reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 14. Annual Conference of Local Fiscal Officers › 5-11-14-2. Training Institute for Clerk-Treasurers or City Clerks

Note: This version of section effective until 1-1-2024. See also following version of this section, effective 1-1-2024.
Sec. 2. The state board of accounts shall annually conduct a training institute for clerk-treasurers and may conduct a training institute for city clerks, either of the entire state or by districts. The provisions of IC 5-11-14, are applicable to any such training institute.
Formerly: Acts 1971, P.L.50, SEC.1. As amended by Acts 1977, P.L.55, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 14. Annual Conference of Local Fiscal Officers › 5-11-14-2-b. Training Institute for Clerk-Treasurers or City Clerks

Note: This version of section effective 1-1-2024. See also preceding version of this section, effective until 1-1-2024.
Sec. 2. (a) The state board of accounts shall annually conduct a training institute for clerk-treasurers and may conduct a training institute for city clerks, either of the entire state or by districts. The provisions of this chapter are applicable to any such training institute.
(b) The state board of accounts shall keep attendance of clerk-treasurers at each conference called by the state board of accounts and publish the attendance on the state board of accounts' website.
(c) Clerk-treasurers and city clerks must attend the annual training institute a minimum of once every two (2) years.
Formerly: Acts 1971, P.L.50, SEC.1. As amended by Acts 1977, P.L.55, SEC.2; P.L.58-2023, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 19. Transitional Provisions › 5-11-19-1. Transfers of Powers, Duties, Liabilities, Records, Property, and Employees; Rules

Sec. 1. (a) All powers, duties, liabilities, records, property, and employees of the field examiners retirement board (referred to as FERF in this chapter) are transferred to the board of trustees of the public employees' retirement fund (referred to as PERF in this chapter) (as the board existed before its abolishment on July 1, 2011) as the successor agency. The assets of FERF are transferred to PERF.
(b) Rules of the FERF board of trustees filed with the secretary of state before July 1, 1986, shall be treated after June 30, 1986, as though they had been adopted by the PERF board of trustees (as the board existed before its abolishment on July 1, 2011).
As added by P.L.35-1985, SEC.25. Amended by P.L.35-2012, SEC.89.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 19. Transitional Provisions › 5-11-19-2. Date of Transfer of Employees and Recognition of Prior Creditable Service; Benefits Under Repealed Section

Sec. 2. (a) After June 30, 1986, field examiners and other employees of the state board of accounts shall be included as members of PERF and shall be treated as though they were members of PERF during their employment with the state board of accounts. Creditable service that was properly allowed by the FERF board of trustees as of June 30, 1986, shall be recognized by the board of trustees of the Indiana public retirement system as creditable service.
(b) Notwithstanding subsection (a), the members of FERF who were members on April 1, 1967, are entitled to receive retirement, survivor, disability, and all other benefits as provided by IC 5-11-15-13 (repealed) before July 1, 1986.
As added by P.L.35-1985, SEC.25. Amended by P.L.1-2009, SEC.22; P.L.35-2012, SEC.90.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 19. Transitional Provisions › 5-11-19-3. Referendum as to Repealed Section; Effect

Sec. 3. The repeal of IC 5-11-15-10, concerning the referendum for inclusion of field examiners and other employees of the state board of accounts in the federal Social Security Act, does not affect the result of the referendum. After June 30, 1986, IC 5-10.1 applies to these field examiners and other employees.
As added by P.L.35-1985, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 20. Retirement Plan Reporting › 5-11-20-2. "Political Subdivision"

Sec. 2. As used in this chapter, "political subdivision" means a municipality or a local government unit, entity, or instrumentality to which IC 5-11-1-4 applies. The term does not include the state or an instrumentality of the state.
As added by P.L.47-2013, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 20. Retirement Plan Reporting › 5-11-20-3. Reporting Requirement

