Kentucky Statutes 147A.315 – Community endowment fund
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(1) The community endowment fund is established as a separate trust and agency account in the State Treasury. The fund shall consist of funds appropriated from the general fund, and any other proceeds from appropriations, contributions, gifts, or grants made available for the purposes of the fund.
(2) Notwithstanding KRS § 45.229, any moneys remaining in the fund at the close of a fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(3) Any interest earnings of the fund shall become a part of the fund and shall not lapse. (4) The fund shall be administered by the Department for Local Government, and
moneys in the fund shall be used to provide grants under KRS § 147A.320.
Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 71, sec. 4, effective July 15, 2010.
Legislative Research Commission Note (7/15/2010). A reference to the “Governor’s
Office for Local Development” in subsection (4) of this section, as created by 2010
Ky. Acts ch. 71, sec. 4, has been changed in codification to the “Department for
Local Government” to reflect the renaming of that agency in Executive Order 2009-
540, which was confirmed by the General Assembly in 2010 Ky. Acts ch. 117. This change was made by the Reviser of Statutes pursuant to 2010 Ky. Acts ch. 117, sec.
90.
(2) Notwithstanding KRS § 45.229, any moneys remaining in the fund at the close of a fiscal year shall not lapse but shall be carried forward to the next fiscal year.
Terms Used In Kentucky Statutes 147A.315
- 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
(3) Any interest earnings of the fund shall become a part of the fund and shall not lapse. (4) The fund shall be administered by the Department for Local Government, and
moneys in the fund shall be used to provide grants under KRS § 147A.320.
Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 71, sec. 4, effective July 15, 2010.
Legislative Research Commission Note (7/15/2010). A reference to the “Governor’s
Office for Local Development” in subsection (4) of this section, as created by 2010
Ky. Acts ch. 71, sec. 4, has been changed in codification to the “Department for
Local Government” to reflect the renaming of that agency in Executive Order 2009-
540, which was confirmed by the General Assembly in 2010 Ky. Acts ch. 117. This change was made by the Reviser of Statutes pursuant to 2010 Ky. Acts ch. 117, sec.
90.