Chart of Account Revisions
The Chart of Accounts for cities and towns is being revised from a three-digit number to a four-digit number. The effective date of the change will be January 1, 2022. We have conducted training on the changes over the past year and a half and those materials are available under “Presentation and Training Materials”. In May, 2021, the revised list was emailed out to local units and can be viewed at the link below. Chapter 3 of the Accounting and Uniform Compliance Guidelines Manual for Cities and Towns will be updated and reissued in January, 2022.
Newly Elected Officials' Training Videos
We have recorded a series of webinars/videos for officials who were recently elected and will take office January 1, 2024. The videos can be viewed by anyone, but are directed toward newer Clerk-Treasurers, City Controllers, and Council members. Below are links to each video on our YouTube channel. Each video has a document containing slides from the PowerPoint presentation and most have other materials for your information.
In addition to the below and prior to the end of the year, we will be providing videos related to the filing of the Certified List of Employees and Compensation Paid to Public Employees (Form 100-R), which is due January 31 and the Annual Financial Report (AFR), which is due February 29.
The State of Indiana has 447 towns.
The SBOA is required by IC 5-11-1-25 to determine the frequency of examinations of towns using risked based criteria. The frequency of examinations must not be less than once every four years. The criteria used to establish risk must include the following factors:
- A newly elected or appointed fiscal officer
- Annual financial reports that are not timely submitted or that contain material errors;
- Any other factor determined by the State Examiner and approved by the audit committee.
Examinations must be conducted annually for towns that require an annual audit (a) due to the receipt of federal financial assistance in an amount that subjects the town to a federal audit, (b) due to continuing disclosure requirements, or (c) as a condition of a public bond issuance.
Effective July 1, 2017, IC 5-11-5-1.5 (House Bill 1031) went into effect that requires entities audited by the SBOA to submit a Corrective Action Plan for any noncompliance issues that have been repeated from prior reports.
We have created the following guidelines and FAQs in regards to this: 1031 Guidelines
If you need to submit a CAP, please click here.
CAP Template - This is a template of the CAP for your reference, but please remember, you have to submit it online via the link above. For any modifications that are requested by the SBOA, we will contact the submitter via email.
Please submit any questions you have related to this process to CAP@sboa.in.gov.