Kentucky Statutes 224A.306 – Conditions for receiving assistance from fund for water-related infrastructure projects
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(1) The authority shall require the following as conditions for receiving assistance from any fund administered by the authority for infrastructure projects related to water and wastewater service:
(a) Establishment and use of a financial accounting system that accounts for the operations of water treatment and distribution separately from all other operations of the applicant;
(b) Establishment of service rates based upon the cost of providing the service;
and
(c) An agreement that the authority may require an audit to be conducted of the applicant at least once every two (2) years.
(2) The authority shall require all applicants within a class to use the same accounting system. The authority may accept present accounting systems in use and applied uniformly to all applicants within a class, for example, the uniform system of accounts established by the National Association of Regulatory Utility Commissioners.
(3) The authority may assist water providers to establish accounting systems that meet the requirements of this section. The authority may provide assistance by paying for third-party private contractors or assistance from the Kentucky Auditor of Public Accounts.
(4) The authority may pay for costs related to establishing a new uniform accounting system for the use of governmental agencies that merge or consolidate their water services if:
(a) The merging or consolidating entities use different accounting systems; and
(b) The merger or consolidation is consistent with a water management planning council plan as reviewed and prioritized under KRS § 151.607.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 179, sec. 5, effective June 29, 2023. — Created
2000 Ky. Acts ch. 529, sec. 8, effective July 14, 2000.
(a) Establishment and use of a financial accounting system that accounts for the operations of water treatment and distribution separately from all other operations of the applicant;
Terms Used In Kentucky Statutes 224A.306
- Authority: means the Kentucky Infrastructure Authority, which is created by this chapter. See Kentucky Statutes 224A.011
- System: means the system owned and operated by a governmental agency with respect to solid waste projects, treatment works, or infrastructure projects financed as provided by the assistance agreement between the governmental agency and the authority. See Kentucky Statutes 224A.011
- Treatment: when used in a criminal justice context, means targeted interventions
that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010 - Wastewater: means any water or liquid substance containing sewage, industrial waste, or other pollutants or contaminants derived from the prior use of these waters. See Kentucky Statutes 224A.011
(b) Establishment of service rates based upon the cost of providing the service;
and
(c) An agreement that the authority may require an audit to be conducted of the applicant at least once every two (2) years.
(2) The authority shall require all applicants within a class to use the same accounting system. The authority may accept present accounting systems in use and applied uniformly to all applicants within a class, for example, the uniform system of accounts established by the National Association of Regulatory Utility Commissioners.
(3) The authority may assist water providers to establish accounting systems that meet the requirements of this section. The authority may provide assistance by paying for third-party private contractors or assistance from the Kentucky Auditor of Public Accounts.
(4) The authority may pay for costs related to establishing a new uniform accounting system for the use of governmental agencies that merge or consolidate their water services if:
(a) The merging or consolidating entities use different accounting systems; and
(b) The merger or consolidation is consistent with a water management planning council plan as reviewed and prioritized under KRS § 151.607.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 179, sec. 5, effective June 29, 2023. — Created
2000 Ky. Acts ch. 529, sec. 8, effective July 14, 2000.