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IN HB1579
Bill
Status
1/20/2015
Primary Sponsor
Heath VanNatter
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AI Summary
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Requires all school corporations to use consistently applied United States generally accepted accounting principles (GAAP) as developed by the Financial Accounting Standards Board for accounting, budgeting, and reporting by January 1, 2018
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Mandates school corporations provide accounting reports using GAAP to their governing bodies on a regular basis
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Directs the state board of accounts to formulate or approve all necessary statements and reports for school corporations to comply with GAAP requirements by January 1, 2018
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Applies to all public school governing bodies except charter school organizers
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Effective date: July 1, 2015
Legislative Description
School accounting. Requires, not later than January 1, 2018, that a school corporation use consistently applied United States generally accepted accounting principles (GAAP) for the school corporation's accounting, budgeting, and reporting.
Last Action
Representative Koch added as coauthor
2/2/2015