Sec. 3. (a) After December 31, 2013, a political subdivision having an employee retirement plan described in subsection (b) shall, not later than the date each year on which the political subdivision's financial reports are due under IC 5-11-1-4, make an annual report for each of the political subdivision's employee retirement plans described in subsection (b) to the state board of accounts of the information specified in section 4 of this chapter for the political subdivision's immediately preceding fiscal year, in the manner prescribed by the state examiner.
(b) The retirement plans to which this chapter applies are the following:
(1) Each of the retirement funds for utility employees authorized under IC 36-9.
(2) Each county police force pension trust and trust fund authorized under IC 36-8.
(3) Each retirement program adopted by a board of a local health department as authorized under IC 16-1-4-25 (before its repeal) or IC 16-20-1-3.
(4) Each retirement benefit program of a joint city-county health department under IC 16-1-7-16 (before its repeal).
(5) Each pension and retirement plan adopted by the board of trustees or governing body of a county hospital as authorized under IC 16-12.1-3-8 (before its repeal) or IC 16-22-3-11.
(6) Each pension or retirement plan and program for hospital personnel in certain city hospitals as authorized under IC 16-12.2-5 (before its repeal) or IC 16-23-1.
(7) Each retirement program of the health and hospital corporation of a county as authorized under IC 16-12-21-27 (before its repeal) or IC 16-22-8-34.
(8) Each pension plan provided by a city, town, or county housing authority as authorized under IC 36-7.
(9) Each pension and retirement program adopted by a public transportation corporation as authorized under IC 36-9.
(10) Each system of pensions and retirement benefits of a regional transportation authority as authorized or required by IC 36-9.
(11) Each employee pension plan adopted by the board of an airport authority under IC 8-22-3.
(12) Each system of pensions and retirement provided by a unit under IC 36-1-3.
(c) The department of local government finance may not approve the budget of a political subdivision or a supplemental appropriation for a political subdivision until the political subdivision files each annual report required by subsection (a).
As added by P.L.47-2013, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 20. Retirement Plan Reporting › 5-11-20-4. Report Elements

Sec. 4. A report required under section 3 of this chapter concerning a retirement plan must include the following information:
(1) The basic plan parameters, including the following:
(A) The type of plan.
(B) The plan administrator.
(C) The employer sponsoring the plan.
(2) If the plan is a defined benefit plan, the following:
(A) The plan's funding percentage ratio.
(B) The actuarial assumptions for the plan.
(C) The plan's investment returns for the preceding fiscal year.
(3) The total amount of contributions made by the plan sponsor during the preceding fiscal year.
(4) The number of plan participants, including the following:
(A) The number of active participants.
(B) The number of participants who are retired or separated from service.
(5) Any other information concerning the plan required by the state examiner.
As added by P.L.47-2013, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 20. Retirement Plan Reporting › 5-11-20-5. Annual Summary by the State Examiner

Sec. 5. The state examiner shall, not later than July 1 of each year, submit a report to the general assembly in an electronic format under IC 5-14-6 that summarizes the retirement plan information received for the immediately preceding fiscal year under section 3 of this chapter.
As added by P.L.47-2013, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-4. "Closed Depository"

Sec. 4. "Closed depository" includes:
(1) a financial institution the business and property of which the department of financial institutions has taken possession of under IC 28-1-3.1 for the purpose of liquidation;
(2) a financial institution the business and property of which the department of financial institutions has authorized the institution to liquidate under IC 28-1-9 and IC 28-7-1-27.1; and
(3) any national banking association, federal savings association, or federally chartered savings bank for the business and property of which a receiver has been appointed.
As added by P.L.19-1987, SEC.6. Amended by P.L.79-1998, SEC.7.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-5. "Credit Enhancement"

Sec. 5. "Credit enhancement" means any letter of credit, insurance, guarantee, or other credit enhancement issued by an issuer approved by the board for depositories, which is used to secure debt or leasehold financing for an industrial development obligation.
As added by P.L.19-1987, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-6. "Credit Enhancement Obligation"

Sec. 6. "Credit enhancement obligation" means the obligation of the developers of an economic development project under the documents related to the credit enhancement.
As added by P.L.19-1987, SEC.6. Amended by P.L.189-2018, SEC.30.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-7. "Deposit Accounts"

Sec. 7. Except as provided in IC 5-13-9-5.3, "deposit accounts" means any of the following:
(1) Any account subject to withdrawal by negotiable orders of withdrawal, unlimited as to amount or number, and without penalty, including NOW accounts.
(2) Passbook savings accounts.
(3) Certificates of deposit.
(4) Money market deposit accounts.
(5) Any interest bearing account that is authorized to be set up and offered by a financial institution in the course of its respective business.
As added by P.L.19-1987, SEC.6. Amended by P.L.44-1990, SEC.1; P.L.31-2012, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-9. "Electronic Funds Transfer"

Sec. 9. "Electronic funds transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account.
As added by P.L.19-1987, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-10. "Financial Institution"

Sec. 10. "Financial institution" means any of the following:
(1) A bank, trust company, or mutual savings bank that:
(A) was incorporated under the law of Indiana or any other state; and
(B) has its principal office or a branch in Indiana.
(2) A national banking association with its principal office or a branch in Indiana.
(3) A savings association operating as a deposit association incorporated under Indiana law.
(4) A federally chartered savings association with its principal office or a branch in Indiana.
(5) A federally chartered savings bank with its principal office or a branch in Indiana.
(6) A state chartered credit union in Indiana that is federally insured or privately insured and that has assets of three million dollars ($3,000,000) or more.
As added by P.L.19-1987, SEC.6. Amended by P.L.28-1994, SEC.1; P.L.18-1996, SEC.2; P.L.79-1998, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-13. "Economic Development Obligation"

