Kentucky Statutes 164.7919 – Comprehensive university excellence trust fund
Current as of: 2024 | Check for updates
|
Other versions
(1) (a) The comprehensive university excellence trust fund created by KRS § 164.7911 shall consist of six (6) separate accounts: one (1) for Eastern Kentucky University; one (1) for Kentucky State University; one (1) for Morehead State University; one (1) for Murray State University; one (1) for Northern Kentucky University; and one (1) for Western Kentucky University.
(b) Funds appropriated to the comprehensive university excellence trust fund or any subsidiary fund created by the Council on Postsecondary Education shall be apportioned to each of the comprehensive universities proportional to their respective share of total general fund appropriations in each fiscal year, excluding debt service appropriations and specialized, noninstructional appropriations.
(c) The purpose of the comprehensive university excellence trust fund is to provide financial assistance to encourage comprehensive universities to develop at least one (1) nationally recognized program of distinction or at least one (1) nationally recognized applied research program consistent with the goals established in KRS § 164.003(2).
(2) The council shall develop the criteria and process for submission of an application under this section. Each university may apply to the council for financial assistance from the comprehensive university excellence trust fund. The council shall determine the matching funds or internal reallocation requirements from the applicants to qualify for funding. Financial assistance that may be awarded by the council shall be consistent with the adopted strategic agenda, the biennial budget process, and the availability of any resources to the comprehensive university excellence trust fund.
Effective: July 15, 2008
History: Amended 2008 Ky. Acts ch. 113, sec. 13, effective July 15, 2008. — Created
1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 11, effective May 30, 1997.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 1, (1) at 1692.
(b) Funds appropriated to the comprehensive university excellence trust fund or any subsidiary fund created by the Council on Postsecondary Education shall be apportioned to each of the comprehensive universities proportional to their respective share of total general fund appropriations in each fiscal year, excluding debt service appropriations and specialized, noninstructional appropriations.
Terms Used In Kentucky Statutes 164.7919
- 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
- Council: means the Council on Postsecondary Education created in KRS §. See Kentucky Statutes 164.001
- 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.
- Goals: means the six (6) goals specified in KRS §. See Kentucky Statutes 164.001
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Strategic agenda: means the state strategic postsecondary education agenda described in KRS §. See Kentucky Statutes 164.001
(c) The purpose of the comprehensive university excellence trust fund is to provide financial assistance to encourage comprehensive universities to develop at least one (1) nationally recognized program of distinction or at least one (1) nationally recognized applied research program consistent with the goals established in KRS § 164.003(2).
(2) The council shall develop the criteria and process for submission of an application under this section. Each university may apply to the council for financial assistance from the comprehensive university excellence trust fund. The council shall determine the matching funds or internal reallocation requirements from the applicants to qualify for funding. Financial assistance that may be awarded by the council shall be consistent with the adopted strategic agenda, the biennial budget process, and the availability of any resources to the comprehensive university excellence trust fund.
Effective: July 15, 2008
History: Amended 2008 Ky. Acts ch. 113, sec. 13, effective July 15, 2008. — Created
1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 11, effective May 30, 1997.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 1, (1) at 1692.