IC 20-39-4
Chapter 4. Audits; Reports Related to Trust Funds
IC 20-39-4-1 Application; county common school fund; congressional township
school fund
Sec. 1. This chapter applies to the following funds:
(1) A county common school fund held in trust by a county
under IC 20-42-1.
(2) A congressional township school fund held in trust by a
county under IC 20-42-2. As added by P.L.2-2006, SEC.162.
IC 20-39-4-2 Examination of records; state board of accounts
Sec. 2. The state board of accounts shall examine the records and
affairs of the school funds held in trust by the counties. If the
examination discloses a violation of law, the state examiner shall
order the county auditor or other public official charged with the
performance of any duty to comply with the law. If the county
auditor or other public official fails to comply with the state
examiner's order within a reasonable time, the state examiner shall
certify to the prosecuting attorney of the county a copy of the report
of examination and of the order issued for proper proceeding to
enforce the law. As added by P.L.2-2006, SEC.162.
IC 20-39-4-3 Annual report of county auditor and county treasurer
Sec. 3. Before May 1 of each calendar year, each county auditor
and county treasurer shall prepare a written report and present the
report to the board of county commissioners at the May meeting of
the board. The report must concern the school funds held in trust by
the county. The following information must be included concerning
the county common school fund and the congressional township
school fund for the previous calendar year:
(1) The amount in each fund.
(2) Any additions to the funds, including the sources of the
additional funds.
(3) The financial condition of the funds, including information
concerning the amount safely invested, unsafely invested, and
uninvested in the funds, and any loss to the funds.
(4) The amount of interest collected on the funds.
(5) Any amount due and unpaid to the funds. As added by P.L.2-2006, SEC.162.
IC 20-39-4-4 Examination of report; county commissioners
Sec. 4. (a) At the May meeting the county commissioners shall, in
the presence of the county auditor and county treasurer, do the
following:
(1) Examine the:
(A) reports prepared under section 3 of this chapter;
(B) accounts and proceedings of the officers in relation to
the funds listed in section 1 of this chapter; and
(C) revenue derived from the funds listed in section 1 of this
chapter.
(2) Compare the reports with the cash, notes, mortgages,
records, and books of the officers to determine the amount in
the funds and the safety of the funds.
(b) The county commissioners may do whatever is necessary to
secure the preservation and prompt payment of the interest on the
funds listed in section 1 of this chapter and make up any losses to the
funds that have accrued or may accrue. As added by P.L.2-2006, SEC.162.
IC 20-39-4-5 Annual report; county commissioners
Sec. 5. (a) Each board of county commissioners, at the May
meeting described in section 4 of this chapter, shall prepare a written
report that includes the following information for the previous year:
(1) The amount in the funds at the close of the year.
(2) The amount added from sale of land.
(3) The number of acres of unsold congressional township
school lands and the approximate value of the lands.
(4) The amount added from fines and forfeitures.
(5) The amount added by the commissioners of the debt service
fund.
(6) The amount added from all other sources.
(7) The total amount in the funds.
(8) The amount refunded.
(9) The amount reloaned.
(10) The amount safely invested.
(11) The amount unsafely invested.
(12) The amount uninvested.
(13) The amount of any fund loss.
(14) The amount of interest collected.
(15) The amount of interest delinquent.
(b) The information in the report required by subsection (a) must
distinguish between the:
(1) congressional township school fund; and
(2) county common school fund.
In its report of the interest or revenue derived from the funds, the
board of county commissioners shall observe the same distinction. As added by P.L.2-2006, SEC.162.
IC 20-39-4-6 Record of report; distribution of copies
Sec. 6. The report prepared under section 5 of this chapter must
be entered on the records of the board of county commissioners.
Copies of the report must be:
(1) signed by the members of the board of county
commissioners, the county auditor, and the county treasurer;
and
(2) sent to the:
(A) auditor of state; and
(B) state superintendent. As added by P.L.2-2006, SEC.162.
