State Codes and Statutes

Statutes > Kentucky > 045-00 > 251

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Page 1 of 1 45.251 Expenditures -- Scope -- Methodology -- Recordkeeping. (1) Expenditures shall be limited to the amounts and purposes for which appropriations are made. All expenditures shall be reflected in the unified and integrated system of <br>accounts as provided by KRS 45.305. (2) The Finance and Administration Cabinet shall prescribe all information technology standards, system attributes, and components to be used in, or in conjunction with, <br>the unified accounting system. The components must be consistent with <br>Commonwealth standards contained within the information technology architecture, <br>as provided by the Commonwealth Office of Technology. (3) The Governor, the Chief Justice, and the Legislative Research Commission shall designate the officer or employee authorized to approve advices of employment, <br>purchase orders and contracts, and requisitions for reservation of funds, and no <br>advice, order, contract, or requisition shall be honored as a commitment statement <br>unless the designation has been conveyed to the Finance and Administration <br>Cabinet. (4) The Finance and Administration Cabinet may approve for payment any expenditure presented by a budget unit, provided that the Finance and Administration Cabinet is <br>able to determine that the expenditure is to satisfy a liability of the Commonwealth <br>of Kentucky created on behalf of that budget unit in fulfilling the governmental <br>function assigned to that budget unit and that the expenditure is being made from <br>the unexpended balance of a proper allotment. (5) Subsidiary records shall be maintained to report the financial operation and condition of each budget unit. These subsidiary records shall be compatible with the <br>unified accounting system prescribed by subsection (1) of this section and by KRS <br>45.305, and may be on the accrual basis or cash basis. Expenditures may be by prior <br>encumbrances or by straight disbursements. The subsidiary records may be <br>maintained by the Finance and Administration Cabinet and by the budget unit <br>involved. When a budget unit is authorized to maintain subsidiary records, the <br>Finance and Administration Cabinet shall have authority to prescribe the accounting <br>and preauditing procedures. The unified system of accounts shall conform to <br>accepted management and accounting principles. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 65, effective June 20, 2005. -- Amended 2000 Ky. Acts ch. 506, sec. 14, effective July 14, 2000; and ch. 536, sec. 14, <br>effective July 14, 2000. -- Amended 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 17, <br>effective May 30, 1997. -- Created 1982 Ky. Acts ch. 450, sec. 34, effective July 1, <br>1983.

State Codes and Statutes

Statutes > Kentucky > 045-00 > 251

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Page 1 of 1 45.251 Expenditures -- Scope -- Methodology -- Recordkeeping. (1) Expenditures shall be limited to the amounts and purposes for which appropriations are made. All expenditures shall be reflected in the unified and integrated system of <br>accounts as provided by KRS 45.305. (2) The Finance and Administration Cabinet shall prescribe all information technology standards, system attributes, and components to be used in, or in conjunction with, <br>the unified accounting system. The components must be consistent with <br>Commonwealth standards contained within the information technology architecture, <br>as provided by the Commonwealth Office of Technology. (3) The Governor, the Chief Justice, and the Legislative Research Commission shall designate the officer or employee authorized to approve advices of employment, <br>purchase orders and contracts, and requisitions for reservation of funds, and no <br>advice, order, contract, or requisition shall be honored as a commitment statement <br>unless the designation has been conveyed to the Finance and Administration <br>Cabinet. (4) The Finance and Administration Cabinet may approve for payment any expenditure presented by a budget unit, provided that the Finance and Administration Cabinet is <br>able to determine that the expenditure is to satisfy a liability of the Commonwealth <br>of Kentucky created on behalf of that budget unit in fulfilling the governmental <br>function assigned to that budget unit and that the expenditure is being made from <br>the unexpended balance of a proper allotment. (5) Subsidiary records shall be maintained to report the financial operation and condition of each budget unit. These subsidiary records shall be compatible with the <br>unified accounting system prescribed by subsection (1) of this section and by KRS <br>45.305, and may be on the accrual basis or cash basis. Expenditures may be by prior <br>encumbrances or by straight disbursements. The subsidiary records may be <br>maintained by the Finance and Administration Cabinet and by the budget unit <br>involved. When a budget unit is authorized to maintain subsidiary records, the <br>Finance and Administration Cabinet shall have authority to prescribe the accounting <br>and preauditing procedures. The unified system of accounts shall conform to <br>accepted management and accounting principles. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 65, effective June 20, 2005. -- Amended 2000 Ky. Acts ch. 506, sec. 14, effective July 14, 2000; and ch. 536, sec. 14, <br>effective July 14, 2000. -- Amended 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 17, <br>effective May 30, 1997. -- Created 1982 Ky. Acts ch. 450, sec. 34, effective July 1, <br>1983.

State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 045-00 > 251

Download pdf
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Page 1 of 1 45.251 Expenditures -- Scope -- Methodology -- Recordkeeping. (1) Expenditures shall be limited to the amounts and purposes for which appropriations are made. All expenditures shall be reflected in the unified and integrated system of <br>accounts as provided by KRS 45.305. (2) The Finance and Administration Cabinet shall prescribe all information technology standards, system attributes, and components to be used in, or in conjunction with, <br>the unified accounting system. The components must be consistent with <br>Commonwealth standards contained within the information technology architecture, <br>as provided by the Commonwealth Office of Technology. (3) The Governor, the Chief Justice, and the Legislative Research Commission shall designate the officer or employee authorized to approve advices of employment, <br>purchase orders and contracts, and requisitions for reservation of funds, and no <br>advice, order, contract, or requisition shall be honored as a commitment statement <br>unless the designation has been conveyed to the Finance and Administration <br>Cabinet. (4) The Finance and Administration Cabinet may approve for payment any expenditure presented by a budget unit, provided that the Finance and Administration Cabinet is <br>able to determine that the expenditure is to satisfy a liability of the Commonwealth <br>of Kentucky created on behalf of that budget unit in fulfilling the governmental <br>function assigned to that budget unit and that the expenditure is being made from <br>the unexpended balance of a proper allotment. (5) Subsidiary records shall be maintained to report the financial operation and condition of each budget unit. These subsidiary records shall be compatible with the <br>unified accounting system prescribed by subsection (1) of this section and by KRS <br>45.305, and may be on the accrual basis or cash basis. Expenditures may be by prior <br>encumbrances or by straight disbursements. The subsidiary records may be <br>maintained by the Finance and Administration Cabinet and by the budget unit <br>involved. When a budget unit is authorized to maintain subsidiary records, the <br>Finance and Administration Cabinet shall have authority to prescribe the accounting <br>and preauditing procedures. The unified system of accounts shall conform to <br>accepted management and accounting principles. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 65, effective June 20, 2005. -- Amended 2000 Ky. Acts ch. 506, sec. 14, effective July 14, 2000; and ch. 536, sec. 14, <br>effective July 14, 2000. -- Amended 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 17, <br>effective May 30, 1997. -- Created 1982 Ky. Acts ch. 450, sec. 34, effective July 1, <br>1983.