Kentucky Statutes 42.460 – Independent annual audit and certification of compliance — Exception
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Except as provided in KRS § 91A.040(7)(b), any assistance granted under KRS § 42.450 to
42.495 shall include an agreement that an independent annual audit shall be conducted and that the audit report shall include a certification that the funds were expended for the purpose intended. A copy of the audit and certification of compliance shall be forwarded to the Department for Local Government, in the case of assistance granted from the local government economic assistance fund or the local government economic development fund as allocated in KRS § 42.4592(1)(a) and (b), or to the Cabinet for Economic Development and the Kentucky Economic Development Finance Authority, in the case of assistance granted from the local government economic development fund, within eighteen (18) months after the end of the fiscal year.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 91, sec. 3, effective June 27, 2019. — Amended
2018 Ky. Acts ch. 10, sec. 3, effective July 14, 2018. — Amended 2010 Ky. Acts ch.
117, sec. 28, effective July 15, 2010. — Amended 2007 Ky. Acts ch. 47, sec. 22, effective June 26, 2007. — Amended 2006 Ky. Acts ch. 210, sec. 4, effective July 12,
2006. — Amended 2002 Ky. Acts ch. 338, sec. 46, effective July 15, 2002. — Amended 2001 Ky. Acts ch. 34, sec. 4, effective June 21, 2001. — Amended 1998
Ky. Acts ch. 69, sec. 13, effective July 15, 1998. — Amended 1994 Ky. Acts ch. 499, sec. 8, effective July 15, 1994. – Amended 1992 Ky. Acts ch. 107, sec. 9, effective July 1, 1992. — Amended 1990 Ky. Acts ch. 52, sec. 4. effective July 13, 1990. — Amended 1986 Ky. Acts ch. 374, sec. 6, effective July 15, 1986. — Amended 1982
Ky. Acts ch. 393, sec. 30, effective July 15, 1982. — Created 1980 Ky. Acts ch. 394, sec. 3, effective July 1, 1980.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (1) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (2) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (4) at 1641.
42.495 shall include an agreement that an independent annual audit shall be conducted and that the audit report shall include a certification that the funds were expended for the purpose intended. A copy of the audit and certification of compliance shall be forwarded to the Department for Local Government, in the case of assistance granted from the local government economic assistance fund or the local government economic development fund as allocated in KRS § 42.4592(1)(a) and (b), or to the Cabinet for Economic Development and the Kentucky Economic Development Finance Authority, in the case of assistance granted from the local government economic development fund, within eighteen (18) months after the end of the fiscal year.
Terms Used In Kentucky Statutes 42.460
- branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. 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.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 91, sec. 3, effective June 27, 2019. — Amended
2018 Ky. Acts ch. 10, sec. 3, effective July 14, 2018. — Amended 2010 Ky. Acts ch.
117, sec. 28, effective July 15, 2010. — Amended 2007 Ky. Acts ch. 47, sec. 22, effective June 26, 2007. — Amended 2006 Ky. Acts ch. 210, sec. 4, effective July 12,
2006. — Amended 2002 Ky. Acts ch. 338, sec. 46, effective July 15, 2002. — Amended 2001 Ky. Acts ch. 34, sec. 4, effective June 21, 2001. — Amended 1998
Ky. Acts ch. 69, sec. 13, effective July 15, 1998. — Amended 1994 Ky. Acts ch. 499, sec. 8, effective July 15, 1994. – Amended 1992 Ky. Acts ch. 107, sec. 9, effective July 1, 1992. — Amended 1990 Ky. Acts ch. 52, sec. 4. effective July 13, 1990. — Amended 1986 Ky. Acts ch. 374, sec. 6, effective July 15, 1986. — Amended 1982
Ky. Acts ch. 393, sec. 30, effective July 15, 1982. — Created 1980 Ky. Acts ch. 394, sec. 3, effective July 1, 1980.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (1) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (2) at 1641.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, A, 11, (4) at 1641.