reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 2. Indiana Public Retirement System › 5-10.5-2-4. Board, System, and Employees Are Public Employees

Sec. 4. For purposes of IC 34-13-2, IC 34-13-3, and IC 34-13-4, the board, the system, and all employees of the board or the system are public employees (as defined in IC 34-6-2-38).
As added by P.L.23-2011, SEC.22. Amended by P.L.100-2012, SEC.16.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 2. Indiana Public Retirement System › 5-10.5-2-5. System Management and Administration

Sec. 5. The system shall be managed and administered by a board of trustees established under IC 5-10.5-3.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 2. Indiana Public Retirement System › 5-10.5-2-6. Each Fund Is Separate Fund

Sec. 6. Each public pension or retirement fund listed in section 2 of this chapter is a separate fund managed by the board under this article and the retirement law applicable to the public pension or retirement fund. The obligations of the state and political subdivisions for benefit payments are specified in the retirement law applicable to each public pension or retirement fund.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-1. Board Established; Purpose

Sec. 1. (a) The board of trustees of the Indiana public retirement system is established.
(b) The board shall manage and administer each public pension or retirement fund that comprises the system in accordance with:
(1) this article; and
(2) the retirement law applicable to the public pension or retirement fund.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-3. Term of Office

Sec. 3. (a) A trustee shall serve a term of four (4) years, beginning on July 1 following the trustee's appointment.
(b) Whenever a trustee is appointed to fill a vacancy caused by death or resignation, the trustee shall serve the unexpired term of the trustee's predecessor.
(c) A trustee shall serve until the trustee's successor is appointed and qualified.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-5. Oath of Office; Qualification for Membership

Sec. 5. (a) Each trustee shall take an oath of office. The oath must be:
(1) subscribed to by the trustee making the oath;
(2) certified by the officer before whom the trustee takes the oath; and
(3) filed with the secretary of state.
(b) A trustee is qualified for membership on the board when the trustee's oath is filed with the secretary of state.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-6. Expense Reimbursement

Sec. 6. (a) Each trustee is entitled to reimbursement for necessary expenses actually incurred through service on the board.
(b) Trustee expenses shall be paid from fund assets.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-7. Officers; Election; Term of Office

Sec. 7. (a) Not later than December 31 each year, the board shall elect a chair and vice chair from its members to serve as the officers of the board.
(b) An officer shall serve for one (1) year or until the officer's successor is elected and qualified.
As added by P.L.23-2011, SEC.22. Amended by P.L.15-2013, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-8. Meetings; Open to the Public; Record of Proceedings

Sec. 8. (a) The board shall hold regular meetings at least quarterly.
(b) The board may hold special meetings:
(1) at the call of the chair; or
(2) with a written request signed by at least five (5) trustees.
(c) The board may hold its meetings at the system's general offices or at any other place in Indiana that the board designates.
(d) All meetings must be open to the public in accordance with IC 5-14-1.5.
(e) The board shall keep a record of its proceedings.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 3. Board of Trustees › 5-10.5-3-10. Voting; Quorum

Sec. 10. (a) Five (5) trustees constitute a quorum for the transaction of business.
(b) Each trustee is entitled to one (1) vote.
(c) A majority vote of the trustees present is required for the board to adopt a resolution or take other action at a regular or special meeting.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-2. Powers

