Kentucky Statutes 201.180 – Fiscal year — Annual statements of board — Other information to be supplied
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(1) The fiscal year of the board shall begin on the first day of July in each year and end on June 30 next following. During the month of May of each year the board shall prepare and certify two (2) financial statements to the fiscal court and the city legislative body.
(2) One (1) statement shall show the amount of money that the board estimates will be needed for the ensuing fiscal year for expenditure under KRS § 201.160, and set forth in detail the sums needed for the different branches or departments of the expenditures. This statement shall also show the estimated balances which will be on hand at close of business June 30 of that year and available for expenditure during the next succeeding fiscal year under KRS § 201.160, and shall indicate as nearly as possible any additional funds or assets, other than those derived from appropriations, that will become available for expenditure during said fiscal year.
(3) The other statement shall set forth the estimated balances, inventories, funds, assets and expenditures under KRS § 201.170, in the same manner and detail as is required in the statement described in subsection (2) of this section.
(4) The board shall also furnish the fiscal court and city legislative body with any other information or data available to it which the fiscal court or the legislative body may request.
Effective: June 17, 1954
History: Amended 1954 Ky. Acts ch. 169, sec. 3, effective June 17, 1954. — Amended
1944 Ky. Acts ch. 90, sec. 2. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective
October 1, 1942, from Ky. Stat. sec. 938b-6.
(2) One (1) statement shall show the amount of money that the board estimates will be needed for the ensuing fiscal year for expenditure under KRS § 201.160, and set forth in detail the sums needed for the different branches or departments of the expenditures. This statement shall also show the estimated balances which will be on hand at close of business June 30 of that year and available for expenditure during the next succeeding fiscal year under KRS § 201.160, and shall indicate as nearly as possible any additional funds or assets, other than those derived from appropriations, that will become available for expenditure during said fiscal year.
Terms Used In Kentucky Statutes 201.180
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the body created by KRS §. See Kentucky Statutes 201.010
- City: includes town. 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.
- Month: means calendar month. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(3) The other statement shall set forth the estimated balances, inventories, funds, assets and expenditures under KRS § 201.170, in the same manner and detail as is required in the statement described in subsection (2) of this section.
(4) The board shall also furnish the fiscal court and city legislative body with any other information or data available to it which the fiscal court or the legislative body may request.
Effective: June 17, 1954
History: Amended 1954 Ky. Acts ch. 169, sec. 3, effective June 17, 1954. — Amended
1944 Ky. Acts ch. 90, sec. 2. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective
October 1, 1942, from Ky. Stat. sec. 938b-6.