Kentucky Statutes 48.040 – Budget forms — Projections of actuarially required contribution rates — Executive branch assistance in preparation of budgets
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(1) On or before April 1 of each odd-numbered year, representatives designated by the Governor, the Chief Justice, and the Legislative Research Commission for their respective branches shall propose drafts of uniform forms to be used by all budget units in submitting their budget estimates, requests and recommendations, and shall recommend to the Legislative Research Commission such rules and regulations deemed necessary for the preparation of such budget estimates, requests and recommendations.
(2) On or before June 1 of each odd-numbered year, the Legislative Research Commission shall prescribe uniform forms, records, and instructions to be used by branch budget units. Included in such forms shall be a section requiring budget units to identify the amount of funds to be spent on agency publications.
(3) (a) On or before August 15 of each odd-numbered year, each of the state- administered retirement systems as defined by KRS § 6.350(5) shall submit to the state budget director’s office and the Legislative Research Commission a preliminary projection of the actuarially required contribution rates payable for the budget biennium that begins in the following fiscal year.
(b) On or before October 1 of each odd-numbered year, the state-administered retirement systems as defined by KRS § 6.350(5) shall submit revised projections to the state budget director’s office and the Legislative Research Commission, based upon the most recently completed actuarial valuation, of the actuarially required contribution rates payable for the budget biennium that begins in the following fiscal year.
(c) The Legislative Research Commission shall distribute the information received under this subsection to the committee staff and co-chairs of any committee that has jurisdiction over a state-administered retirement system.
(4) On or before August 1 of each odd-numbered year, the Finance and Administration Cabinet shall supply each branch of government with at least three (3) complete sets of the prescribed uniform forms and instructions for the preparation of estimates and statements, and one (1) copy of the complete statement of the expenditures of each budget unit of the branch to aid each branch of government in preparing its estimates and statements.
(5) Upon request, the Finance and Administration Cabinet shall provide such additional assistance to each branch of government as may be required.
Effective: March 24, 2023
History: Amended 2023 Ky. Acts ch. 92, sec. 36, effective March 24, 2023. — Amended 2016 Ky. Acts ch. 133, sec. 7, effective July 15, 2016. — Amended 1986
Ky. Acts ch. 303, sec. 1, effective July 15, 1986. — Created 1982 Ky. Acts ch. 450, sec. 4, effective July 15, 1983.
(2) On or before June 1 of each odd-numbered year, the Legislative Research Commission shall prescribe uniform forms, records, and instructions to be used by branch budget units. Included in such forms shall be a section requiring budget units to identify the amount of funds to be spent on agency publications.
Terms Used In Kentucky Statutes 48.040
- Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
- 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
- Budget: means the complete financial plan for each fiscal year contained in a branch budget bill provided for by this chapter. See Kentucky Statutes 48.010
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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) (a) On or before August 15 of each odd-numbered year, each of the state- administered retirement systems as defined by KRS § 6.350(5) shall submit to the state budget director’s office and the Legislative Research Commission a preliminary projection of the actuarially required contribution rates payable for the budget biennium that begins in the following fiscal year.
(b) On or before October 1 of each odd-numbered year, the state-administered retirement systems as defined by KRS § 6.350(5) shall submit revised projections to the state budget director’s office and the Legislative Research Commission, based upon the most recently completed actuarial valuation, of the actuarially required contribution rates payable for the budget biennium that begins in the following fiscal year.
(c) The Legislative Research Commission shall distribute the information received under this subsection to the committee staff and co-chairs of any committee that has jurisdiction over a state-administered retirement system.
(4) On or before August 1 of each odd-numbered year, the Finance and Administration Cabinet shall supply each branch of government with at least three (3) complete sets of the prescribed uniform forms and instructions for the preparation of estimates and statements, and one (1) copy of the complete statement of the expenditures of each budget unit of the branch to aid each branch of government in preparing its estimates and statements.
(5) Upon request, the Finance and Administration Cabinet shall provide such additional assistance to each branch of government as may be required.
Effective: March 24, 2023
History: Amended 2023 Ky. Acts ch. 92, sec. 36, effective March 24, 2023. — Amended 2016 Ky. Acts ch. 133, sec. 7, effective July 15, 2016. — Amended 1986
Ky. Acts ch. 303, sec. 1, effective July 15, 1986. — Created 1982 Ky. Acts ch. 450, sec. 4, effective July 15, 1983.