Overview
Entity Annual Report Indiana Sample
ENTITY ANNUAL REPORT |
STATE BOARD OF ACCOUNTS |
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302 WEST WASHINGTON STREET |
Form |
ROOM E418 |
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Prescribed by State Board of Accounts |
INDIANAPOLIS, INDIANA |
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Note: |
The Entity Annual Report (Form |
Telephone: (317) |
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the audit requirements placed on your entity by IC |
Fax: (317) |
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File report within thirty (30) days of the close of your entity's |
Web Site: www.in.gov/sboa |
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fiscal year end. Instructions for completing Form |
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included in the attached memorandum |
Page 1 of 2 |
Entity's Fiscal Year End
______ ______ ______
Month Day Year
OFFICE USE ONLY
SBA NO: _____________
Audit Determination:
____________ Complete
____________ Waived
Legal Name: |
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Federal ID No: |
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D/B/A: |
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Business Phone No: ( ) |
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Street Address: |
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City: |
County: |
State: |
Zip Code: |
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Name of Operating Officer: |
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Title: |
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TYPE OF ORGANIZATION |
LEGAL STATUS |
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_________ Corporation |
_________ ASSOCIATION |
_________ For Profit |
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_________ Partnership |
_________ INDIVIDUAL |
_________ |
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FINANCIAL INFORMATION |
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1. |
Government funds received during year (Detailed on Page 2) |
$__________________ |
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2. |
Government funds disbursed during year |
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$__________________ |
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3. |
Entity's total disbursements (or expenditures) for the year |
$__________________ |
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4. Percent of government funds disbursed to entity's total |
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disbursements (or expenditures) (Line 2 / 3) |
_________________ % |
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This information is reported on the ___________ cash basis ___________ accrual basis. |
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Is this the initial Form |
__________ No |
__________ |
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CERTIFICATION: This is to certify that the data contained in this report is accurate to the best of my |
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knowledge and belief. |
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Signature:________________________________ |
Title __________________________ |
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Printed Name: ____________________________ |
Date Signed: ___________________ |
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Page 2 of 2
DETAIL OF GOVERNMENT FUNDS RECEIVED
List the government funds received during the year by agency, address, program title and amount received. Attach additional sheets if necessary.
GOVERNMENT AGENCY
ADDRESS
PROGRAM TITLE
AMOUNT RECEIVED
Date organization was founded: _________________________________________________________________
Describe organization's purpose:_________________________________________________________________
___________________________________________________________________________________________
Describe organizational governing structure:________________________________________________________
___________________________________________________________________________________________
Have you ever been audited by an Independent Public Accountant (IPA)? Yes ___________ No ___________
If so, what was the last fiscal year audited? ________________________________________________________
Name and address of IPA that conducted audit: _____________________________________________________
___________________________________________________________________________________________
File Characteristics
| Fact Name | Details |
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| Purpose | The Entity Annual Report (Form E-1) determines the audit requirements for entities as per Indiana Code IC 5-11-1-9. |
| Filing Deadline | Entities must file the report within thirty (30) days after the close of their fiscal year. |
| Legal Compliance | Form E-1 is prescribed by the State Board of Accounts, ensuring compliance with state regulations. |
| Information Required | The report requires details on government funds received, disbursed, and total expenditures for the year. |
Essential Points on This Form
What is the Entity Annual Report Indiana form?
The Entity Annual Report (Form E-1) is a document required by the State Board of Accounts in Indiana. It helps determine the audit requirements for your entity based on its financial activities during the fiscal year. This report must be filed within thirty days after the end of your entity's fiscal year.
Who needs to file the Entity Annual Report?
Any entity operating in Indiana that receives government funds must file this report. This includes corporations, partnerships, associations, and not-for-profit organizations. If your organization has received government funds, it is essential to complete and submit this form.
What information is required on the form?
The form requires various details, including:
- Legal name and Federal ID number of the entity
- Type of organization and legal status
- Financial information such as government funds received and disbursed
- Total disbursements for the year
- Certification of the accuracy of the data provided
How do I determine my entity's fiscal year end?
Your entity's fiscal year end is the last day of your accounting period. This could be December 31 for a calendar year or any other date you have chosen for your financial reporting. It is important to ensure that you file the report within thirty days after this date.
What happens if I miss the filing deadline?
Failing to file the Entity Annual Report on time can lead to penalties or increased scrutiny during audits. It is crucial to adhere to the thirty-day deadline to avoid complications and ensure compliance with state regulations.
Can I file the report electronically?
Currently, the Entity Annual Report must be submitted in a paper format. Ensure that you send the completed form to the address provided on the form. Always check the State Board of Accounts website for any updates regarding electronic filing options.
What if my entity has never been audited?
If your entity has never been audited by an Independent Public Accountant (IPA), you should indicate this on the form. It is still important to provide accurate financial information and complete all required sections, as this will help determine your audit requirements.
Where can I find help if I have questions about the form?
If you have questions or need assistance while completing the form, you can contact the State Board of Accounts directly. They can provide guidance and clarification on any aspect of the report. Their contact information is available on their official website.
Misconceptions
Misconceptions about the Entity Annual Report Indiana form can lead to confusion for organizations required to file. Understanding these misconceptions is crucial for compliance and accurate reporting. Here are six common misunderstandings:
- It is optional to file the report. Many organizations believe that filing the Entity Annual Report is optional. In reality, it is mandatory for entities that meet certain criteria, particularly those receiving government funds.
- Only for-profit organizations need to file. Some assume that only for-profit entities are required to submit this report. However, both not-for-profit organizations and for-profit entities must file if they meet the requirements.
- The report is due at the end of the calendar year. A common misconception is that the report is due annually at the end of the calendar year. In fact, the report must be filed within thirty days of the close of the entity's fiscal year.
- Filing the report guarantees an audit. Many believe that submitting the Entity Annual Report automatically triggers an audit. While the report helps determine audit requirements, it does not guarantee that an audit will occur.
- Only financial data is required. Some organizations think that the report only requires financial information. In truth, it also asks for details about the entity's purpose, governing structure, and any past audits.
- There is no penalty for late submission. A misconception exists that late submissions will not incur penalties. On the contrary, failing to file on time can lead to fines and other legal repercussions.
By addressing these misconceptions, organizations can better prepare for their responsibilities regarding the Entity Annual Report in Indiana.
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