IC 20-39-4
Chapter 4. Audits; Reports Related to Trust Funds
IC 20-39-4-1 Application; county common school fund; congressional township
school fund
Sec. 1. This chapter applies to the following funds:
(1) A county common school fund held in trust by a county
under IC 20-42-1.
(2) A congressional township school fund held in trust by a
county under IC 20-42-2. As added by P.L.2-2006, SEC.162.
IC 20-39-4-2 Examination of records; state board of accounts
Sec. 2. The state board of accounts shall examine the records and
affairs of the school funds held in trust by the counties. If the
examination discloses a violation of law, the state examiner shall
order the county auditor or other public official charged with the
performance of any duty to comply with the law. If the county
auditor or other public official fails to comply with the state
examiner's order within a reasonable time, the state examiner shall
certify to the prosecuting attorney of the county a copy of the report
of examination and of the order issued for proper proceeding to
enforce the law. As added by P.L.2-2006, SEC.162.
IC 20-39-4-3 Annual report of county auditor and county treasurer
Sec. 3. Before May 1 of each calendar year, each county auditor
and county treasurer shall prepare a written report and present the
report to the board of county commissioners at the May meeting of
the board. The report must concern the school funds held in trust by
the county. The following information must be included concerning
the county common school fund and the congressional township
school fund for the previous calendar year:
(1) The amount in each fund.
(2) Any additions to the funds, including the sources of the
additional funds.
(3) The financial condition of the funds, including information
concerning the amount safely invested, unsafely invested, and
uninvested in the funds, and any loss to the funds.
(4) The amount of interest collected on the funds.
(5) Any amount due and unpaid to the funds. As added by P.L.2-2006, SEC.162.
IC 20-39-4-4 Examination of report; county commissioners
Sec. 4. (a) At the May meeting the county commissioners shall, in
the presence of the county auditor and county treasurer, do the
following:
(1) Examine the:
(A) reports prepared under section 3 of this chapter;
(B) accounts and proceedings of the officers in relation to
the funds listed in section 1 of this chapter; and
(C) revenue derived from the funds listed in section 1 of this
chapter.
(2) Compare the reports with the cash, notes, mortgages,
records, and books of the officers to determine the amount in
the funds and the safety of the funds.
(b) The county commissioners may do whatever is necessary to
secure the preservation and prompt payment of the interest on the
funds listed in section 1 of this chapter and make up any losses to the
funds that have accrued or may accrue. As added by P.L.2-2006, SEC.162.
IC 20-39-4-5 Annual report; county commissioners
Sec. 5. (a) Each board of county commissioners, at the May
meeting described in section 4 of this chapter, shall prepare a written
report that includes the following information for the previous year:
(1) The amount in the funds at the close of the year.
(2) The amount added from sale of land.
(3) The number of acres of unsold congressional township
school lands and the approximate value of the lands.
(4) The amount added from fines and forfeitures.
(5) The amount added by the commissioners of the debt service
fund.
(6) The amount added from all other sources.
(7) The total amount in the funds.
(8) The amount refunded.
(9) The amount reloaned.
(10) The amount safely invested.
(11) The amount unsafely invested.
(12) The amount uninvested.
(13) The amount of any fund loss.
(14) The amount of interest collected.
(15) The amount of interest delinquent.
(b) The information in the report required by subsection (a) must
distinguish between the:
(1) congressional township school fund; and
(2) county common school fund.
In its report of the interest or revenue derived from the funds, the
board of county commissioners shall observe the same distinction. As added by P.L.2-2006, SEC.162.
IC 20-39-4-6 Record of report; distribution of copies
Sec. 6. The report prepared under section 5 of this chapter must
be entered on the records of the board of county commissioners.
Copies of the report must be:
(1) signed by the members of the board of county
commissioners, the county auditor, and the county treasurer;
and
(2) sent to the:
(A) auditor of state; and
(B) state superintendent. As added by P.L.2-2006, SEC.162.