Sec. 2. (a) The board may do any of the following:
(1) Establish and amend rules and regulations:
(A) for the administration and regulation of the fund and the board's affairs; and
(B) to effectuate the powers and purposes of the board;
without adopting a rule under IC 4-22-2.
(2) Make contracts and sue and be sued as the board of trustees of the Indiana public retirement system.
(3) Delegate duties to its employees.
(4) Enter into agreements with one (1) or more insurance companies to provide life, hospitalization, surgical, medical, dental, vision, long term care, or supplemental Medicare insurance, utilizing individual or group insurance policies for retired members of the fund, and, upon authorization of the respective member, deduct premium payments for such policies from the members' retirement benefits and remit the payments to the insurance companies.
(5) Enter into agreements with one (1) or more insurance companies to provide annuities for retired members of the fund, and, upon a member's authorization, transfer the amount credited to the member in the annuity savings account to the insurance companies.
(6) For the 1977 police officers' and firefighters' pension and disability fund, deduct from benefits paid and remit to the appropriate entities amounts authorized by IC 36-8-8-17.2.
(7) Whenever the fund's membership is sufficiently large for actuarial valuation, establish an employer's contribution rate for all employers, including employers with special benefit provisions for certain employees.
(8) Amortize prior service liability over a period of thirty (30) years or less.
(9) Recover payments made under false or fraudulent representation.
(10) Give bond for an employee for the fund's protection.
(11) Receive the state's share of the cost of the pension contribution from the federal government for a member on leave of absence in order to work in a federally supported educational project.
(12) Summon and examine witnesses when adjusting claims.
(13) When adjusting disability claims, require medical examinations by doctors approved or appointed by the board. Not more than two (2) examinations may be conducted in one (1) year.
(14) Conduct investigations to help determine the merit of a claim.
(15) Meet an emergency that may arise in the administration of the board's trust.
(16) Determine other matters regarding the board's trust that are not specified.
(17) Exercise all powers necessary, convenient, or appropriate to carry out and effectuate its public and corporate purposes and to conduct its business.
(b) This subsection does not apply to investments of the board. A contract under subsection (a)(2) may be for a term of not more than five (5) years, with an ability to renew thereafter.
(c) An agreement under subsection (a)(4) may be for a duration of three (3) years.
As added by P.L.23-2011, SEC.22. Amended by P.L.111-2015, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-2.5. Third Party Contracts for Annuities; Limitations

Sec. 2.5. Notwithstanding any other provision in this article, IC 5-10.2, IC 5-10.3, or IC 5-10.4, the board may not, before January 1, 2017, enter into an agreement with a third party provider to provide annuities for retiring members of:
(1) the public employees' retirement fund; or
(2) the teachers' retirement fund.
As added by P.L.177-2014, SEC.4.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-2.6. Annuity Interest Rates

Sec. 2.6. (a) This subsection applies after September 30, 2014, and before January 1, 2017.The following interest rates shall be used to determine the annuity amount purchasable by a member of the public employees' retirement fund or the teachers' retirement fund who elects to receive, as part of the member's retirement or disability benefit, an annuity provided by the amount credited to the member in the member's annuity savings account:
(1) After September 30, 2014, and before October 1, 2015, five and seventy-five hundredths percent (5.75%).
(2) After September 30, 2015, and before January 1, 2017, the greater of:
(A) the interest rate for similar annuities being purchased in the private market as determined by the board; or
(B) four and one-half percent (4.5%).
(b) This subsection applies after December 31, 2016, whenever the board enters into an agreement with a third party provider to provide annuities for retiring members of the public employees' retirement fund or the teachers' retirement fund. The interest rate used to determine the annuity amount purchasable by a member is equal to the rate for similar annuities being purchased in the private market as recommended by the third party provider.
As added by P.L.177-2014, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-3. Powers to Be Interpreted Broadly

Sec. 3. The board's powers as specified in this article or the retirement law applicable to a public pension or retirement fund of the system:
(1) shall be interpreted broadly to accomplish the purposes of this article or the applicable retirement law; and
(2) may not be construed as a limitation of powers.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-4. Direct Deposit of Benefits

Sec. 4. Members and beneficiaries of the public pension and retirement funds of the system may receive monthly benefits only by direct deposit or another method approved by the board.
As added by P.L.127-2015, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-5. Postretirement Benefit Changes; Requirement

Sec. 5. (a) This section applies to the following public pension or retirement funds:
(1) The public employees' retirement fund established under IC 5-10.2 and IC 5-10.3.
(2) The Indiana state teachers' retirement fund established under IC 5-10.2 and IC 5-10.4.
(3) The state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement fund established under IC 5-10-5.5.
(4) The defined benefit plan of the legislators' retirement system established under IC 2-3.5-4.
(b) The board may not pay a postretirement benefit change or adjustment, including a postretirement benefit increase, thirteenth check, or other benefit change or adjustment granted by the general assembly after June 30, 2018, to members of a public pension or retirement fund listed in subsection (a), unless the change or adjustment is actuarially pre-funded.
As added by P.L.127-2018, SEC.13.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 4. Board Powers and Duties › 5-10.5-4-6. Inprs to Submit Annual Report to the Budget Committee Concerning Post-Employment Benefits

