CHAPTER 2. THE TREASURER OF STATE
IC 4-8.1-2
Chapter 2. The Treasurer of State
IC 4-8.1-2-1
Safekeeping and investment of money and securities
Sec. 1. The treasurer of state is responsible for the safekeepingand investment of moneys and securities paid into the state treasury.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-2
Receipt, accounting for, and payment of funds
Sec. 2. The treasurer of state shall receive, account for, and payover all moneys which are required by law to be paid into the statetreasury.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-3
Delivery of money and securities to successor
Sec. 3. The treasurer of state shall deliver to his successor inoffice all moneys and securities and all effects of his office.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-4
Commencement of term; bond of treasurer and deputies
Sec. 4. (a) The individual elected as treasurer of state shall takeoffice on January 1 following the individual's election.
(b) The treasurer of state and the treasurer's deputy treasurersshall each give bond in an amount determined by the auditor of stateand the governor. The bond shall be conditioned on the faithfulperformance of the duties as treasurer of state and deputy treasurer,respectively. The bond must be procured from a surety companyauthorized by law to transact business in this state.
As added by Acts 1979, P.L.22, SEC.1. Amended by P.L.115-2008,SEC.1.
IC 4-8.1-2-5
Use of funds as provided by law; unlawful receipt of gratuities
Sec. 5. (a) The treasurer of state may not use or permit any otherperson to use the moneys or property received by him or paid into thestate treasury, except as permitted by law.
(b) The treasurer of state may not receive for his own use anyinterest, premium, gratuity, or bonus from the disposition of, orarising out of, any money or property belonging to the state, to anycounty of the state, to any state or county fund, or to any otherpolitical subdivision.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-6
Report of collections due state; acknowledgment of receipt bytreasurer; duties of auditor Sec. 6. Before moneys may be deposited in the state treasury, thetreasurer of state must receive from the person or agency making thedeposit a report of collections due the state treasury, describing thesource of the moneys and the fund and account to which they are tobe credited. The treasurer of state shall acknowledge receipt of themoneys deposited in the state treasury and shall send the original ofthe report of collections to the auditor of state, who shall, afterpreaudit, prepare his accounting forms from the report. The auditorof state shall give the person or agency depositing the moneys theappropriate auditor's form. The treasurer of state and the auditor ofstate shall reconcile collections daily.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-7
Payment of money upon warrant of auditor; transfer of funds
Sec. 7. (a) Except as otherwise specified in this section, thetreasurer of state may not pay any money out of the state treasuryexcept upon warrant of the auditor of state based on an approvedclaim.
(b) The treasurer of state may transfer money invested or ondeposit in a public depository to any deposit account in the same ora different public depository. A transfer between deposit accountsmay be made by warrant, check, or electronic funds transfer.
(c) If a political subdivision (as defined in IC 36-1-2-13) elects toreceive distributions from the state or if a state employee elects tohave wages deposited directly in a financial institution underIC 4-15-5.9-2 by means of an electronic transfer of funds, thetreasurer of state shall have the funds transferred electronically.
(d) Notwithstanding any other law, if:
(1) a vendor or claimant requests that one (1) or more paymentsbe made by means of an electronic funds transfer; and
(2) the auditor of state and the treasurer of state agree thatpayment by electronic funds transfer is advantageous to thestate;
the auditor of state may elect to authorize an electronic funds transfermethod of payment. If authorized by the auditor of state, the treasurerof state may pay money from the state treasury by electronic fundstransfer.
(e) With regard to electronic funds transfer, a record of eachtransfer authorization shall be made by the treasurer of stateimmediately following the authorization and shall be made in a formwhich conforms to accounting systems approved by the state boardof accounts.
(f) As used in this section, "electronic funds transfer" means anytransfer of funds, other than a transaction originated by check, draft,or similar paper instrument, that is initiated through an electronicterminal, telephone, or computer or magnetic tape for the purpose ofordering, instructing, or authorizing a financial institution to debit orcredit an account.
As added by Acts 1979, P.L.22, SEC.1. Amended by P.L.13-1984,
SEC.1; P.L.23-1985, SEC.1; P.L.32-1995, SEC.3.
