(1) In order to effectuate the constitutional power and duty of the General Assembly to raise and appropriate revenue and approve and adopt a balanced budget, and in order that members and committees of the General Assembly and the Legislative Research Commission may be informed on a continuous basis about current and prospective financial conditions and budgetary needs of the Commonwealth and its budget units, the Kentucky General Assembly finds and declares that uniform detailed budget data and records relating to expenditures, receipts and activities and the budgetary operations of all budget units must be available in electronic and print form to the General Assembly and the Legislative Research Commission on a continuous and timely basis, including the electronic accounting and budgeting systems utilized by all branches of state government such as the Enhanced Management Reporting System and the Kentucky Budgeting System.
(2) The contents of all electronic and print forms, records, data and procedures established under KRS § 48.955 and KRS § 48.960 shall pertain to:

Terms Used In Kentucky Statutes 48.950

  • Activities: means those actions or services performed by a budget unit which depict in a quantitative manner the fulfillment of lawful purposes. See Kentucky Statutes 48.010
  • Balanced budget: A budget in which receipts equal outlays.
  • branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
  • Budget: means the complete financial plan for each fiscal year contained in a branch budget bill provided for by this chapter. See Kentucky Statutes 48.010
  • Receipts: includes the following:
    (a) "Nonrevenue receipts" means values accruing that either decrease an asset or create a liability. See Kentucky Statutes 48.010
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010

(a) The submission of budget unit requests and branch budget recommendations; (b) The adoption of budget bills;
(c) The allotments under, and authorized adjustments and revisions to, the enacted budget;
(d) The receipts and disbursements of budget funds pursuant to appropriations enacted by the General Assembly; and
(e) The financial and budgetary conditions of the Commonwealth and branch budget units.
These contents, forms and records shall be standard and uniform for all budget units.
(3) The Governor, the Chief Justice and the Legislative Research Commission for their respective branches and budget units, shall cause to be created, maintained and transmitted in electronic form the data, records and procedures necessary to fulfill the intent and purposes of KRS § 48.955 and KRS § 48.960 and which may be provided by KRS § 48.955 and KRS § 48.960.
Effective: March 24, 2023
History: Amended 2023 Ky. Acts ch. 92, sec. 43, effective March 24, 2023. — Created
1988 Ky. Acts ch. 3, sec. 1, effective February 10, 1988.