Kentucky Statutes 424.220 – Financial statements — Contents — Publication requirements — Exempted officers
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(1) Excepting officers who are exempted under subsection (8) of this section, every public officer of any city, county, or district less than a county, or of any board, commission, or other authority of a city, county, or district whose duty it is to collect, receive, have the custody, control, or disbursement of any funds collected from the public in any form shall, at the expiration of each fiscal year, prepare an itemized, sworn statement of the funds collected, received, held, or disbursed by him or her during the fiscal year just closed, unless he or she has complied with KRS § 424.230.
(2) The statement shall show:
(a) The total amount of funds collected and received during the fiscal year from each individual source; and
(b) The total amount of funds disbursed during the fiscal year to each individual payee. The list shall include only aggregate amounts to vendors exceeding one thousand dollars ($1,000).
(3) Only the totals of amounts paid to each individual as salary or commission and public utility bills shall be shown. The amount of salaries paid to all nonelected county employees shall be shown as lump-sum expenditures by category, including but not limited to road department, jails, solid waste, public safety, and administrative personnel.
(4) The financial reporting and publishing requirements for a school district are provided in KRS § 160.463.
(5) The officer shall procure and include in or attach to the financial statement, as a part thereof, a certificate from the cashier or other proper officer of the banks in which the funds are or have been deposited during the past year, showing the balance, if any, of funds to the credit of the officer making the statement.
(6) To provide notice to the public that the city’s financial statement has been completed as required by this section:
(a) The appropriate officer of a city that has performed an audit under KRS
91A.040 for the fiscal year or years, including the appropriate officer of any municipally owned electric, gas, or water system, shall publish the audit report in accordance with KRS § 91A.040(9); and
(b) The appropriate officer of a city that has not conducted an annual audit for the fiscal year under one (1) of the exceptions provided in KRS § 91A.040(2), (3), or (4) shall publish a legal display advertisement of not less than six (6) column inches in a newspaper qualified under KRS § 424.120 that the statement required by subsection (1) of this section has been prepared and that copies have been provided to each local newspaper of general circulation, each news service, and each local radio and television station which has on file with the city a written request to be provided a statement. The advertisement shall be published within ninety (90) days after the close of the fiscal year.
(7) To provide notice to the public that the county’s financial statement has been
completed as required by this section, the appropriate officer of a county shall publish the county’s audit, prepared in accordance with KRS § 43.070 or 64.810, in the same manner that city audits are published in accordance with KRS § 91A.040(9).
(8) The provisions of this section shall not apply to officers of: (a) A city of the first class;
(b) A county containing a city of the first class; (c) A consolidated local government;
(d) An urban-county government;
(e) A city with a population equal to or greater than twenty thousand (20,000)
based upon the most recent federal decennial census; (f) A public agency or joint public agency of a:
1. City of the first class;
2. Consolidated local government; or
3. County containing a city of the first class; or
(g) A school district of a:
1. City of the first class;
2. Consolidated local government; or
3. County containing a city of the first class.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 91, sec. 2, effective June 27, 2019. — Amended
2018 Ky. Acts ch. 10, sec. 2, effective July 14, 2018; ch. 171, sec. 8, effective April
14, 2018; and ch. 207, sec. 8, effective April 27, 2018. — Amended 2014 Ky. Acts ch. 92, sec. 309, effective January 1, 2015. — Amended 2011 Ky. Acts ch. 46, sec. 2, effective June 8, 2011. — Amended 2006 Ky. Acts ch. 8, sec. 6, effective July 12,
2006. — Amended 2002 Ky. Acts ch. 346, sec. 232, effective July 15, 2002. — Amended 1998 Ky. Acts ch. 69, sec. 79, effective July 15, 1998. — Amended 1990
Ky. Acts ch. 52, sec. 3, effective July 13, 1990. — Amended 1988 Ky. Acts ch. 32, sec. 2, effective July 15, 1988. — Amended 1984 Ky. Acts ch. 277, sec. 1, effective July 13, 1984. — Amended 1982 Ky. Acts ch. 430, sec. 7, effective July 15, 1982. — Amended 1978 Ky. Acts ch. 384, sec. 526, effective June 17, 1978. — Amended
1976 Ky. Acts ch. 71, sec. 1. — Amended 1962 Ky. Acts ch. 170, sec. 1. — Amended
1960 Ky. Acts ch. 168, sec. 1. — Created 1958 Ky. Acts ch. 42, sec. 12.
Legislative Research Commission Note (8/19/2022). The Reviser of Statutes has corrected an error that occurred during codification of this statute following the enactment of 2018 Ky. Acts chs. 10, 171, and 207.