Sec. 6. The system shall, not later than December 1 each year, submit to the budget committee the following reports concerning post-employment benefits (as defined in IC 5-10-16-5):
(1) The report prepared by the system for state agencies under IC 5-10-16-7.
(2) Reports received from state educational institutions under IC 21-38-3-13.
As added by P.L.108-2019, SEC.97.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 5. Investments › 5-10.5-5-1. Investment Powers, Duties, and Limitations; Penalties

Sec. 1. The board has the powers, duties, restrictions, limitations, and penalties in connection with the board's investment and management of the assets of the public pension and retirement funds of the system under the following provisions:
(1) IC 5-10.2-2-2.5.
(2) IC 5-10.2-2-13.
(3) IC 5-10.3-3-7.1.
(4) IC 5-10.3-5-3.
(5) IC 5-10.3-5-3.1.
(6) IC 5-10.3-5-4.
(7) IC 5-10.3-5-5.
(8) IC 5-10.3-5-6.
(9) IC 5-10.4-3-7.
(10) IC 5-10.4-3-9.
(11) IC 5-10.4-3-10.
(12) IC 5-10.4-3-11.
(13) IC 5-10.4-3-12.
(14) IC 5-10.4-3-13.
(15) IC 5-10.4-3-14.
(16) IC 5-10.4-3-15.
(17) IC 5-10.4-3-16.
(18) IC 5-10.2-14.
As added by P.L.23-2011, SEC.22. Amended by P.L.86-2018, SEC.19; P.L.206-2023, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 5. Investments › 5-10.5-5-2. Transactions Subject to Internal Revenue Code Qualification Requirements

Sec. 2. The board's transactions under this chapter are subject to IC 2-3.5-3-3, IC 5-10-5.5-2.5, IC 5-10.2-2-1.5, IC 33-38-6-13, IC 33-39-7-22, and IC 36-8-8-2.5.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-1. Director; Executive Officer; Appointment

Sec. 1. (a) The director is the executive officer of the system and is responsible for the administration of the system.
(b) The director is appointed by and serves at the pleasure of the board.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-2. Director; Duties

Sec. 2. The director shall do the following:
(1) Maintain a record of the board's proceedings.
(2) Keep the books and records of the system.
(3) Deposit payments made to the system with the custodian for the system's accounts.
(4) Sign vouchers for the payment of money from the system as authorized by the board.
(5) Execute a corporate surety bond in an amount specified by the board. The premium for the bond is an administrative expense of the system.
(6) Perform other duties as assigned by the board.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-3. Fund Member Records; Requirements

Sec. 3. (a) The board shall maintain individual records for each member of a public pension or retirement fund of the system administered by the board.
(b) A member's record must include at least the following information:
(1) The member's name.
(2) Date of birth.
(3) Age at beginning service.
(4) Service record.
(5) Address.
(6) Contributions.
(7) Amounts withdrawn.
(8) Benefits paid.
(9) Social Security number.
(10) Any other information necessary for the fund to administer the member's account.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-4. Fund Member Records; Confidentiality; Exceptions

Sec. 4. (a) Records of:
(1) individual members of; and
(2) membership information concerning;
a public pension or retirement fund administered by the board are confidential, except for the name and years of service of a member.
(b) This section does not prohibit the board from providing fund records to an association or organization described in IC 2-3.5-4-12, IC 2-3.5-5-10, IC 5-10.3-8-10, IC 5-10.4-5-14.5, or IC 36-8-8-17.2.
As added by P.L.23-2011, SEC.22. Amended by P.L.15-2013, SEC.7.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-5. Administrative Expenses; Proration

Sec. 5. (a) Each public pension and retirement fund of the system shall pay the expenses of administration attributable to that public pension or retirement fund.
(b) The board shall:
(1) prorate the expenses of administration of the system that cannot be attributed to a particular public pension or retirement fund and the bond of the director among; and
(2) pay the prorated expenses from;
the public pension and retirement funds of the system.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-6. Report on Stress Test or Risk Assessment