Sec. 13. "Economic development obligation" means any loan or lease by a lender or lessor approved by the board for depositories as responsible and able to service the loan or lease properly, which is used to finance all or any portion of the cost of an economic development project.
As added by P.L.19-1987, SEC.6. Amended by P.L.189-2018, SEC.31.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-14. "Economic Development Project"

Sec. 14. "Economic development project" has the meaning set forth in IC 5-1.2-2 and includes mining operations, agricultural operations that involve the processing of agricultural products, and any other type of business project for which the Indiana finance authority may make a loan or lease guarantee.
As added by P.L.19-1987, SEC.6. Amended by P.L.11-1990, SEC.105; P.L.235-2005, SEC.79; P.L.189-2018, SEC.32.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-16. "Investing Officer"

Sec. 16. "Investing officer" means the person having authority by law to invest for the political subdivision, or, if there is no law, the person designated by resolution of the fiscal body.
As added by P.L.19-1987, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-19. "Political Subdivision"

Sec. 19. (a) Except as provided in subsections (b) and (c), "political subdivision" has the meaning set forth in IC 36-1-2-13.
(b) A hospital organized or operated under IC 16-22-1 through IC 16-22-5 or IC 16-23-1 is considered a political subdivision only for purposes of IC 5-13-12 and IC 5-13-13.
(c) For purposes of IC 5-13-7 and IC 5-13-8, the term does not include a city or a town.
As added by P.L.19-1987, SEC.6. Amended by P.L.5-1988, SEC.36; P.L.2-1993, SEC.46; P.L.10-1997, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-20. "Public Funds"

Sec. 20. "Public funds" means all fees and funds of whatever kind or character coming into the possession of any public officer by virtue of that office. The term does not include:
(1) support payments made to the clerk of a circuit court under IC 31-16-9 (or IC 31-1-11.5-13 before its repeal); or
(2) proceeds of bonds payable exclusively by a private entity.
As added by P.L.19-1987, SEC.6. Amended by P.L.73-1995, SEC.1; P.L.1-1997, SEC.34.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-21. "Public Officer"

Sec. 21. "Public officer" means any person elected or appointed to any office of the state or any political subdivision. "Public officer" includes an officer of all boards, commissions, departments, institutions, and other bodies established by law to function as a part of the government of the state or political subdivision that are supported wholly or partly by appropriations of money made from the treasury of the state or political subdivision or that are supported wholly or partly by taxes or fees. "Public officer" does not include an officer of an independent body politic and corporate set up as an instrumentality of the state but not constituting a political subdivision.
As added by P.L.19-1987, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 4. Definitions › 5-13-4-21.3. "Public Servant"

Sec. 21.3. "Public servant" has the meaning set forth in IC 35-31.5-2-261.
As added by P.L.107-2011, SEC.1. Amended by P.L.114-2012, SEC.14.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 5. General Provisions › 5-13-5-0.3. p.l.19-1987 Restatement of Law Affecting Public Deposit Insurance Fund and the Board for Depositories

Sec. 0.3. (a) P.L.19-1987 is intended to restate the law affecting the public deposit insurance fund and the board for depositories. The substantive operation of the public deposit insurance fund and the board for depositories, established under IC 5-12-1-19.1 (before its repeal) continues uninterrupted under IC 5-13-12, as added by P.L.19-1987.
(b) P.L.19-1987 does not affect rights or liabilities of the public deposit insurance fund and board for depositories accrued before May 6, 1987.
As added by P.L.220-2011, SEC.92.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 5. General Provisions › 5-13-5-1. Cashbook; Duties of Public Officers; Public Inspection

Sec. 1. (a) Every public officer who receives or distributes public funds shall:
(1) keep a cashbook into which the public officer shall enter daily, by item, all receipts of public funds; and
(2) balance the cashbook daily to show funds on hand at the close of each day.
(b) The cashbook is a public record and is open to public inspection in accordance with IC 5-14-3.
(c) A person who violates this section is subject to IC 35-44.2-2-2.
As added by P.L.19-1987, SEC.7. Amended by P.L.126-2012, SEC.21; P.L.32-2019, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 5. General Provisions › 5-13-5-2. Application of Section to Public Funds Other Than State Funds; Warrants for Payment of Public Funds; Copy of Warrant; Disposition of Warrant

