Kentucky Statutes 177.369 – Payment of pro rata share of funds appropriated to incorporated cities and counties
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(1) On and after the fiscal year beginning July 1, 1980 and each fiscal year thereafter, the Finance and Administration Cabinet shall pay to each incorporated city and county containing an unincorporated urban place its pro rata share of any funds appropriated and any unexpended balance of funds appropriated for construction, reconstruction, and maintenance of urban roads and streets. During each fiscal year, the Finance and Administration Cabinet shall make quarterly payments to each such city and county of the funds set aside and allocated pursuant to KRS § 177.365 and
177.366.
(2) The expenditure of any money received by the city or county pursuant to the provisions of subsection (1) of this section shall be made solely for the purpose of construction, reconstruction, and maintenance of urban roads and streets set forth in KRS § 177.365.
(3) Any city or county which has received any money pursuant to the provisions of subsection (1) of this section shall retain all records of the expenditure of such money for a period of five (5) years and said records shall be subject to audit by the Finance and Administration Cabinet for said period of time in order to determine the proper expenditure of said money for the purposes required by KRS § 177.365.
Effective: July 15, 1988
History: Amended 1988 Ky. Acts ch. 327, sec. 7, effective July 15, 1988. — Created
1980 Ky. Acts ch. 218, sec. 12, effective July 1, 1980.
177.366.
Terms Used In Kentucky Statutes 177.369
- City: includes town. 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.
- Year: means calendar year. See Kentucky Statutes 446.010
(2) The expenditure of any money received by the city or county pursuant to the provisions of subsection (1) of this section shall be made solely for the purpose of construction, reconstruction, and maintenance of urban roads and streets set forth in KRS § 177.365.
(3) Any city or county which has received any money pursuant to the provisions of subsection (1) of this section shall retain all records of the expenditure of such money for a period of five (5) years and said records shall be subject to audit by the Finance and Administration Cabinet for said period of time in order to determine the proper expenditure of said money for the purposes required by KRS § 177.365.
Effective: July 15, 1988
History: Amended 1988 Ky. Acts ch. 327, sec. 7, effective July 15, 1988. — Created
1980 Ky. Acts ch. 218, sec. 12, effective July 1, 1980.