Kentucky Statutes 132.601 – Administrator’s use of local funds accruing to office — Bank account — Expenditures — Supervision
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(1) The property valuation administrator of any county may, after receiving an approved budget from the Department of Revenue under the provisions of KRS
132.590, obligate and spend any of the local funds accruing to his office under the provisions of KRS § 132.590 or KRS § 132.285, over and above that actually used in compensating his deputies and assistants, for the purchase of any maps, lists, charts, materials, supplies or equipment, or for other expenses necessary to the proper assessment of property or preparation and maintenance of assessment rolls and records.
(2) The property valuation administrator shall maintain a bank account for the management of local funds received by his office under the provisions of KRS
132.590 and 132.285. Beginning with the 1990-1992 biennium, at the end of each fiscal year a cumulative carryover of local funds equivalent to the total annual local appropriation for the ending fiscal year or five thousand dollars ($5,000), whichever is greater, shall be retained. Any funds in excess of this amount shall be refunded by the property valuation administrator no later than August 1 to the appropriating local governments in direct proportion to their respective appropriations.
(3) Expenditures made by the office of the property valuation administrator under the provisions of subsection (1) of this section shall be governed by procurement procedures adopted by the fiscal court in the county administrative code required by KRS § 68.005. However, after approval of the annual budget for the office of the property valuation administrator provided in KRS § 132.590 by the Department of Revenue, the necessity of the expenditure shall not be questioned by the fiscal court. The Department of Revenue shall have neither authority nor responsibility in the auditing of expenditures made by the property valuation administrator from locally appropriated funds. The Auditor of Public Accounts shall assume the responsibility.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 211, effective June 20, 2005. — Amended
1988 Ky. Acts ch. 418, sec. 4, effective July 15, 1988. — Created 1978 Ky. Acts ch.
253, sec. 3, effective June 17, 1978.
132.590, obligate and spend any of the local funds accruing to his office under the provisions of KRS § 132.590 or KRS § 132.285, over and above that actually used in compensating his deputies and assistants, for the purchase of any maps, lists, charts, materials, supplies or equipment, or for other expenses necessary to the proper assessment of property or preparation and maintenance of assessment rolls and records.
Terms Used In Kentucky Statutes 132.601
- Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
- County: means any county, consolidated local government, urban-county government, unified local government, or charter county government. See Kentucky Statutes 132.010
- Department: means the Department of Revenue. See Kentucky Statutes 132.010
- Fiscal court: means the legislative body of any county, consolidated local government, urban-county government, unified local government, or charter county government. See Kentucky Statutes 132.010
- 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.
- Year: means calendar year. See Kentucky Statutes 446.010
(2) The property valuation administrator shall maintain a bank account for the management of local funds received by his office under the provisions of KRS
132.590 and 132.285. Beginning with the 1990-1992 biennium, at the end of each fiscal year a cumulative carryover of local funds equivalent to the total annual local appropriation for the ending fiscal year or five thousand dollars ($5,000), whichever is greater, shall be retained. Any funds in excess of this amount shall be refunded by the property valuation administrator no later than August 1 to the appropriating local governments in direct proportion to their respective appropriations.
(3) Expenditures made by the office of the property valuation administrator under the provisions of subsection (1) of this section shall be governed by procurement procedures adopted by the fiscal court in the county administrative code required by KRS § 68.005. However, after approval of the annual budget for the office of the property valuation administrator provided in KRS § 132.590 by the Department of Revenue, the necessity of the expenditure shall not be questioned by the fiscal court. The Department of Revenue shall have neither authority nor responsibility in the auditing of expenditures made by the property valuation administrator from locally appropriated funds. The Auditor of Public Accounts shall assume the responsibility.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 211, effective June 20, 2005. — Amended
1988 Ky. Acts ch. 418, sec. 4, effective July 15, 1988. — Created 1978 Ky. Acts ch.
253, sec. 3, effective June 17, 1978.