The Public Deposit Insurance Fund (PDIF) was created in 1937 to insure the deposits of all public monies in Indiana banks - much the same way as the FDIC insures individual depositor's accounts.
PDIF funds are managed and invested by Treasurer of State Kelly Mitchell as the secretary and investment manager of the Indiana Board of Depositories. Treasurer Mitchell staffs, administers, manages, and directs the affairs and activities of the Board in accordance with the policies set out by the board.
The PDIF is funded by assessments payable by every depository that holds public funds. The Board may waive this assessment if it determines that the fund balance is adequate to insure potential losses. This assessment has been waived as a result of the Board's finding that an appropriate loss reserve level has been achieved.
Annual Financial Audit Reports
Audit Report 2017 Audit Report 2018 Audit Report 2019
Audit Report 2014 Audit Report 2015 Audit Report 2016
Audit Report 2011 Audit Report 2012 Audit Report 2013
Audit Report 2008 Audit Report 2009 Audit Report 2010
Audit Report 2005 Audit Report 2006 Audit Report 2007