Sec. 2. (a) This section applies to public funds other than state funds. In all political subdivisions where the fiscal officer and investing officer are two (2) separate individuals by law, all warrants for the payment of public funds shall be drawn by the proper public officer upon the proper treasurer. In all political subdivisions where the fiscal officer and investing officer are the same individual by law, all warrants shall be drawn by the fiscal officer directly against a depository. A copy of the warrant shall be attached to each warrant when drawn. The copy of the warrant shall be readily detachable and shall show the following information:
(1) The number of the warrant.
(2) The date and amount of the warrant.
(3) The name of the payee.
(4) The purpose of the warrant.
(5) The name and office of the drawer.
(6) The fund and the appropriation upon which the warrant is drawn.
(b) In all political subdivisions where the fiscal officer and investing officer are two (2) separate individuals by law, warrants shall be presented by the proper public officer to the proper treasurer, who shall detach and retain the copy of the warrant, countersign the original, and stamp upon the original the name of the depository by which it is payable. A warrant is effective only if it is stamped and countersigned as provided in this subsection. After countersignature and stamping, all warrants shall be returned to the proper public officer for distribution. The proper treasurer, when any warrant is presented for payment by any person other than a depository, may, for convenience of the persons presenting the warrant, pay the amount of the warrant to the holder, take an assignment by endorsement of the warrant, and deposit the warrant in the proper depository in lieu of the cash paid out to the holder of the warrant.
As added by P.L.19-1987, SEC.7.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 5. General Provisions › 5-13-5-4. Signature of Authorized Public Officers on Check or Negotiable Order of Withdrawal; Purposes

Sec. 4. (a) All checks or negotiable orders of withdrawal drawn upon depositories shall be signed by public officers authorized to sign the check or negotiable order of withdrawal in the officer's official capacity. All funds paid out of the state treasury must be by check or negotiable order of withdrawal of the state treasurer upon the warrant of the auditor of state.
(b) A public officer may draw a check or negotiable order of withdrawal upon a depository only for the following purposes:
(1) The payment of a warrant drawn by the auditor of state.
(2) The payment of a warrant drawn by the fiscal officer of a political subdivision, where the fiscal officer and investing officer are two (2) separate individuals by law.
(3) The payment of a legal claim against a political subdivision where the fiscal officer and investing officer are the same individual by law.
(4) An investment authorized under this article.
(5) The transfer of funds between depositories.
As added by P.L.19-1987, SEC.7. Amended by P.L.18-1996, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 5. General Provisions › 5-13-5-5. Transacting Business With Financial Institution or Public Retirement Fund Through Use of Electronic Funds Transfer; Ordinance or Resolution

Sec. 5. (a) The fiscal body of any political subdivision may by ordinance or resolution authorize the proper legal officers of the political subdivision to transact the political subdivision's business with a financial institution or a public pension or retirement fund administered by the Indiana public retirement system through the use of electronic funds transfer.
(b) The ordinance or resolution must:
(1) specify the types of transactions that may be conducted by electronic funds transfer; and
(2) require the proper officers to maintain adequate documentation of the transactions so that they may be audited as provided by law.
As added by P.L.19-1987, SEC.7. Amended by P.L.61-2002, SEC.9; P.L.35-2012, SEC.91.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 5. General Provisions › 5-13-5-6. Financial Institution Continuation Qualification as Depository

Sec. 6. (a) A financial institution that is a depository for the state on March 21, 1996, and any successor financial institution, continues to be a depository for the state after March 21, 1996, without reapplying under IC 5-13-10.5, until the earliest of the following occurs:
(1) The board of depositories revokes the status of the financial institution as a depository.
(2) The financial institution notifies the state board of finance that the financial institution is resigning as a depository for the state.
(3) Another law terminates the depository status of the financial institution.
A financial institution that qualifies under this subsection as a depository for the state after March 21, 1996, shall be treated after March 21, 1996, as if the financial institution were designated as a depository under IC 5-13-10.5.
(b) A financial institution that is a depository for a political subdivision on March 21, 1996, and any successor financial institution continues to be a depository for the political subdivision after March 21, 1996, without reapplying under IC 5-13-10.5 or IC 5-13-8-1, until the earliest of the following occurs:
(1) The state board of finance revokes the status of the financial institution as a depository.
(2) The financial institution notifies the state board of finance or the local board of finance for the political subdivision that the financial institution is resigning as a depository for the political subdivision.
(3) Another law terminates the depository status of the financial institution.
A financial institution that qualifies under this subsection as a depository for a political subdivision after March 21, 1996, shall be treated after March 21, 1996, as if the financial institution were designated as a depository under IC 5-13-8.
(c) Subject to IC 5-13-8-9, a financial institution that is a depository for the state on March 21, 1996, and any successor financial institution is eligible after March 21, 1996, to become a depository for any political subdivision for which the financial institution is not already a depository without reapplying under IC 5-13-10.5 or IC 5-13-8-1. A financial institution that qualifies under this subsection as a depository for a political subdivision after March 21, 1996, shall be treated after March 21, 1996, as if the financial institution were designated as a depository under IC 5-13-8.
(d) The treasurer of state shall add any financial institution that qualifies as a depository for political subdivisions under subsection (b) or (c) to the list of depositories eligible to receive the public funds of political subdivisions under IC 5-13-8-1.
As added by P.L.16-2009, SEC.12.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 6. Deposit of Public Funds › 5-13-6-2. Fees Collected for Services Rendered

