Kentucky Statutes 248.560 – Proposed research program — Budget
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(1) The Kentucky Tobacco Research and Development Center shall prepare a proposed research program and budget request for each fiscal year and shall present such documents to the Kentucky Tobacco Research Board for consideration and approval. The budget shall be based on revenue estimates as provided in KRS
248.550.
(2) The budget shall provide for payment of expenses incurred by Kentucky Tobacco Research Board members as provided in subsection (2) of KRS § 248.510, and for other administrative costs of the board.
(3) The Kentucky Tobacco Research Board shall consider the university recommendations and shall approve a budget for each fiscal year which shall be the basis for expending funds appropriated by KRS § 248.510 to KRS § 248.570. The budget and proposed research program shall be considered by the board in terms of the intent of KRS § 248.510 to KRS § 248.570.
(4) The university is authorized to proceed to execute the budget approved by the Kentucky Tobacco Research Board and may expend funds accordingly, and, the Finance and Administration Cabinet is hereby authorized to issue warrants for this purpose upon request by the university.
(5) Copies of the approved budget shall be filed by the board with the Legislative
Research Commission and the Finance and Administration Cabinet.
Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 98, sec. 6, effective July 15, 2002. — Created
1970 Ky. Acts ch. 255, sec. 8.
248.550.
Terms Used In Kentucky Statutes 248.560
- 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.
- Year: means calendar year. See Kentucky Statutes 446.010
(2) The budget shall provide for payment of expenses incurred by Kentucky Tobacco Research Board members as provided in subsection (2) of KRS § 248.510, and for other administrative costs of the board.
(3) The Kentucky Tobacco Research Board shall consider the university recommendations and shall approve a budget for each fiscal year which shall be the basis for expending funds appropriated by KRS § 248.510 to KRS § 248.570. The budget and proposed research program shall be considered by the board in terms of the intent of KRS § 248.510 to KRS § 248.570.
(4) The university is authorized to proceed to execute the budget approved by the Kentucky Tobacco Research Board and may expend funds accordingly, and, the Finance and Administration Cabinet is hereby authorized to issue warrants for this purpose upon request by the university.
(5) Copies of the approved budget shall be filed by the board with the Legislative
Research Commission and the Finance and Administration Cabinet.
Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 98, sec. 6, effective July 15, 2002. — Created
1970 Ky. Acts ch. 255, sec. 8.