Sec. 6. If during a state fiscal year beginning after June 30, 2018, the system performs a stress test or a risk assessment on any of the public pension and retirement funds of the system, including a sensitivity analysis of funding status, the director, or another suitable person designated by the director, shall before November 1 of the following state fiscal year:
(1) submit a report describing the stress tests and risk assessments performed and the results of those tests and risk assessments to the interim study committee on pension management oversight established by IC 2-5-1.3-4 in an electronic format under IC 5-14-6; and
(2) upon request from the chairman of the interim study committee on pension management oversight, present a summary of the information described in subdivision (1) to the interim study committee on pension management oversight.
As added by P.L.20-2019, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 6. Director; Reports and Administration › 5-10.5-6-6.5. Inprs to Submit Annual Report to the Interim Study Committee on Pension Management Oversight

Sec. 6.5. The system shall, not later than October 1 each year, submit to the interim study committee on pension management oversight a written report that summarizes and analyzes the retirement plan information received for the immediately preceding state fiscal year under IC 5-11-20. The report must be in an electronic format under IC 5-14-6.
As added by P.L.108-2019, SEC.98.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 7. Short Title and Saving Provisions › 5-10.5-7-2. Transfer or Assumption of Tangible and Intangible Property; Transfer of Powers and Duties

Sec. 2. (a) All powers, duties, liabilities, property, equipment, records, rights, and contracts of the:
(1) board of trustees of the public employees' retirement fund; and
(2) board of trustees of the teachers' retirement fund;
are transferred to or assumed by the board on July 1, 2011.
(b) The board shall provide indemnification of:
(1) the board of trustees of the public employees' retirement fund; and
(2) the board of trustees of the teachers' retirement fund;
as necessary or appropriate in regard to any liabilities of the public employees' retirement fund or the teachers' retirement fund assumed by the board.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 7. Short Title and Saving Provisions › 5-10.5-7-3. Transfer of Fund and Account Balances

Sec. 3. Any amounts transferred under this subsection to the system that represent balances in any fund or account of the public employees' retirement fund or the teachers' retirement fund for the administration of the public pension and retirement funds administered by the public employees' retirement fund or the teachers' retirement fund before July 1, 2011, including any related services, shall be:
(1) deposited in a fund or account designed by the board; and
(2) used by the system for the administration of the public pension and retirement funds of the system and related services.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 7. Short Title and Saving Provisions › 5-10.5-7-4. Transfer of Employees

Sec. 4. The employees of the:
(1) public employees' retirement fund; and
(2) teachers' retirement fund;
become employees of the system on July 1, 2011, without change in compensation, seniority, or benefits. An employee of the public employees' retirement fund who is a member of the public employees' retirement fund before July 1, 2011, and becomes an employee of the system after June 30, 2011, remains a member of the public employees' retirement fund after June 30, 2011. An employee of the teachers' retirement fund who is a member of the teachers' retirement fund before July 1, 2011, and becomes an employee of the system after June 30, 2011, remains a member of the teachers' retirement fund after June 30, 2011. An employee who becomes an employee of the system after June 30, 2011, is a member of the public employees' retirement fund, unless the director expressly determines otherwise.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 7. Short Title and Saving Provisions › 5-10.5-7-5. Rules and Regulations

Sec. 5. Rules and regulations of:
(1) the public employees' retirement fund; and
(2) the teachers' retirement fund;
in effect before July 1, 2011, are considered, after June 30, 2011, rules and regulations of the system.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 7. Short Title and Saving Provisions › 5-10.5-7-6. References and Cross-References

Sec. 6. (a) Any reference or cross-reference to:
(1) the board of trustees of the public employees' retirement fund; or
(2) the board of trustees of the teachers' retirement fund;
in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the board.
(b) Any reference or cross-reference to:
(1) the director of the public employees' retirement fund; or
(2) the director of the teachers' retirement fund;
in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the director.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.5. Indiana Public Pension Modernization Act › Chapter 7. Short Title and Saving Provisions › 5-10.5-7-7. Conflicts

Sec. 7. If any provision in this article conflicts with a provision in IC 5-10.2, IC 5-10.3, or IC 5-10.4, the provisions shall be read together to the extent possible with any conflict resolved in favor of the provision in this article.
As added by P.L.23-2011, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-2. System of Accounting and Reporting