Sec. 2. In all cases where law provides that any state officer collects any fee for any service rendered or examination made, and the fee collected is appropriated to pay the salary, per diem, or the expenses of any state officer for rendering the service or making the examination, the state officer shall deposit the fees, under section 1 of this chapter, and the salary, per diem, and expenses on account of the services shall be paid out of the state treasury upon an account filed and approved as provided by law. The salary, per diem, and expenses must not exceed the fees collected and paid into the state treasury unless otherwise provided by law.
As added by P.L.19-1987, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 6. Deposit of Public Funds › 5-13-6-3. Taxes Collected by County Treasurer; Deposit; Advance by County Auditor to Political Subdivisions; Semiannual Distribution

Sec. 3. (a) All taxes collected by the county treasurer shall be deposited as one (1) fund in the several depositories selected for the deposit of county funds and, except as provided in subsection (b), remain in the depositories until distributed at the following semiannual distribution made by the county auditor.
(b) Every county treasurer who, by virtue of the treasurer's office, is the collector of any taxes for any political subdivision wholly or partly within the county shall, not later than thirty (30) days after receipt of a written request for funds filed with the treasurer by a proper officer of any political subdivision within the county, provide to the county auditor the amount available for distribution, as certified for each semiannual distribution under IC 6-1.1-27-2. The county auditor shall advance to that political subdivision a portion of the taxes collected before the semiannual distribution. The amount advanced may not exceed the lesser of:
(1) ninety-five percent (95%) of the total amount collected at the time of the advance; or
(2) ninety-five percent (95%) of the amount to be distributed at the semiannual distribution.
(c) Upon notice from the county treasurer of the amount to be advanced, the county auditor shall draw a warrant upon the county treasurer for the amount. The amount of the advance must be available immediately for the use of the political subdivision.
(d) At the semiannual distribution all the advances made to any political subdivision under subsection (b) shall be deducted from the total amount due any political subdivision as shown by the distribution.
(e) If a county auditor fails to make a distribution of tax collections by the deadline for distribution under subsection (b), a political subdivision that was to receive a distribution may recover interest on the undistributed tax collections under IC 6-1.1-27-1.
As added by P.L.19-1987, SEC.8. Amended by P.L.245-2003, SEC.1; P.L.146-2008, SEC.38; P.L.89-2010, SEC.1; P.L.166-2014, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 6. Deposit of Public Funds › 5-13-6-4. Support Payments; Clerk of Circuit Court May Elect Not to Follow Accounting and Depository Procedure Prescribed; Prenumbered Receipts and Support Cashbook

Sec. 4. (a) Notwithstanding section 1 of this chapter, the clerk of a circuit court, in accounting for and disbursing support payments made through the clerk in accordance with IC 31-16-9 (or IC 31-1-11.5-13, IC 31-6-6.1-16, or IC 31-14-11-11, before their repeal) may elect not to follow the accounting and depository procedures required by this chapter.
(b) If the clerk of a circuit court elects under subsection (a) not to follow the accounting and depository procedures required by this chapter, the clerk shall issue prenumbered receipts and keep a support cashbook for daily entry, by item, of all receipts and disbursements of support payments made through the clerk. The support receipts and cashbook are public records to be kept on forms prescribed by the state board of accounts, and shall be balanced daily.
As added by P.L.19-1987, SEC.8. Amended by P.L.65-1989, SEC.1; P.L.1-1997, SEC.35; P.L.207-2013, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-1. County Board of Finance; Membership; Duties

Sec. 1. Except as provided in section 2 of this chapter, the board of commissioners and the county treasurer in each county together constitute the county board of finance. The board has supervision of the revocation of public depositories for all public funds of the county.
As added by P.L.19-1987, SEC.9. Amended by P.L.46-1991, SEC.1; P.L.46-1997, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-2. County Having Consolidated City; Composition; Duties; Secretary

