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Indiana Code Title 4. State Offices and Administration § 4-8.1-2-8

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 8. (a) Except as provided in subsection (b), the state comptroller may not draw a warrant upon the treasurer of state or authorize an electronic funds transfer from the state treasury unless there is money in the state treasury belonging to the fund upon which the warrant is drawn to pay the warrant and unless the payment would be in conformity with appropriations made by law or other proper disbursing authority.  The state comptroller shall preserve the approved claim on which the warrant or electronic funds transfer is based for the period required by law.

(b) The state comptroller may temporarily overdraft a fund's cash account if:

(1) as a condition to receiving federal aid, state warrants or checks must have been issued, cashed, or presented to a bank or the treasurer of state before the federal money can be drawn and deposited in the state treasury;

(2) appropriate estimated revenue or federal aid receivable entries are recorded;  and

(3) a timely federal reimbursement has been requested.

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Cite this article: FindLaw.com - Indiana Code Title 4. State Offices and Administration § 4-8.1-2-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-4-state-offices-and-administration/in-code-sect-4-8-1-2-8/

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