§ 36-1-8-5 — Funds raised by general or special tax levy; disposition of unused balance; transfers to local rainy day fund

Indiana § 36-1-8-5

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 1: GENERAL PROVISIONS
• Ch. 8: Miscellaneous Fiscal and Administrative Provisions

Text

(a) This section applies to all funds raised by a
general or special tax levy on all the taxable property of a political
subdivision.
(b) Whenever the purposes of a tax levy have been fulfilled and an
unused and unencumbered balance remains in the fund, the fiscal body
of the political subdivision shall order the balance of that fund to be
transferred as follows, unless a statute provides that it be transferred
otherwise:
(1) Funds of a county, to the general fund or rainy day fund of the
county, as provided in section 5.1 of this chapter.
(2) Funds of a municipality, to the general fund or rainy day fund
of the municipality, as provided in section 5.1 of this chapter.
(3) Funds of a township for redemption of township assistance
obligations, to the township assistance fund of the township or
rainy day fund of the township, as provided in section 5.1 of this
chapter.
(4) Funds of any other political subdivision, to the general fund or
rainy day fund of the political subdivision, as provided in section
5.1 of this chapter. However, if the political subdivision is
dissolved or does not have a general fund or rainy day fund and
is not a school corporation, then to the general fund of each of the
units located in the political subdivision in the same proportion
that the assessed valuation of the unit bears to the total assessed
valuation of the political subdivision. In the case of a school
corporation, the school corporation may transfer the amount
received to any of its funds.
(c) Whenever an unused and unencumbered balance remains in the
civil township fund of a township and a current tax levy for the fund is
not needed, the township fiscal body may order any part of the balance
of that fund transferred to the debt service fund of the school
corporation located in or partly in the township. However, if more than
one (1) school corporation is located in or partly in the township, then
any sum transferred shall be transferred to the debt service fund of each
of those school corporations in the same proportion that the part of the
assessed valuation of the school corporation in the township bears to
the total assessed valuation of the township.
(d) Whenever any township has collected any fund for the special
or specific purpose of erecting or constructing a school building and
the township trustee of the township decides to abandon the proposed
work of erecting or constructing the school building, the township
trustee of the township shall transfer the fund collected for the special
or specific purpose to the township fund of the township, upon the
order of the township board to make the transfer. It is lawful thereafter
to use the funds for any purpose for which the township funds of the
township may be used.
(e) Transfers to a political subdivision's rainy day fund may be made
at any time during the political subdivision's fiscal year.
[Pre-Local Government Recodification Citations: 17-4-33-1;
19-11-1-1; 19-11-1-2; 19-11-1-4.]
As added by Acts 1980, P.L.211, SEC.1. Amended by
P.L.251-2001, SEC.1; P.L.173-2003, SEC.18; P.L.73-2005, SEC.171;
P.L.169-2006, SEC.46; P.L.2-2006, SEC.185; P.L.1-2007, SEC.238;
P.L.233-2015, SEC.328; P.L.244-2017, SEC.124.