Sec. 2. (a) In a county having a consolidated city, the county board of finance is composed of:
(1) the county treasurer;
(2) the county auditor;
(3) the county assessor;
(4) the mayor of the consolidated city;
(5) the controller of the consolidated city; and
(6) the president of the board of school commissioners of the school city described by IC 20-25-3-1.
(b) The board has supervision of the revocation of public depositories for all public funds of the following:
(1) The county.
(2) The consolidated city.
(3) The school city.
(4) Any other political subdivision in the county whose local board of finance designates the county board of finance for those purposes.
As added by P.L.19-1987, SEC.9. Amended by P.L.37-1992, SEC.1; P.L.29-1994, SEC.1; P.L.46-1997, SEC.2; P.L.1-2005, SEC.79.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-3. County Board of Finance; Compensation

Sec. 3. The members of a county board of finance serve without compensation other than the members' salaries as officers of the members' respective political subdivisions.
As added by P.L.19-1987, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-5. Boards of Finance of Other Political Subdivisions; Duties; Compensation

Sec. 5. (a) The fiscal body of each political subdivision not governed by sections 1 through 3 of this chapter constitutes a board of finance for that political subdivision.
(b) Each board of finance has supervision of the revocation of public depositories for the respective political subdivisions for which they act.
(c) The members of the boards serve without compensation other than the members' salaries allowed by law for the members' services as officers of the members' respective political subdivisions.
As added by P.L.19-1987, SEC.9. Amended by P.L.46-1997, SEC.4; P.L.10-1997, SEC.8; P.L.68-2001, SEC.3; P.L.115-2010, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-6. Meetings; Election of Officers; Term; Quorum; Open Meetings; Nature of Board

Sec. 6. (a) Each local board of finance shall meet annually after the first Monday and on or before the last day of January. At the annual meeting the board of finance shall do the following:
(1) Elect from the board's membership:
(A) a president; and
(B) a secretary.
The officers elected hold office until the officers' successors are elected and qualified.
(2) Receive and review the report required by section 7 of this chapter.
(3) In the case of a board of finance of a school corporation, receive and review the report submitted under section 8 of this chapter.
(b) A majority of the members of each board of finance constitutes a quorum for the transaction of business. Each board of finance shall hold additional sessions whenever necessary to discharge its duties and to accomplish the purposes of this chapter. The president of each board shall convene the board whenever requested to do so by one (1) of the members, or whenever necessary to the performance of the duties imposed by this chapter.
(c) All meetings of the boards of finance must be open to the public, and the records of the boards shall be subject to public inspection in accordance with IC 5-14-3 and IC 5-15-2, respectively. The secretary of each board shall keep a record of the proceedings, which shall be approved and signed by the president of the board and attested by the secretary.
(d) A local board of finance shall be known by the name "The Board of Finance of _______", inserting the name of the proper political subdivision, and may sue and be sued in the board's name in any action and in any court of competent jurisdiction.
As added by P.L.19-1987, SEC.9. Amended by P.L.37-1992, SEC.2; P.L.57-1993, SEC.2; P.L.74-1995, SEC.1; P.L.72-1995, SEC.2; P.L.10-1997, SEC.9; P.L.101-2019, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-7. Investment Report

Sec. 7. (a) During the annual meeting required by section 6 of this chapter, the investment officer shall make a written report to the investing officer's local board of finance summarizing the political subdivision's investments during the previous calendar year. The report must contain the name of each financial institution, government agency or instrumentality, or other person with whom the political subdivision invested money during the previous calendar year.
(b) The local board of finance shall do the following at the meeting:
(1) Review the report.
(2) Review the overall investment policy of the political subdivision.
As added by P.L.72-1995, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 7. Local Boards of Finance › 5-13-7-8. School Corporation Financial Condition Report; Review of Report

Sec. 8. (a) During the annual meeting required by section 6 of this chapter, the superintendent of a school corporation shall submit a written report to the local board of finance for the school corporation. The report must assess the financial condition of the school corporation using the fiscal and qualitative indicators determined under IC 20-19-7-4 by the distressed unit appeal board established by IC 6-1.1-20.3-4.
(b) The local board of finance shall review the report made under subsection (a).
(c) The superintendent of a school corporation may delegate the duty to submit a report under subsection (a) to an employee or representative of the school corporation.
As added by P.L.101-2019, SEC.2. Amended by P.L.184-2023, SEC.4; P.L.236-2023, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 8. Designation of Depositories › 5-13-8-1. Deposit of Public Funds; Prerequisites

