CHAPTER 1. THE STATE BOARD OF FINANCE
IC 4-9.1
ARTICLE 9.1. STATE BOARD OF FINANCE
IC 4-9.1-1
Chapter 1. The State Board of Finance
IC 4-9.1-1-1
Composition; advisory supervision of safekeeping of funds
Sec. 1. The governor, the auditor of state, and the treasurer ofstate constitute the state board of finance, referred to as the "board"in this chapter. The board has advisory supervision of thesafekeeping of all funds coming into the state treasury and all otherfunds belonging to the state coming into the possession of any stateofficer or agency.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-2
Organization; officers
Sec. 2. The board shall organize by electing from its membershipa president. The auditor of state is the secretary of the board.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-3
Convening of board; recording, approval, signing, and attesting ofproceedings
Sec. 3. (a) The president shall convene the board wheneverrequested to do so by a member or whenever necessary to theperformance of its duties.
(b) The proceedings of the board shall be recorded and must beapproved and signed by the president and attested by the secretary.
(c) The sessions of the board are public. Its records shall be keptin the office of the auditor of state and be subject to publicinspection.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-4
Supervision of fiscal affairs and public funds; deposits
Sec. 4. The board shall supervise the fiscal affairs of the state andall public funds of the state. The board shall arrange for theconvenient deposit of all public funds of the state pursuant toIC 5-13.
As added by Acts 1979, P.L.22, SEC.2. Amended by P.L.19-1987,SEC.3.
IC 4-9.1-1-5
Adoption of rules
Sec. 5. The board may adopt such rules concerning thesafekeeping and deposit of public funds of this state as it considersnecessary or advisable to accomplish the purposes of this chapter.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-6
Suits by and against board
Sec. 6. The board may sue and be sued in its name.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-7
Transfer of money
Sec. 7. (a) The board may transfer money between state funds,and the board may transfer money between appropriations for anyboard, department, commission, office, or benevolent or penalinstitution of the state. After the transfer is made the money of thefund or appropriation transferred is not available to the fund or theboard, department, commission, office, or benevolent or penalinstitution from which it was transferred.
(b) In addition to a transfer under subsection (a), the board maytransfer money from an appropriation for any board, department,commission, office, or benevolent or penal institution of the state tothe Indiana economic development corporation.
(c) An order by the board to make a transfer under this section issufficient authority for the making of appropriate entries showing thetransfer on the books of the auditor of state and treasurer of state.
(d) The authority given the board under this section to maketransfers does not apply to trust funds. For the purposes of thissection, "trust fund" means a fund which by the constitution or bystatute has been designated as a trust fund or a fund which has beendetermined by the board to be a trust fund.
As added by Acts 1979, P.L.22, SEC.2. Amended by P.L.246-2005,SEC.39.
IC 4-9.1-1-8
Loans to meet casual deficits in revenue; term; evidence; levy ofspecial tax
Sec. 8. For the purpose of meeting casual deficits in the staterevenue, the board may negotiate such loans as may be necessary tomeet the demands of the state. The loan may not be made for a longerperiod than four (4) years after the end of the fiscal year in which theloan is made. To evidence the loan, the board may executecertificates of indebtedness or promissory notes, which certificatesor notes must recite that they are issued to meet casual deficits in thestate revenue.
If there are not sufficient funds coming into the general fund ofthe state to pay the certificates or notes when due, the board may,notwithstanding IC 6-1.1-18-2, levy a tax on all the taxable propertyof the state, sufficient to pay the amount of the indebtedness.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-9
Investment of funds; temporary loans
Sec. 9. If at any time there are more than sufficient moneys in atrust fund, as determined in section 7 of this chapter, to meet the
immediate requirements of the trust fund, the moneys may beinvested in the certificates or notes issued under section 8 of thischapter, on the condition that any of the moneys so invested shall bereturned to the fund from which received when needed to meet thedemands of the fund. To meet the demands of the fund, the boardmay make temporary loans as authorized in section 8 of this chapter.
As added by Acts 1979, P.L.22, SEC.2.
IC 4-9.1-1-10
Repealed
(Repealed by P.L.6-1997, SEC.239.)