§ 20-26-4-1 — Organization; treasurer; duties; electronic funds transfer; executive secretary

Indiana § 20-26-4-1

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 26: SCHOOL CORPORATIONS: GENERAL
• Ch. 4: Organization and Operation of Governing Body

Text

(a) As used in this section, "electronic funds
transfer" means a transfer of funds, other than a transaction originated
by check, draft, or similar paper instrument, that is initiated through an
electronic terminal, telephone, or computer or magnetic tape to order,
instruct, or authorize a financial institution to debit or credit an
account.
(b) The governing body of each school corporation shall organize by
electing:
(1) a president;
(2) a vice president; and
(3) a secretary;
each of whom is a different member, not more than thirty (30) days
after the commencement date of the members' terms of office.
(c) A governing body shall, at the time that officers are elected
under subsection (b), appoint a treasurer of the governing body and of
the school corporation who is a person, other than the superintendent
of schools, who is not a member of the governing body. The treasurer
may, with the approval of the governing body, appoint a deputy who
must be a person, other than the superintendent of schools, who is not
a member of the governing body and who has the same powers and
duties as the treasurer, or lesser duties as provided by the governing
body by rule.
(d) The treasurer is the official custodian of all funds of the school
corporation and is responsible for the proper safeguarding and
accounting for the funds. The treasurer shall:
(1) issue a receipt for money received by the treasurer;
(2) deposit money described in subdivision (1) in accordance with
the laws governing the deposit of public funds; and
(3) issue all warrants in payment of expenses lawfully incurred on
behalf of the school corporation. However, except as otherwise
provided by law, warrants described in this subdivision must be
issued only after proper allowance or approval by the governing
body. The governing body may not require an allowance or
approval for amounts lawfully due in payment of indebtedness or
payments due the state, the United States government, or agencies
and instrumentalities of the state or the United States government.
A verification, other than a properly itemized invoice, may not be
required for any claim. A claim is sufficient as to form if the bill or
statement for the claim has printed or stamped on the face of the bill or
statement a verification of the bill or statement in language approved
by the state board of accounts.
(e) Notwithstanding subsection (d), a treasurer may transact school
corporation financial business with a financial institution or a public
retirement fund through the use of electronic funds transfer. The
treasurer must provide adequate documentation to the governing body
of transfers made under this subsection. This subsection applies only
to agreements for joint investment of money under IC 5-13-9 and to
payments to the Indiana public retirement system for:
(1) the Indiana state teachers' retirement fund; or
(2) the public employees' retirement fund;
from participating employers.
(f) Except as provided in IC 5-11, a treasurer is not personally liable
for an act or omission occurring in connection with the performance of
the duties set forth in this section, unless the act or omission constitutes
gross negligence or an intentional disregard of the treasurer's duties.
(g) A governing body may establish the position of executive
secretary to the governing body. The executive secretary:
(1) must be an employee of the school corporation;
(2) may not be a member of the governing body; and
(3) must be appointed by the governing body upon the
recommendation of the superintendent of the school corporation.
The governing body shall determine the duties of the executive
secretary, which may include all or part of the duties of the secretary of
the board.
[Pre-2005 Elementary and Secondary Education
Recodification Citation: 20-5-3-1.]

Legislative History

As added by P.L.1-2005, SEC.10. Amended by P.L.35-2012, SEC.102; P.L.233-2015, SEC.92; P.L.58-2023, SEC.6; P.L.214-2025, SEC.77.