§ 20-41-1-4 — Forms

Indiana § 20-41-1-4

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 41: EXTRACURRICULAR FUNDS AND ACCOUNTS
• Ch. 1: Accounting for School Functions; Extracurricular

Text

(a) All forms and records for keeping the
accounts of the extracurricular activities in school corporations shall be
prescribed or approved by the state board of accounts. The records and
affairs of the extracurricular activities may be examined by the state
board of accounts when the state examiner determines an examination
is necessary. The forms prescribed or approved for keeping these
accounts must achieve a simplified system of bookkeeping and shall be
paid for, along with the bond required in this chapter, from the
education fund or operations fund in accordance with the categories of
expenditures established under IC 20-42.5-3.
(b) The funds of all accounts of any organization, class, or activity
shall be accounted separately from all others. Funds may not be
transferred from the accounts of any organization, class, or activity
except by a majority vote of its members, if any, and by the approval
of the principal, sponsor, and treasurer of the organization, class, or
activity. However, in the case of athletic funds:
(1) approval of the transfer must be made by the athletic director,
who is regarded as the sponsor; and
(2) participating students are not considered members.
All expenditures of the funds are subject to review by the governing
body of the school corporation.
[Pre-2006 Recodification Citation: 20-26-6-7.]

Legislative History

As added by P.L.2-2006, SEC.164. Amended by P.L.238-2019, SEC.17.