Sec. 2. The state board of accounts shall formulate, prescribe, and install a system of accounting and reporting in conformity with this chapter for use by an audited entity, which must comply with the following:
(1) Be uniform for every public office and every public account of the same class and contain written standards that an entity that is subject to audit must observe.
(2) Exhibit true accounts and detailed statements of funds collected, received, obligated, and expended for or on account of the public for any and every purpose whatever, and by all public officers, employees, or other individuals.
(3) Show the receipt, use, and disposition of all public property and the income, if any, derived from the property.
(4) Show all sources of public income and the amounts due and received from each source.
(5) Show all receipts, vouchers, contracts, obligations, and other documents kept, or that may be required to be kept, to prove the validity of every transaction.
The state board of accounts shall formulate or approve all statements and reports necessary for the internal administration of the office to which the statements and reports pertain. The state board of accounts shall approve all reports that are published or that are required to be filed in the office of state examiner. The state board of accounts shall from time to time make and enforce changes in the system and forms of accounting and reporting as necessary to conform to law.
Formerly: Acts 1909, c.55, s.2; Acts 1945, c.176, s.2. As amended by Acts 1980, P.L.30, SEC.2; P.L.3-1986, SEC.8; P.L.39-1996, SEC.2; P.L.176-2009, SEC.2; P.L.157-2020, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-3. Separate Accounts

Sec. 3. In accordance with professional accounting standards, separate accounts shall be kept for every appropriation or fund of the state or any municipality. Separate accounts shall also be kept for each department, undertaking, enterprise, institution, and public service industry.
Formerly: Acts 1909, c.55, s.3. As amended by Acts 1980, P.L.30, SEC.3; P.L.59-2023, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-4. Annual Report Required for Approval of Budget, Supplemental Appropriations or for Issuance of Debt

Sec. 4. (a) The state examiner shall require from every audited entity financial reports covering the full period of each fiscal year. These reports shall be prepared, verified, and filed with the state examiner as set forth in the uniform compliance guidelines. The reports must be in the form and content prescribed by the state examiner and filed electronically in the manner prescribed under IC 5-14-3.8-7.
(b) 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 an annual report under subsection (a) for the preceding calendar year.
(c) As used in this subsection, "bonds" means any bonds, notes, or other evidences of indebtedness, whether payable from property taxes, other taxes, revenues, fees, or any other source. However, the term does not include notes, warrants, or other evidences of indebtedness that have a maturity of not more than five (5) years and that are made in anticipation of and to be paid from revenues of the political subdivision. Notwithstanding any other law, a county or municipality may not issue any bonds unless the county or municipality has filed an annual financial report with the state examiner for the preceding fiscal year. The requirements under this subsection for the issuance of bonds by a county or municipality are in addition to any other requirements imposed under any other law. This subsection applies to the issuance of bonds authorized under any statute, regardless of whether that statute specifically references this subsection or the requirements under this subsection.
Formerly: Acts 1909, c.55, s.4. As amended by Acts 1980, P.L.30, SEC.4; P.L.3-1986, SEC.9; P.L.44-1991, SEC.1; P.L.50-2000, SEC.2; P.L.189-2005, SEC.1; P.L.176-2009, SEC.3; P.L.172-2011, SEC.11; P.L.137-2012, SEC.8; P.L.184-2015, SEC.5; P.L.244-2017, SEC.5; P.L.157-2020, SEC.3; P.L.59-2023, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-6. Forms of Reports

Sec. 6. The state board of accounts shall formulate, prescribe, and approve the forms for reports required to be made by this chapter.
Formerly: Acts 1909, c.55, s.6. As amended by Acts 1980, P.L.30, SEC.5; P.L.181-2015, SEC.10.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-7. Field Examiners; Private Examiners; State Colleges and Universities; Experts

