Each authority shall operate for an initial fiscal period ending on June 30 next following the effective date of its creation as a corporate entity; and shall thereafter operate on a fiscal year basis beginning each July 1 and ending on the next ensuing June 30.
History: Created 1970 Ky. Acts ch. 243, sec. 6.

Terms Used In Kentucky Statutes 96A.050

  • authority: means a transit authority created pursuant to this chapter. See Kentucky Statutes 96A.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.
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