CHAPTER 14. CUMULATIVE MAINTENANCE FUND
IC 14-33-14
Chapter 14. Cumulative Maintenance Fund
IC 14-33-14-1
Applicability of chapter
Sec. 1. This chapter applies to a district having channel
improvements, levees, and water retarding or impoundment
structures.
As added by P.L.1-1995, SEC.26.
IC 14-33-14-2
Exemptions
Sec. 2. This chapter does not apply to the following:
(1) A water supply structure or the water supply part of a
multiple purpose structure if provision has been made for
maintenance from revenues of a water system.
(2) Sewage works.
As added by P.L.1-1995, SEC.26.
IC 14-33-14-3
"Fund" defined
Sec. 3. As used in this chapter, "fund" refers to a cumulative
maintenance fund established under this chapter.
As added by P.L.1-1995, SEC.26.
IC 14-33-14-4
Establishment of fund
Sec. 4. A district shall establish a cumulative maintenance fund in
the year following commencement of construction or assumption or
maintenance of the channel improvements, levees, and water
retarding or impoundment structures so that the works of
improvement are adequately maintained.
As added by P.L.1-1995, SEC.26.
IC 14-33-14-5
Budget and appropriations to fund
Sec. 5. (a) The board shall budget and appropriate annually to the
fund an amount equivalent to ten percent (10%) of the annual cost of
maintenance for the works of improvement as the cost is:
(1) stated in the district plan; or
(2) adjusted under section 8 of this chapter.
(b) Money accumulated in the fund may be used for emergency or
unusually expensive maintenance of the works of improvement.
As added by P.L.1-1995, SEC.26. Amended by P.L.228-2003, SEC.1.
IC 14-33-14-6
Suspension of appropriations
Sec. 6. (a) If an amount equivalent to two (2) times the annual
cost of maintenance of the works of improvement, as stated in the
district plan or as the cost is adjusted under section 8 of this chapter,
has accumulated in the fund, appropriations to the fund shall be
suspended until the year that the amount in the fund is not more than
equal to the annual cost of maintenance of the works of improvement
as stated in the plan or the adjusted annual cost.
(b) The money in the fund may be invested and reinvested in
whole or in part in accordance with IC 5-13-9.
As added by P.L.1-1995, SEC.26. Amended by P.L.228-2003, SEC.2.
IC 14-33-14-7
Normal maintenance work budgeted
Sec. 7. The appropriation to the fund does not relieve the board of
the duty to budget annually the normal maintenance work anticipated
during the next fiscal year.
As added by P.L.1-1995, SEC.26.
IC 14-33-14-8
Adjusted annual cost of maintenance
Sec. 8. (a) As used in this section, "cost index source" refers to the
Engineering News Record Construction Cost Index, as published by
McGraw Hill Construction or its successor.
(b) Before January 1, 2006, the board of a district may elect to
adjust the annual cost of maintenance of the works of improvement
as stated in the plan, as calculated in subsection (d), if the following
conditions are met:
(1) The board has at a meeting adopted a resolution that sets
forth:
(A) the annual cost of maintenance of the works of
improvement as stated in the plan, and the year when the
annual cost was stated in the plan; and
(B) the new, adjusted annual cost of maintenance of the
works of improvement.
(2) The calculation under subsection (d) has been verified by
either the state conservation engineer for the Natural Resources
Conservation Service of the United States Department of
Agriculture or a professional engineer licensed under
IC 25-31-1.
(3) The board has provided a copy of the resolution to the
department of local government finance (established by
IC 6-1.1-30-1.1) within sixty (60) days of adoption.
(c) If the board of a district adopts a resolution under section
(b)(1), a copy of the resolution must be included in the district's
annual report, and a copy of the annual report must be provided to
the local circuit court and the department of natural resources.
(d) The annual cost of maintenance of the works of improvement
as stated in the plan of a district may be adjusted to an amount not to
exceed the amount determined as follows:
STEP ONE: Determine the cost index from the cost index
source for the most recent year.
STEP TWO: Determine the cost index from the cost index
source for the year that the annual cost of maintenance of the
works of improvement was stated in the plan.
STEP THREE: Divide the number determined in STEP ONE by
the number determined in STEP TWO.
STEP FOUR: Multiply the result of STEP THREE by the
annual cost of maintenance of the works of improvement that is
stated in the plan.
As added by P.L.228-2003, SEC.3.