Indiana Code 25-33.5-10-11. Commission expenses; annual assessments; accounting and audits
(b) The commission may accept any appropriate revenue sources, donations, and grants of money, equipment, supplies, materials, and services.
Terms Used In Indiana Code 25-33.5-10-11
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) levy on, and collect an annual assessment from, each compact state; or
(2) impose fees on other parties;
to cover the cost of the operations and activities of the commission and the commission’s staff in an amount that is sufficient to cover the commission’s annual budget as approved each year for revenue that is not provided by other sources. The aggregate annual assessment amount shall be allocated based upon a formula determined by the commission and promulgated through a rule binding all the compact states.
(d) The commission shall not incur any obligations of any kind before securing adequate funds to meet the obligation. The commission may not pledge the credit of any of the compact states except by and with the authority of the compact state.
(e) The commission shall keep accurate accounts of all receipts and disbursements. The commission’s receipts and disbursements shall be subject to the audit and accounting procedures established under the commission’s bylaws. However, all receipts and disbursements of funds handled by the commission shall be audited yearly by a certified or licensed public accountant and the report of the audit shall be included in, and become part of, the commission’s annual report.
As added by P.L.65-2022, SEC.2.