Kentucky Statutes 45.782 – Statewide deferred maintenance fund
Current as of: 2024 | Check for updates
|
Other versions
(1) There is created within the capital construction fund the “Statewide Deferred Maintenance Fund”. The fund shall be used as a supplemental source for funding deferred maintenance and government mandate needs of state agencies. Maintenance includes equipment used primarily for maintenance purposes and expenditures related to deferred maintenance of infrastructure and capital assets. The balance of any moneys remaining in the fund at the close of any fiscal year shall not lapse but shall be carried forward to the next fiscal year.
(2) Priority for the funding from the statewide deferred maintenance fund shall be determined by the secretary of the Finance and Administration Cabinet in consultation with the state budget director and the commissioner of the Department for Facilities Management. State agencies that do not have separate agency-specific maintenance funds or that have inadequate maintenance funds shall be given priority for access to moneys in the statewide deferred maintenance fund.
(3) Moneys from the statewide deferred maintenance fund shall not be expended for: (a) New capital projects; or
(b) Additional funding for any capital project that received line item authorization by the General Assembly in any branch budget bill.
(4) The secretary shall, by September 1 of each year, report to the Legislative Research Commission all transfers from the fund, including the purpose and amount of each transfer and the amount of funds carried forward for the fiscal year ending on June
30 of that year.
Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 27, sec. 1, effective July 15, 1998.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 1, (7) at 1692.
(2) Priority for the funding from the statewide deferred maintenance fund shall be determined by the secretary of the Finance and Administration Cabinet in consultation with the state budget director and the commissioner of the Department for Facilities Management. State agencies that do not have separate agency-specific maintenance funds or that have inadequate maintenance funds shall be given priority for access to moneys in the statewide deferred maintenance fund.
Terms Used In Kentucky Statutes 45.782
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- 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) Moneys from the statewide deferred maintenance fund shall not be expended for: (a) New capital projects; or
(b) Additional funding for any capital project that received line item authorization by the General Assembly in any branch budget bill.
(4) The secretary shall, by September 1 of each year, report to the Legislative Research Commission all transfers from the fund, including the purpose and amount of each transfer and the amount of funds carried forward for the fiscal year ending on June
30 of that year.
Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 27, sec. 1, effective July 15, 1998.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, J, 1, (7) at 1692.