal year (FFY), which runs from October 1 through September 30.

Due to these reporting requirements the SRF provides several reports to the U.S. EPA on an annual basis.

The Intended Use Plan is submitted each July 1 along with a Capitalization Grant application for the upcoming SFY. This document includes the Project Priority List, which is the list of expected loan closings for the upcoming year SFY. The PPL is also updated each quarter.

An Annual Report is submitted each October for the past FFY.

To view these reports please click here.

State Revolving Fund Clean Water Project Priority List 2024



State Revolving Fund Drinking Water Project Priority List 2024



View Projects