Sec. 7. (a) The state examiner shall appoint assistants not exceeding the number required to administer this article. The assistants are to be known as "field examiners" and are at all times subject to the order and direction of the state examiner. Field examiners shall inspect and examine accounts of all state agencies, municipalities, and other governmental units, entities, or instrumentalities.
(b) The state examiner may engage or, in accordance with section 24 of this chapter, allow the engagement of private examiners to the extent the state examiner determines necessary to satisfy the requirements of this article. These examiners are subject to the direction of the state examiner while performing examinations under this article. The state examiner shall allow the engagement of private examiners for any state college or university subject to examination under this article if the state examiner finds that the private examiner is an independent certified public accountant firm with specific expertise in the financial affairs of educational organizations. The state examiner shall allow the engagement of private examiners for any development authority in accordance with IC 36-7.5-2-9 or IC 36-7.6-2-14, whichever applies. These private examiners are subject to the direction of the state examiner while performing examinations under this article.
(c) The state examiner may engage experts to assist the state board of accounts in carrying out its responsibilities under this article.
Formerly: Acts 1909, c.55, s.7. As amended by Acts 1980, P.L.30, SEC.6; P.L.3-1986, SEC.10; P.L.181-2015, SEC.11; P.L.213-2015, SEC.61; P.L.149-2016, SEC.19; P.L.257-2019, SEC.4.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-8. Field Examiners

Sec. 8. All appointments of field examiners shall be made solely upon the ground of fitness and in accordance with professional accounting and auditing standards. The state board of accounts is empowered to make and establish, and from time to time alter and amend, by-laws, rules, and regulations for the proper enforcement of the provisions of this article and other laws placing duties and responsibilities on the state board of accounts.
Formerly: Acts 1909, c.55, s.8. As amended by Acts 1980, P.L.30, SEC.7; P.L.100-2012, SEC.17; P.L.59-2023, SEC.4.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-9.3. Examination of Certain Bodies Corporate and Politic

Sec. 9.3. (a) This section applies only to a body corporate and politic whose enabling statute does not provide for an annual audit, examination, or other engagement by:
(1) the state board of accounts; or
(2) an independent public accounting firm;
concerning financial or compliance related matters of the body corporate and politic.
(b) This section does not affect a body corporate and politic whose enabling statute provides for an annual audit, examination, or other engagement by the state board of accounts or an independent public accounting firm.
(c) As used in this section, "audit committee" refers to the audit and financial reporting subcommittee of the legislative council established by IC 2-5-1.1-6.3(b).
(d) As used in this section, "enabling statute" refers to a statute, including a statute enacted after June 30, 2020, that establishes a body corporate and politic.
(e) The state board of accounts may conduct an examination of a body corporate and politic described in this section. The state board of accounts shall permit a body corporate and politic to request in writing to the state examiner that an examination under this section be performed by an independent public accounting firm. The state examiner may approve a request under this section based on the applicable risk based examination criteria described in and approved under section 25 of this chapter.
(f) If a request under subsection (e) for an independent public accounting firm to conduct an examination is denied by the state examiner, the body corporate and politic may file an appeal of the denial with the audit committee. The audit committee shall hold a public hearing concerning the appeal and prepare a written decision determining whether the independent public accounting firm selected by the body corporate and politic is permitted to conduct the examination under this section. The audit committee's written decision is binding, and the state board of accounts shall allow the independent public accounting firm to conduct the examination if the audit committee determines the independent public accounting firm is permitted. The audit committee shall provide a copy of the written decision to the state board of accounts and to the body corporate and politic. The audit committee shall post a copy of the written decision on the audit committee's Internet web site.
(g) An examination of a body corporate and politic conducted under this section by the state board of accounts or an independent public accounting firm shall be filed with:
(1) the state board of accounts in the manner provided by this article; and
(2) the auditor of state.
As added by P.L.157-2020, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-9.5. Confidential Reporting; Retaliation; Relief

Sec. 9.5. (a) An individual may report suspected malfeasance, misfeasance, or nonfeasance by:
(1) a public office;
(2) a public officer; or
(3) an individual who handles, administers, or has responsibility for administering public funds on behalf of an audited entity;
to the state board of accounts. The individual's identity is confidential unless a civil proceeding is pending under IC 5-11-5-1(a) and the court orders disclosure.
(b) A public office, officer, entity, or institution may not retaliate against an employee of the state or a political subdivision for making a report under subsection (a).
(c) An individual who has been discharged, demoted, suspended, threatened, harassed, or otherwise discriminated against by the individual's employer in the terms and conditions of employment as a result of the individual's good faith reporting actions under this section is entitled to all relief necessary to make the individual whole.
(d) Relief under subsection (c) for an individual bringing an action against a person who is not a state officer or state agency includes the following:
(1) Reinstatement with the same seniority status the individual would have but for the act described in subsection (c).
(2) Two (2) times the amount of back pay that is owed to the individual.
(3) Interest on the back pay that is owed to the individual.
(4) Compensation for any special damages sustained by the individual as a result of the act described in subsection (c), including costs and expenses of litigation and reasonable attorney's fees.
(e) An individual may bring an action against a person who is not a state officer or state agency for the relief provided in this section in a court with jurisdiction.
As added by P.L.51-1985, SEC.1. Amended by P.L.52-2015, SEC.1; P.L.209-2019, SEC.2; P.L.59-2023, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-10. Failure to File Report; Interference With Examiners; Offense; Forfeiture of Office and Alternative