Sec. 1. (a) A political subdivision may deposit public funds in a financial institution only if the financial institution:
(1) is a depository eligible to receive state funds; and
(2) has a principal office or branch that qualifies under section 9 of this chapter to receive public funds of the political subdivision.
(b) The state board of finance shall make available information concerning financial institutions eligible to receive state funds as may be requested by a local board of finance. A local board of finance may rely on certificates described in IC 5-13-9.5-1(d) in determining to deposit public funds or reinvest public funds in the financial institution.
As added by P.L.19-1987, SEC.10. Amended by P.L.5-1988, SEC.37; P.L.66-1989, SEC.1; P.L.44-1990, SEC.2; P.L.2-1993, SEC.47; P.L.74-1995, SEC.2; P.L.18-1996, SEC.7; P.L.46-1997, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 8. Designation of Depositories › 5-13-8-6. Forms; Filing Copy of Institution's Statement of Condition

Sec. 6. (a) The state board of accounts shall prepare and consolidate the forms that are required under this chapter or IC 5-13-9.5, or both, to eliminate unnecessary paperwork.
(b) These forms must be used by the state board of finance and the several local boards of finance and depositories in the performance of the duties imposed under this chapter. The rights of political subdivisions and designated depositories must be subject to modification by any statute and by all rules adopted by the department of financial institutions respecting withdrawal of funds in times of emergency.
(c) A financial institution designated as a depository under this chapter shall, upon request of the appropriate investing officer, file with the investing officer a copy of the institution's most recent statement of condition filed with the institution's governmental supervisory body under the regulatory accounting principles as prescribed by the supervisory body.
As added by P.L.19-1987, SEC.10. Amended by P.L.18-1996, SEC.8; P.L.46-1997, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 8. Designation of Depositories › 5-13-8-9. Deposit of Funds in Depositories Within Respective Territorial Limits of Political Subdivisions; Exceptions

Sec. 9. (a) All public funds of all political subdivisions shall be deposited in the designated depositories located in the respective territorial limits of the political subdivisions, except as provided in this section.
(b) Each board of finance of a political subdivision:
(1) that is not a city, town, or school corporation; and
(2) whose jurisdiction crosses one (1) or more county lines;
may limit its boundaries for the purpose of this section to that portion of the political subdivision within the county where its principal office is located.
(c) If there is no principal office or branch of a financial institution located in the county or political subdivision, or if no financial institution with a principal office or branch in the county or political subdivision will accept public funds under this chapter, the board of finance of the county and the boards of finance of the political subdivisions in the county shall designate one (1) or more financial institutions with a principal office or branch outside of the county or political subdivision, and in the state, as a depository or depositories.
(d) The board of trustees for a hospital organized or operated under IC 16-22-1 through IC 16-22-5 or IC 16-23-1 may invest any money in the hospital fund anywhere in the state with any financial institution designated by the state board of finance as depositories for state deposits.
(e) If only one (1) financial institution that has a branch or principal office in a county or political subdivision is willing to accept public funds, the board of finance for the county or political subdivision may:
(1) treat the financial institution that is located within the county or political subdivision as if the financial institution were not located within the county or political subdivision; and
(2) designate one (1) or more financial institutions to receive public funds under the requirements of subsection (c).
(f) The investing officer shall maintain the deposits as follows:
(1) In one (1) or more depositories designated for the political subdivision, if the sum of the monthly average balances of all the transaction accounts for the political subdivision does not exceed one hundred thousand dollars ($100,000).
(2) In each depository designated for the political subdivision, if subdivision (1) does not apply and fewer than three (3) financial institutions are designated by the local board of finance as a depository.
(3) In at least two (2) depositories designated for the political subdivision, if subdivision (1) does not apply and at least three (3) financial institutions are designated by the local board of finance as a depository.
As added by P.L.19-1987, SEC.10. Amended by P.L.44-1990, SEC.4; P.L.2-1993, SEC.48; P.L.75-1995, SEC.1; P.L.74-1995, SEC.4; P.L.18-1996, SEC.10; P.L.46-1997, SEC.8; P.L.173-2003, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 8. Designation of Depositories › 5-13-8-10. Repealed

As added by P.L.19-1987, SEC.10. Amended by P.L.50-1988, SEC.2; P.L.44-1990, SEC.5. Repealed by P.L.18-1996, SEC.33.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 8. Designation of Depositories › 5-13-8-13. Resignation as Depository

