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IN HB1158
Bill
Status
1/12/2015
Primary Sponsor
Gail Riecken
Click for details
AI Summary
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Amends IC 5-11-1-2 to require municipalities and counties with populations exceeding 100,000 to prepare financial reports in accordance with generally accepted accounting principles established by the Governmental Accounting Standards Board.
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Requirement applies to financial reports prepared for fiscal years beginning after December 31, 2016.
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Maintains existing state board of accounts authority to formulate, prescribe, and install uniform accounting systems for all public offices and accounts.
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Effective date is July 1, 2015.
Legislative Description
Local government accounting. Provides that financial reports prepared for years beginning after December 31, 2016, for municipalities or counties with a population of more than 100,000 must be prepared in accordance with generally accepted accounting principles.
Last Action
First Reading: referred to Committee on Local Government
1/12/2015