Sec. 10. (a) A public officer or responsible officer of an audited entity who:
(1) fails to make, verify, and file with the state examiner any report required by this chapter;
(2) fails to follow the directions of the state examiner in keeping the accounts of the officer's office;
(3) refuses the state examiner, deputy examiner, field examiner, or private examiner access to the books, accounts, papers, documents, cash drawer, or cash of the officer's office; or
(4) interferes with an examiner in the discharge of the examiner's official duties;
commits a Class B infraction. The court may also order the officer described in this subsection to forfeit the officer's office.
(b) As an alternative to an order to forfeit office under subsection (a), a court in which an action described in subsection (a) is filed may impose a civil penalty that does not exceed five hundred dollars ($500) for each day, beginning on the day that the court imposes the civil penalty and each day thereafter, that the public officer or responsible officer continues to violate an obligation described in subsection (a). The individual is personally liable for a civil penalty imposed on the individual under this section.
(c) The state board of accounts may collect the expenses incurred in carrying out the audit, examination, or engagement from the audited entity of the officer described in this section.
Formerly: Acts 1909, c.55, s.10. As amended by Acts 1978, P.L.2, SEC.507; P.L.3-1986, SEC.12; P.L.157-2020, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-11. Records of Money Collected; Public Inspection

Sec. 11. There shall be kept in the office of each public officer, board, commission, agency, instrumentality, and institution in this state, a record of money collected for the public treasury, the forms and records for which, for each class of offices, shall be devised and formulated by the state board of accounts. Such records as are provided for in this section shall be public records and must be accessible to the public during regular office hours.
Formerly: Acts 1909, c.55, s.11. As amended by Acts 1980, P.L.30, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-12. Repealed

Formerly: Acts 1909, c.55, s.12. As amended by Acts 1978, P.L.2, SEC.508. Repealed by Acts 1980, P.L.30, SEC.19.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-13. Warrants or Checks of State or Municipality; Receipts or Quietus; Correctness of Claims

Sec. 13. Each officer having authority to draw the warrant or check of the state or of any municipality referred to in this chapter in disbursing its funds, or who has authority to execute the receipt or quietus of the state or of such municipality in settlement with public officers or with debtors, before presenting the same for allowance to the board or other authority required to pass upon the same, shall make an examination of all claims as to their form, the authentication thereof as required by law, whether they are based upon contract or statutory authority, and as to their apparent correctness, and upon presenting the same to file therewith his certificate in writing as to such matters in respect to each and all of such claims. Where the authority to pass upon and allow such claim is lodged in such officer, he shall, before drawing a warrant or check therefor, certify to the correctness thereof over his official signature. Before issuing the receipt or quietus of the state or municipality to any debtor or any officer making settlement, he shall examine the report, account or settlement sheet upon which settlement is made, and require of such debtor or officer, or to otherwise secure, all such information, accounts, vouchers or exhibits as shall be necessary to satisfy such officer issuing such receipt or quietus of the correctness of such report, account or settlement sheet, and to certify thereon that he has made such examination and is satisfied as to its correctness, and no such warrant, check, receipt, or quietus shall be issued by any such officer until such certificate shall have been executed and filed with such claim, report, account or settlement sheet. Where it is not practical for the officer to certify to the correctness of each revenue or claim document, the state board of accounts may prescribe other methods of preaudit to be performed before approval by the officer or his employees.
Formerly: Acts 1909, c.55, s.13. As amended by Acts 1980, P.L.30, SEC.10.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-14. Salaries and Traveling Expenses of State Examiner, Deputies, and Assistants