(2) The statement shall show:
Terms Used In Kentucky Statutes 424.220
- City: includes town. See Kentucky Statutes 446.010
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Statute: A law passed by a legislature.
- Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(a) The total amount of funds collected and received during the fiscal year from each individual source; and
(b) The total amount of funds disbursed during the fiscal year to each individual payee. The list shall include only aggregate amounts to vendors exceeding one thousand dollars ($1,000).
(3) Only the totals of amounts paid to each individual as salary or commission and public utility bills shall be shown. The amount of salaries paid to all nonelected county employees shall be shown as lump-sum expenditures by category, including but not limited to road department, jails, solid waste, public safety, and administrative personnel.
(4) The financial reporting and publishing requirements for a school district are provided in KRS § 160.463.
(5) The officer shall procure and include in or attach to the financial statement, as a part thereof, a certificate from the cashier or other proper officer of the banks in which the funds are or have been deposited during the past year, showing the balance, if any, of funds to the credit of the officer making the statement.
(6) To provide notice to the public that the city’s financial statement has been completed as required by this section:
(a) The appropriate officer of a city that has performed an audit under KRS
91A.040 for the fiscal year or years, including the appropriate officer of any municipally owned electric, gas, or water system, shall publish the audit report in accordance with KRS § 91A.040(9); and
(b) The appropriate officer of a city that has not conducted an annual audit for the fiscal year under one (1) of the exceptions provided in KRS § 91A.040(2), (3), or (4) shall publish a legal display advertisement of not less than six (6) column inches in a newspaper qualified under KRS § 424.120 that the statement required by subsection (1) of this section has been prepared and that copies have been provided to each local newspaper of general circulation, each news service, and each local radio and television station which has on file with the city a written request to be provided a statement. The advertisement shall be published within ninety (90) days after the close of the fiscal year.
(7) To provide notice to the public that the county’s financial statement has been
completed as required by this section, the appropriate officer of a county shall publish the county’s audit, prepared in accordance with KRS § 43.070 or 64.810, in the same manner that city audits are published in accordance with KRS § 91A.040(9).
(8) The provisions of this section shall not apply to officers of: (a) A city of the first class;
(b) A county containing a city of the first class; (c) A consolidated local government;
(d) An urban-county government;
(e) A city with a population equal to or greater than twenty thousand (20,000)
based upon the most recent federal decennial census; (f) A public agency or joint public agency of a:
1. City of the first class;
2. Consolidated local government; or
3. County containing a city of the first class; or
(g) A school district of a:
1. City of the first class;
2. Consolidated local government; or
3. County containing a city of the first class.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 91, sec. 2, effective June 27, 2019. — Amended
2018 Ky. Acts ch. 10, sec. 2, effective July 14, 2018; ch. 171, sec. 8, effective April
14, 2018; and ch. 207, sec. 8, effective April 27, 2018. — Amended 2014 Ky. Acts ch. 92, sec. 309, effective January 1, 2015. — Amended 2011 Ky. Acts ch. 46, sec. 2, effective June 8, 2011. — Amended 2006 Ky. Acts ch. 8, sec. 6, effective July 12,
2006. — Amended 2002 Ky. Acts ch. 346, sec. 232, effective July 15, 2002. — Amended 1998 Ky. Acts ch. 69, sec. 79, effective July 15, 1998. — Amended 1990
Ky. Acts ch. 52, sec. 3, effective July 13, 1990. — Amended 1988 Ky. Acts ch. 32, sec. 2, effective July 15, 1988. — Amended 1984 Ky. Acts ch. 277, sec. 1, effective July 13, 1984. — Amended 1982 Ky. Acts ch. 430, sec. 7, effective July 15, 1982. — Amended 1978 Ky. Acts ch. 384, sec. 526, effective June 17, 1978. — Amended
1976 Ky. Acts ch. 71, sec. 1. — Amended 1962 Ky. Acts ch. 170, sec. 1. — Amended
1960 Ky. Acts ch. 168, sec. 1. — Created 1958 Ky. Acts ch. 42, sec. 12.
Legislative Research Commission Note (8/19/2022). The Reviser of Statutes has corrected an error that occurred during codification of this statute following the enactment of 2018 Ky. Acts chs. 10, 171, and 207.