IC 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.
IC 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.
IC 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.
IC 5-13-7-4
Repealed
(Repealed by P.L.10-1997, SEC.37.)
IC 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.
IC 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.
(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.
IC 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.
IC 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.
IC 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.
IC 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.
IC 5-13-7-4
Repealed
(Repealed by P.L.10-1997, SEC.37.)
IC 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.
IC 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.
(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.
IC 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.
IC 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.
IC 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.
IC 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.
IC 5-13-7-4
Repealed
(Repealed by P.L.10-1997, SEC.37.)
IC 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.
IC 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.
(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.
IC 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.
