Sec. 16. (a) All fines, forfeitures, and other revenue that, by law, accrue to the fund shall be collected as provided by law. The money shall be paid into the state treasury and becomes a part of the fund in the custody of the treasurer of state. The county auditor shall keep a record of all fines and forfeitures and all other revenue that, by law, accrues to the fund. Semiannually on May 1 and November 1, the county auditor shall issue the county auditor’s warrant payable to the treasurer of state in an amount equal to the total collections in the six (6) months preceding of fines and forfeitures and all other revenue that, by law, accrues to the fund or to the permanent endowment fund.

     (b) At the time of payment of principal, interest, or accretions to the treasurer of state, the county auditor shall file a report with the auditor of state. The report must set forth the amount of the following:

(1) The county’s common school fund.

(2) Interest on the county’s common school fund.

(3) Fines and forfeitures from the county.

(4) All other accretions included in a payment from the county to the treasurer of state.

Forms for making the report shall be furnished by the auditor of state.

     (c) All money collected as interest on the fund shall be paid into the state treasury and shall be distributed for the uses and purposes provided by law.

[Pre-2006 Recodification Citation: 21-1-3-7.]

As added by P.L.2-2006, SEC.172.