IC 4-8.1-2-8
Limitations on drawing warrants or authorizing electronic fundstransfer; temporary overdraft
Sec. 8. (a) Except as provided in subsection (b), the auditor maynot draw a warrant upon the treasurer of state or authorize anelectronic funds transfer from the state treasury unless there is moneyin the state treasury belonging to the fund upon which the warrant isdrawn to pay the warrant and unless the payment would be inconformity with appropriations made by law or other properdisbursing authority. The auditor of state shall preserve the approvedclaim on which the warrant or electronic funds transfer is based forthe period required by law.
(b) The auditor of state may temporarily overdraft a fund's cashaccount if:
(1) as a condition to receiving federal aid, state warrants orchecks must have been issued, cashed, or presented to a bank orthe treasurer of state before the federal money can be drawn anddeposited in the state treasury;
(2) appropriate estimated revenue or federal aid receivableentries are recorded; and
(3) a timely federal reimbursement has been requested.
As added by Acts 1979, P.L.22, SEC.1. Amended by P.L.28-1983,SEC.1; P.L.32-1995, SEC.4.
IC 4-8.1-2-9
Sufficiency of funds for payment of warrant
Sec. 9. When presented a warrant, the treasurer of state shall paythe warrant if there is sufficient money in the state treasurybelonging to the fund group upon which the warrant is drawn; ifthere is insufficient money in the fund group, the treasurer of statemay not pay the warrant. When a warrant is paid, the treasurer ofstate shall take a receipt for it on the back of the warrant, cancel thewarrant, and register and preserve the warrant for the period requiredby law.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-10
Double entry records; detail
Sec. 10. The treasurer of state shall keep double entry records ofwarrants paid, receipts, cash on hand, and investments for which heis accountable by law in sufficient detail to fulfill the requirementsof the law and the duty of his office to safeguard the state treasury.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-11
Money deposited by public debtors for use of state
Sec. 11. All state moneys deposited by any public debtor in a bankfor the use of the state, except when otherwise directed by law, shall
be deposited to the credit of the treasurer of state and subject to hisorder.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-12
Rental of safety deposit boxes or vaults; duties of depositories thataccept securities
Sec. 12. (a) The treasurer of state or his agent may rent safetydeposit boxes or vaults of one (1) or more banks or trust companieslocated in the state and keep in them securities in his custody, or givethe securities to a bank, trust company, or other depository to hold ascustodian under IC 5-13.
(b) A bank, trust company, or other depository which acceptssecurities as custodian shall:
(1) clip coupons;
(2) surrender matured issues for collection; and
(3) receive the proceeds of all collections and remit them to thetreasurer of state.
As added by Acts 1979, P.L.22, SEC.1. Amended by P.L.19-1987,SEC.2.
IC 4-8.1-2-13
Embezzlement or breach of trust
Sec. 13. Any embezzlement or breach of trust on the part of thetreasurer of state shall be immediately reported to the governor bythe person discovering the embezzlement or breach of trust. Thegovernor and the auditor shall make a careful examination to see ifthe embezzlement or breach of trust has occurred, and if it has, causethe treasurer of state to be arrested. After the arrest of the treasurerof state the governor shall appoint a deputy treasurer of state, whoshall qualify and give bond as required for the treasurer of state andwho shall be given exclusive control of the state treasury. The deputytreasurer has the powers and duties of and is subject to the liabilitiesof the treasurer of state until the treasurer of state is acquitted or hissuccessor is elected and qualified.
As added by Acts 1979, P.L.22, SEC.1.
IC 4-8.1-2-14
Annual report on general fund and funds managed by treasurer;distribution of report
Sec. 14. The treasurer of state shall prepare a report annuallybefore October 15 that summarizes, for the fiscal year that ended onthe preceding June 30, the following information for the general fundand all other funds managed by the treasurer of state:
(1) Statutory and administrative investment policies.
(2) Average daily amounts of cash and investments.
(3) Rates of return.
(4) Earnings.
(5) Portfolio composition.
(6) Other information considered relevant by the treasurer of
state.
Before November 1 of each year, the treasurer shall provide a copyof the report to the governor, the lieutenant governor, and the budgetdirector. In addition, the treasurer of state shall provide the report inan electronic format under IC 5-14-6 to the legislative council andthe legislative services agency for the use of the members of thehouse of representatives and the senate.
As added by P.L.13-1986, SEC.1. Amended by P.L.28-2004, SEC.32.
IC 4-8.1-2-15
Repealed
(Repealed by P.L.176-1999, SEC.133 and P.L.202-1999, SEC.27.)