BK Chapter 5.pdf


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BK Chapter 5.pdf

  1. 1. Indiana Secretary of State Bookkeeper Manual V. Agency RevenueV. Agency Revenue Each Division is responsible for a variety of filings related to the nature of theservice provided to our customers. It is essential to understand the nature and scope ofour services to be able to meet the expectations mentioned in previous sections. Listedbelow are the perspective division’s filings that require a fee to process. Business Services Division Corporations U.C.C. Trademarks Originating Documents Initial Filings Registrations Amendments Amendments Renewal Mergers/Share Exchange Searches Entity Reports Certifications Name Reservations Cooperatives Trusts Securities DivisionFranchiseApplications/Renewals Loan Broker Applications Enforcement FundFranchise Exemption Collection AgencyDeterminations Licensing Broker-Dealer ApplicationInvestment Advisor Interpretive Opinion/No- Broker-Dealer AgentRegistration/Renewal Action/ Exemption Rulings RegistrationRegistration by Coordination Registration by Investment CompanyGuaranty Fund/Cont. Care Qualification Initial Filing/Renewals Administration/Miscellaneous Filings Notaries Summons Motor Pools The Bookkeeper should familiarize him/herself with the perspective feesassociated with each filing. Visit http://www.IN.gov/sos to obtain the most current list offiling fees. V-1
  2. 2. Indiana Secretary of State Bookkeeper Manual V. Agency RevenueDedicated Accounts The majority of revenue received by the Secretary of State’s office will bedeposited into the General Fund as revenue. Funds from the General Fund under most circumstances are appropriated to avariety of programs and agencies. There are certain circumstances that revenuescollected are deposited into Agency specific accounts. These accounts hold manysimilarities to a standard personal checking account by the nature they are maintained. Enhance Access Fund (6000/141700) Enhance Access Fund was established in accordance to IC 4-5-10-5. Feesapplicable to online services generate revenue. These convenience-based fees allowcustomers to access or file information 24 hours a day from the comfort of any Internetaccessible location. Revenue received from the Enhance Access Fund is used to improve processesperformed by the Indiana Secretary of State’s Office with technological innovations. Securities Enforcement Fund (1000/210400) Is in accordance with IC 23-2-1-15, however, costs of investigations recoveredunder sections 16(d) and 17.1(c) of this chapter shall be deposited with the treasurer ofstate to be deposited by the treasurer of state in a separate account to be known as thesecurities division enforcement account. The funds in the account shall be available, with the approval of the budgetagency, to augment and supplement the funds appropriated for the administration ofthis chapter. Securities Division Escrow Account (6000/164300) Funds in the Escrow Account will be used also in regards in payment according to IC:23-2-1-19, which states that the person(s) mentioned "is liable to any other party to thetransaction who did not knowingly participate in the violation or who did not have, at thetime of the transaction, knowledge." V-2
  3. 3. Indiana Secretary of State Bookkeeper Manual V. Agency Revenue Funds deposited into the Escrow Account will be disbursed via claim vouchers tothe parties affected. The Escrow Account is necessary to hold the funds in the interimas disbursement payments are received and prepared. Loan Broker Regulation Account (1000/105190) The Loan Broker Account is technically a branch of the General Fund. Keydifferences between a standard account in the General Fund and the Loan Brokeraccount are: - Funds in the Loan Broker must only be used in regards to the regulation of Loan Brokers - Funds do not revert to any other account within the General Fund at the end of the fiscal year Guaranty Fund (6810/104000) Pursuant to Indiana Code: 23-2-4, the Indiana Securities Division regulates theoffer and sale of Continuing Care agreements in the state. The Act also establishes theIndiana Retirement Home Guaranty Fund, designed to protect the financial interests ofIndiana citizens who enter into continuing care agreements with providers, should theprovider declare bankruptcy. The Board of Directors must operate under a Plan of Operation adopted by theBoard and approved by the Indiana Securities Commissioner. The Plan provides for theadministration of the Fund in the event that a provider becomes bankrupt. V-3