Kentucky Statutes 147A.158 – Government Resources Accelerating Needed Transformation Program fund — Report
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(1) There is hereby established in the State Treasury a trust and agency account to be known as the Government Resources Accelerating Needed Transformation Program fund. The fund shall consist of moneys received from state appropriations, gifts, grants, and federal funds.
(2) The fund shall be administered and maintained by the department. (3) Amounts deposited in the fund shall be used for:
(a) Awarding matching fund grants to applicants of the Government Resources Accelerating Needed Transformation Program upon notification of award of the federal grant requiring matching funds; and
(b) Administration of the program.
(4) Notwithstanding KRS § 45.229, moneys in the account not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year.
(5) Any interest earnings of the fund shall become a part of the fund and shall not lapse.
(6) Moneys deposited in the fund are hereby appropriated for the purposes set forth in this section and shall not be appropriated or transferred by the General Assembly for any other purposes.
(7) Any amounts obligated under subsection (3)(a) of this section shall be canceled upon denial of the federal award.
(8) By December 1, 2023, and annually thereafter until December 1, 2026, the department shall prepare an annual report detailing the expenditures for the administration of the program from the fund, which shall be included in the annual report submitted under KRS § 147A.164.
Effective: June 29, 2023
History: Created 2023 Ky. Acts ch. 186, sec. 5, effective June 29, 2023.
(2) The fund shall be administered and maintained by the department. (3) Amounts deposited in the fund shall be used for:
Terms Used In Kentucky Statutes 147A.158
- Federal: refers to the United States. 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.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(a) Awarding matching fund grants to applicants of the Government Resources Accelerating Needed Transformation Program upon notification of award of the federal grant requiring matching funds; and
(b) Administration of the program.
(4) Notwithstanding KRS § 45.229, moneys in the account not expended at the close of a fiscal year shall not lapse but shall be carried forward into the next fiscal year.
(5) Any interest earnings of the fund shall become a part of the fund and shall not lapse.
(6) Moneys deposited in the fund are hereby appropriated for the purposes set forth in this section and shall not be appropriated or transferred by the General Assembly for any other purposes.
(7) Any amounts obligated under subsection (3)(a) of this section shall be canceled upon denial of the federal award.
(8) By December 1, 2023, and annually thereafter until December 1, 2026, the department shall prepare an annual report detailing the expenditures for the administration of the program from the fund, which shall be included in the annual report submitted under KRS § 147A.164.
Effective: June 29, 2023
History: Created 2023 Ky. Acts ch. 186, sec. 5, effective June 29, 2023.