§ 36-10-8-11 — Handling and expenditure of funds; treasurer; controller; reports; audits

Indiana § 36-10-8-11

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 10: RECREATION, CULTURE, AND COMMUNITY
• Ch. 8: Capital Improvement Boards in Certain Counties

Text

(a) The treasurer of the board is the official
custodian of all funds and assets of the board and is responsible for
their safeguarding and accounting. The treasurer shall give bond for the
faithful performance and discharge of all duties required of the
treasurer by law in the amount and with surety and other conditions
that may be prescribed and approved by the board. All funds and assets
in the capital improvement fund and the capital improvement bond
fund created by this chapter and all other funds, assets, and tax
revenues held, collected, or received by the county treasurer for the use
of the board shall be promptly remitted and paid over by the county
treasurer to the treasurer of the board, who shall issue receipts for them.
(b) The treasurer of the board shall deposit all money coming into
the treasurer of the board's hands as required by this chapter and IC 6-7-1-30.1, and in accordance with general statutes relating to the
deposit of public funds. Money so deposited may be invested and
reinvested by the treasurer in accordance with IC 5-13 and in securities
that the board specifically directs. All interest and other income earned
on investments becomes a part of the particular fund from which the
money was invested. All funds invested and fully safeguarded and
secured as provided in IC 5-13-9 are exempt from assessments under
IC 5-13-12.
(c) The board shall appoint a controller to act as the auditor and
assistant treasurer of the board. The controller shall serve as the official
custodian of all books of account and other financial records of the
board and has the same powers and duties as the treasurer of the board
or the lesser powers and duties that the board prescribes. The
controller, and any other employee or member of the board authorized
to receive, collect, or expend money, shall give bond for the faithful
performance and discharge of all duties required of the controller,
employee, or member in the amount and with surety and other
conditions that may be prescribed and approved by the board. The
controller shall keep an accurate account of all money due the board
and of all money received, invested, and disbursed in accordance with
generally recognized governmental accounting principles and
procedure. All accounting forms and records shall be prescribed or
approved by the state board of accounts.
(d) The controller shall issue all warrants for the payment of money
from the funds of the board in accordance with procedures prescribed
by the board, but a warrant may not be issued for the payment of a
claim until an itemized and verified statement of the claim has been
filed with the controller, who may require evidence that all amounts
claimed are justly due. All warrants shall be countersigned by the
treasurer of the board or by the executive manager. Payroll and similar
warrants may be executed with facsimile signatures.
(e) If there are bonds outstanding issued under this chapter, the
controller shall deposit with the paying agent or officer within a
reasonable period before the date that any principal or interest becomes
due sufficient money for the payment of the principal and interest on
the due dates.
(f) At least annually the controller shall submit to the board a report
of the controller's accounts exhibiting the revenues, receipts, and
disbursements and the sources from which the revenues and receipts
were derived and the purpose and manner in which they were
disbursed. The board may require that the report be prepared by an
independent certified public accountant designated by the board. The
handling and expenditure of funds is subject to audit and supervision
by the state board of accounts.
As added by Acts 1982, P.L.218, SEC.3. Amended by
P.L.19-1987, SEC.56; P.L.127-2017, SEC.388.