Sec. 14. The salaries and necessary traveling expenses of the state examiner, his deputies, and assistants when engaged in the business of the state shall be paid as otherwise provided by law.
Formerly: Acts 1909, c.55, s.15. As amended by Acts 1980, P.L.30, SEC.11.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-15. Repealed

Formerly: Acts 1909, c.55, s.16; Acts 1967, c.268, s.1. As amended by P.L.3-1986, SEC.13; P.L.49-1995, SEC.6; P.L.157-2020, SEC.7. Repealed by P.L.59-2023, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-16. Definitions

Sec. 16. (a) As used in this article, "municipality" means any county, township, city, town, school corporation, special taxing district, or other political subdivision of Indiana.
(b) As used in this article, "state" means any board, commission, department, division, bureau, committee, agency, governmental subdivision, military body, authority, or other instrumentality of the state, but does not include a municipality.
(c) As used in this article, "public office" means the office of any and every individual who for or on behalf of the state or any municipality or any public hospital holds, receives, disburses, or keeps the accounts of the receipts and disbursements of any public funds.
(d) As used in this article, "public officer" means any individual who holds, receives, disburses, or is required by law to keep any account of public funds or other funds for which the individual is accountable by virtue of the individual's public office.
(e) As used in this article, "entity" means any provider of goods, services, or other benefits that is:
(1) maintained in whole or in part at public expense; or
(2) supported in whole or in part by appropriations or public funds or by taxation.
The term does not include the state or a municipality (as defined in this section).
(f) As used in this article, a "public hospital" means either of the following:
(1) An institution licensed under IC 16-21 and which is owned by the state or an agency of the state or one which is a municipal corporation. A hospital is a municipal corporation if its governing board members are appointed by elected officials of a municipality.
(2) A state institution (as defined in IC 12-7-2-184).
(g) As used in this article, "audit committee" refers to the audit and financial reporting subcommittee of the legislative council established by IC 2-5-1.1-6.3.
(h) As used in this article, "audited entity" has the meaning set forth in IC 2-5-1.1-6.3.
(i) As used in this article, "development authority" has the meaning set forth in the following:
(1) IC 36-7.5-1-8.
(2) IC 36-7.6-1-8.
(j) As used in this article, "responsible officer of an audited entity" refers to the chief executive officer or another individual who has executive decision making authority for the audited entity with respect to a compliance obligation prescribed by or established under this article or another law.
Formerly: Acts 1909, c.55, s.17. As amended by Acts 1980, P.L.30, SEC.12; P.L.3-1986, SEC.14; P.L.2-1992, SEC.52; P.L.2-1993, SEC.44; P.L.104-2014, SEC.3; P.L.181-2015, SEC.13; P.L.257-2019, SEC.5; P.L.157-2020, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-18. Examinations Without Notice; Disclosure; Offense

Sec. 18. All examinations under this chapter may be made without notice to the audited entities or officers whose accounts are to be examined, and without notice to any clerk, deputy, employee, or other person employed in or connected with the office or the business of such an audited entity or officer. A person who recklessly communicates knowledge of any proposed examination of any public account:
(1) that the board has determined to make without notice under this section; and
(2) to the officer in charge of the account or to any other unauthorized person;
commits a Class B misdemeanor.
Formerly: Acts 1909, c.55, s.19. As amended by Acts 1978, P.L.2, SEC.509; P.L.181-2015, SEC.14; P.L.157-2020, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 11. Accounting for Public Funds › Chapter 1. State Board of Accounts Created › 5-11-1-19. Copyrighting Uniform Bookkeeping System; Purchase of Public Office Supplies

Sec. 19. No system for uniform bookkeeping or any book, record, or form which may be adopted after April 5, 1909, shall be copyrighted unless it shall be deemed expedient by the governor that a copyright be procured in the name of the state, and if any such copyright be procured, the acceptance by the state or by any municipality of any bid for printed supplies of any sort shall operate as a license from the state to the successful bidder to manufacture any such copyrighted books, records, or forms included in such bid for public use without payment of royalty. All public books, records, and stationery used in the offices for which examination is provided in this chapter shall be purchased by the state, municipality, or institution after the manner provided by law.
Formerly: Acts 1909, c.55, s.20. As amended by P.L.25-1986, SEC.36.