IC 20-39-4
Chapter 4. Audits; Reports Related to Trust Funds
IC 20-39-4-1 Application; county common school fund; congressional township
school fund
Sec. 1. This chapter applies to the following funds:
(1) A county common school fund held in trust by a county
under IC 20-42-1.
(2) A congressional township school fund held in trust by a
county under IC 20-42-2. As added by P.L.2-2006, SEC.162.
IC 20-39-4-2 Examination of records; state board of accounts
Sec. 2. The state board of accounts shall examine the records and
affairs of the school funds held in trust by the counties. If the
examination discloses a violation of law, the state examiner shall
order the county auditor or other public official charged with the
performance of any duty to comply with the law. If the county
auditor or other public official fails to comply with the state
examiner's order within a reasonable time, the state examiner shall
certify to the prosecuting attorney of the county a copy of the report
of examination and of the order issued for proper proceeding to
enforce the law. As added by P.L.2-2006, SEC.162.
IC 20-39-4-3 Annual report of county auditor and county treasurer
Sec. 3. Before May 1 of each calendar year, each county auditor
and county treasurer shall prepare a written report and present the
report to the board of county commissioners at the May meeting of
the board. The report must concern the school funds held in trust by
the county. The following information must be included concerning
the county common school fund and the congressional township
school fund for the previous calendar year:
(1) The amount in each fund.
(2) Any additions to the funds, including the sources of the
additional funds.
(3) The financial condition of the funds, including information
concerning the amount safely invested, unsafely invested, and
uninvested in the funds, and any loss to the funds.
(4) The amount of interest collected on the funds.
(5) Any amount due and unpaid to the funds. As added by P.L.2-2006, SEC.162.
IC 20-39-4-4 Examination of report; county commissioners
Sec. 4. (a) At the May meeting the county commissioners shall, in
the presence of the county auditor and county treasurer, do the
following:
(1) Examine the:
(A) reports prepared under section 3 of this chapter;
(B) accounts and proceedings of the officers in relation to
the funds listed in section 1 of this chapter; and
(C) revenue derived from the funds listed in section 1 of this
chapter.
(2) Compare the reports with the cash, notes, mortgages,
records, and books of the officers to determine the amount in
the funds and the safety of the funds.
(b) The county commissioners may do whatever is necessary to
secure the preservation and prompt payment of the interest on the
funds listed in section 1 of this chapter and make up any losses to the
funds that have accrued or may accrue. As added by P.L.2-2006, SEC.162.
IC 20-39-4-5 Annual report; county commissioners
Sec. 5. (a) Each board of county commissioners, at the May
meeting described in section 4 of this chapter, shall prepare a written
report that includes the following information for the previous year:
(1) The amount in the funds at the close of the year.
(2) The amount added from sale of land.
(3) The number of acres of unsold congressional township
school lands and the approximate value of the lands.
(4) The amount added from fines and forfeitures.
(5) The amount added by the commissioners of the debt service
fund.
(6) The amount added from all other sources.
(7) The total amount in the funds.
(8) The amount refunded.
(9) The amount reloaned.
(10) The amount safely invested.
(11) The amount unsafely invested.
(12) The amount uninvested.
(13) The amount of any fund loss.
(14) The amount of interest collected.
(15) The amount of interest delinquent.
(b) The information in the report required by subsection (a) must
distinguish between the:
(1) congressional township school fund; and
(2) county common school fund.
In its report of the interest or revenue derived from the funds, the
board of county commissioners shall observe the same distinction. As added by P.L.2-2006, SEC.162.
IC 20-39-4-6 Record of report; distribution of copies
Sec. 6. The report prepared under section 5 of this chapter must
be entered on the records of the board of county commissioners.
Copies of the report must be:
(1) signed by the members of the board of county
commissioners, the county auditor, and the county treasurer;
and
(2) sent to the:
(A) auditor of state; and
(B) state superintendent. As added by P.L.2-2006, SEC.162.