Sec. 13. Any depository designated under this chapter may resign as a depository and relinquish all public funds on deposit with the depository. The resignation is effective after thirty (30) days notice in writing to the state board of finance and after settlement with the proper board of finance for all public funds on deposit with the depository.
As added by P.L.19-1987, SEC.10. Amended by P.L.46-1997, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 8. Designation of Depositories › 5-13-8-14. Prohibition of Designation of Depository for Disqualification Under Ic 5-22-16.5

Sec. 14. A financial institution may not be designated as a depository under this chapter if the financial institution would be disqualified from being awarded a contract under IC 5-22-16.5.
As added by P.L.21-2012, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 9. Deposit and Investment Powers › 5-13-9-0.3. Legalization of Investment in Certain Public Funds

Sec. 0.3. An investment in public funds (as defined in IC 5-13-4-20):
(1) made or entered into before March 21, 1996; and
(2) that:
(A) would have been in compliance with this chapter, as amended by P.L.18-1996, if this chapter, as amended by P.L.18-1996, had been in effect at the time the investment was made or agreement entered into;
(B) is no longer in effect on March 21, 1996; or
(C) is brought into compliance with this chapter, as amended by P.L.18-1996, not later than June 19, 1996;
is legalized and validated.
As added by P.L.220-2011, SEC.93.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 9. Deposit and Investment Powers › 5-13-9-0.4. Legalization of Certain Investment of Public Funds

Sec. 0.4. An investment of public funds (as defined in IC 5-13-4-20, as in effect before February 27, 1996):
(1) made under a repurchase or resale agreement, including a standing repurchase or resale agreement, that was entered into before February 27, 1996; and
(2) that:
(A) would have been in compliance with section 3 of this chapter, as amended by P.L.41-1996, if section 3 of this chapter, as amended by P.L.41-1996, had been in effect at the time the repurchase or resale agreement, including a standing repurchase or resale agreement, was entered into;
(B) is no longer in effect on February 27, 1996; or
(C) is brought into compliance with section 3 of this chapter, as amended by P.L.41-1996, not later than May 27, 1996;
is legalized and validated.
As added by P.L.220-2011, SEC.94.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 9. Deposit and Investment Powers › 5-13-9-1. Investment Powers; Funds That May Be Invested

Sec. 1. (a) Except as provided in subsection (b), in addition to any other statutory power to make investments, each county treasurer and each fiscal officer of any political subdivision other than a county, under the guidelines established, respectively, by the board of county commissioners of each county and the fiscal body of any other subdivision, and any other officer of a local government entity authorized by statute or court order to make investments, may invest any funds held by each in accordance with this chapter.
(b) The treasurer of state may invest funds under sections 2(a)(3) and 2.5 of this chapter.
(c) The funds that may be invested under this chapter include money raised by bonds issued for a future specific purpose, sinking funds, depreciation reserve funds, gift, bequest or endowment, and any other funds available for investment.
As added by P.L.19-1987, SEC.11. Amended by P.L.18-1996, SEC.11; P.L.134-1999, SEC.1; P.L.220-2003, SEC.1; P.L.102-2014, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 13. Investment of Public Funds › Chapter 9. Deposit and Investment Powers › 5-13-9-2.5. Permitted Investments; Limitations

Sec. 2.5. (a) An officer designated in section 1 of this chapter may invest or reinvest funds that are held by the officer and available for investment in investments commonly known as money market mutual funds that are in the form of securities of or interests in an open-end, no-load, management-type investment company or investment trust registered under the provisions of the federal Investment Company Act of 1940, as amended (15 U.S.C. 80a et seq.).
(b) The investments described in subsection (a) shall be made through depositories designated by the state board of finance as depositories for state deposits under IC 5-13-9.5.
(c) The portfolio of an investment company or investment trust described in subsection (a) must be limited to the following:
(1) Direct obligations of the United States.
(2) Obligations issued by any of the following:
(A) A federal agency.
(B) A federal instrumentality.
(C) A federal government sponsored enterprise.
(3) Repurchase agreements fully collateralized by obligations described in subdivision (1) or (2).
(d) The form of securities of or interests in an investment company or investment trust described in subsection (a) must be rated as one (1) of the following:
(1) AAAm, or its equivalent, by Standard and Poor's Corporation or its successor.
(2) Aaa, or its equivalent, by Moody's Investors Service, Inc. or its successor.
(e) The form of securities in an investment company or investment trust described in subsection (a) is considered to have a stated final maturity of one (1) day.
(f) The state board of accounts may rely on transaction confirmations evidencing ownership of the form of securities of or interests in an investment company or investment trust described in subsection (a).
As added by P.L.134-1999, SEC.3. Amended by P.L.115-2010, SEC.7.