Accounting and Reporting
The Accounting Department is responsible for creating and maintaining the State's general ledger or centralized accounting system. The Accounting Department staff prepares and publishes reports regarding the State's fund balances, handles journal vouchers and funds checking, issues Form 1099 to recipients of State funds and answers questions relating to those forms, researches and makes corrections to documents used in the State accounting system, and closes the State's books at the end of the State's fiscal year on June 30.
The Finance Department creates and publishes the State's Comprehensive Annual Financial Report (CAFR), which is the official report of the State's financial position. The Finance Department also prepares a monthly Surplus Report for the State of Indiana, analyzes data, conducts studies and creates various reports as needed by the Indiana Auditor of State.
Additionally, the Finance Department implements new Governmental Accounting Standards Board (GASB) pronouncements for the State.