2016 Indiana Code
TITLE 5. STATE AND LOCAL ADMINISTRATION
ARTICLE 13. INVESTMENT OF PUBLIC FUNDS
CHAPTER 5. GENERAL PROVISIONS
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IC 5-13-5
Chapter 5. General Provisions
IC 5-13-5-0.3
P.L.19-1987 restatement of law affecting public deposit insurance
fund and the board for depositories
Sec. 0.3. (a) P.L.19-1987 is intended to restate the law affecting
the public deposit insurance fund and the board for depositories. The
substantive operation of the public deposit insurance fund and the
board for depositories, established under IC 5-12-1-19.1 (before its
repeal) continues uninterrupted under IC 5-13-12, as added by
P.L.19-1987.
(b) P.L.19-1987 does not affect rights or liabilities of the public
deposit insurance fund and board for depositories accrued before
May 6, 1987.
As added by P.L.220-2011, SEC.92.
IC 5-13-5-1
Cashbook; duties of public officers; public inspection
Sec. 1. (a) Every public officer who receives or distributes public
funds shall:
(1) keep a cashbook into which the public officer shall enter
daily, by item, all receipts of public funds; and
(2) balance the cashbook daily to show funds on hand at the
close of each day.
(b) The cashbook is a public record and is open to public
inspection in accordance with IC 5-14-3.
(c) A person who violates this section is subject to criminal
prosecution under IC 35-44.2-2-2.
As added by P.L.19-1987, SEC.7. Amended by P.L.126-2012,
SEC.21.
IC 5-13-5-2
Application of section to public funds other than state funds;
warrants for payment of public funds; copy of warrant; disposition
of warrant
Sec. 2. (a) This section applies to public funds other than state
funds. In all political subdivisions where the fiscal officer and
investing officer are two (2) separate individuals by law, all warrants
for the payment of public funds shall be drawn by the proper public
officer upon the proper treasurer. In all political subdivisions where
the fiscal officer and investing officer are the same individual by law,
all warrants shall be drawn by the fiscal officer directly against a
depository. A copy of the warrant shall be attached to each warrant
when drawn. The copy of the warrant shall be readily detachable and
shall show the following information:
(1) The number of the warrant.
(2) The date and amount of the warrant.
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(3) The name of the payee.
(4) The purpose of the warrant.
(5) The name and office of the drawer.
(6) The fund and the appropriation upon which the warrant is
drawn.
(b) In all political subdivisions where the fiscal officer and
investing officer are two (2) separate individuals by law, warrants
shall be presented by the proper public officer to the proper treasurer,
who shall detach and retain the copy of the warrant, countersign the
original, and stamp upon the original the name of the depository by
which it is payable. A warrant is effective only if it is stamped and
countersigned as provided in this subsection. After countersignature
and stamping, all warrants shall be returned to the proper public
officer for distribution. The proper treasurer, when any warrant is
presented for payment by any person other than a depository, may,
for convenience of the persons presenting the warrant, pay the
amount of the warrant to the holder, take an assignment by
endorsement of the warrant, and deposit the warrant in the proper
depository in lieu of the cash paid out to the holder of the warrant.
As added by P.L.19-1987, SEC.7.
IC 5-13-5-3
Drawing warrant
Sec. 3. All warrants for the payment of public funds of the state
shall be drawn by the auditor of state on the treasurer of state.
As added by P.L.19-1987, SEC.7.
IC 5-13-5-4
Signature of authorized public officers on check or negotiable
order of withdrawal; purposes
Sec. 4. (a) All checks or negotiable orders of withdrawal drawn
upon depositories shall be signed by public officers authorized to
sign the check or negotiable order of withdrawal in the officer's
official capacity. All funds paid out of the state treasury must be by
check or negotiable order of withdrawal of the state treasurer upon
the warrant of the auditor of state.
(b) A public officer may draw a check or negotiable order of
withdrawal upon a depository only for the following purposes:
(1) The payment of a warrant drawn by the auditor of state.
(2) The payment of a warrant drawn by the fiscal officer of a
political subdivision, where the fiscal officer and investing
officer are two (2) separate individuals by law.
(3) The payment of a legal claim against a political subdivision
where the fiscal officer and investing officer are the same
individual by law.
(4) An investment authorized under this article.
(5) The transfer of funds between depositories.
As added by P.L.19-1987, SEC.7. Amended by P.L.18-1996, SEC.5.
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IC 5-13-5-5
Transacting business with financial institution or public retirement
fund through use of electronic funds transfer; ordinance or
resolution
Sec. 5. (a) The fiscal body of any political subdivision may by
ordinance or resolution authorize the proper legal officers of the
political subdivision to transact the political subdivision's business
with a financial institution or a public pension or retirement fund
administered by the Indiana public retirement system through the use
of electronic funds transfer.
(b) The ordinance or resolution must:
(1) specify the types of transactions that may be conducted by
electronic funds transfer; and
(2) require the proper officers to maintain adequate
documentation of the transactions so that they may be audited
as provided by law.
As added by P.L.19-1987, SEC.7. Amended by P.L.61-2002, SEC.9;
P.L.35-2012, SEC.91.
IC 5-13-5-6
Financial institution continuation qualification as depository
Sec. 6. (a) A financial institution that is a depository for the state
on March 21, 1996, and any successor financial institution, continues
to be a depository for the state after March 21, 1996, without
reapplying under IC 5-13-10.5, until the earliest of the following
occurs:
(1) The board of depositories revokes the status of the financial
institution as a depository.
(2) The financial institution notifies the state board of finance
that the financial institution is resigning as a depository for the
state.
(3) Another law terminates the depository status of the financial
institution.
A financial institution that qualifies under this subsection as a
depository for the state after March 21, 1996, shall be treated after
March 21, 1996, as if the financial institution were designated as a
depository under IC 5-13-10.5.
(b) A financial institution that is a depository for a political
subdivision on March 21, 1996, and any successor financial
institution continues to be a depository for the political subdivision
after March 21, 1996, without reapplying under IC 5-13-10.5 or
IC 5-13-8-1, until the earliest of the following occurs:
(1) The state board of finance revokes the status of the financial
institution as a depository.
(2) The financial institution notifies the state board of finance
or the local board of finance for the political subdivision that
the financial institution is resigning as a depository for the
political subdivision.
Indiana Code 2016
(3) Another law terminates the depository status of the financial
institution.
A financial institution that qualifies under this subsection as a
depository for a political subdivision after March 21, 1996, shall be
treated after March 21, 1996, as if the financial institution were
designated as a depository under IC 5-13-8.
(c) Subject to IC 5-13-8-9, a financial institution that is a
depository for the state on March 21, 1996, and any successor
financial institution is eligible after March 21, 1996, to become a
depository for any political subdivision for which the financial
institution is not already a depository without reapplying under
IC 5-13-10.5 or IC 5-13-8-1. A financial institution that qualifies
under this subsection as a depository for a political subdivision after
March 21, 1996, shall be treated after March 21, 1996, as if the
financial institution were designated as a depository under IC 5-13-8.
(d) The treasurer of state shall add any financial institution that
qualifies as a depository for political subdivisions under subsection
(b) or (c) to the list of depositories eligible to receive the public
funds of political subdivisions under IC 5-13-8-1.
As added by P.L.16-2009, SEC.12.
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