2021 Indiana Code
Title 20. Education
Article 49. State Management of Common School Funds; State Advances and Loans
Chapter 3. State Administration of Common School Fund
20-49-3-14. Audits

Sec. 14. The state board of accounts shall examine the status of the fund. Upon completion of the examination, the examiner performing the duty shall prepare a report of the examination. The report must show:

(1) all necessary pertinent information;

(2) the balance of the fund's principal at the close of the previous examination;

(3) the amount of interest and principal paid by each county to the state board of finance since the close of the previous examination;

(4) the balance of principal due at the date of the closing of the report;

(5) a statement of receipts and disbursements by the state board of finance;

(6) a list of the securities found to be in the possession of the state board of finance;

(7) the amount of each security; and

(8) the total amount of all the securities held in custody.

The appropriate officer of the state board of finance shall sign the list described in subdivision (6) in duplicate. The original signed list shall be deposited with the state board of accounts, and the duplicate of the signed list shall be kept in the files of the treasurer of state.

[Pre-2006 Recodification Citation: 21-1-3-11.]

As added by P.L.2-2006, SEC.172. Amended by P.L.181-2015, SEC.41.