Kentucky Statutes 48.700 – General fund — Surplus fund account
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There is hereby created in the general fund of the State Treasury a surplus fund account subject to the following terms and conditions:
(1) It shall contain all surplus tax receipts accruing to the general fund as provided by
KRS § 48.140(3);
(2) Except as provided in KRS § 48.705, it shall contain all funds lapsed from general fund receipts not otherwise appropriated;
(3) It shall contain all receipts from the sale of surplus property purchased with general fund tax receipts and not otherwise appropriated;
(4) Except as provided in KRS § 48.705, it shall contain all general fund tax revenues in excess of estimates;
(5) It shall contain all moneys saved as a result of a reorganization of state government operations funded by the general fund;
(6) Funds in the account shall be invested at interest and the interest shall also accrue to this account;
(7) It shall contain any other funds which are required by law or regulation to accrue to the surplus account of the general fund; and
(8) No expenditures shall be made from this account unless appropriated by the General Assembly or unless required by the budget reduction provisions of a branch budget bill, or as provided by KRS § 48.130.
Effective: June 25, 2009
History: Amended 2009 Ky. Acts ch. 78, sec. 16, effective June 25, 2009. — Amended
1995 (3d Extra. Sess.) Ky. Acts ch. 2, sec. 5, effective November 3, 1995. — Amended 1990 Ky. Acts ch. 507, sec. 17, effective July 13, 1990. — Created 1982
Ky. Acts ch. 450, sec. 28, effective July 1, 1983.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. III, 22 at 1750.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. VII at 1758.
(1) It shall contain all surplus tax receipts accruing to the general fund as provided by
Terms Used In Kentucky Statutes 48.700
- Account: is a technical accounting term meaning a formal record in which related transactions and events, (i. See Kentucky Statutes 48.010
- 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
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources or both together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities in accordance with legal restrictions or other limitations, to include:
(a) "General Fund. See Kentucky Statutes 48.010 - Receipts: includes the following:
(a) "Nonrevenue receipts" means values accruing that either decrease an asset or create a liability. See Kentucky Statutes 48.010 - State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Surplus: means the undesignated fiscal year ending fund balance for the general fund or road fund, reduced by amounts designated to carry forward for appropriation in a subsequent fiscal year. See Kentucky Statutes 48.010
KRS § 48.140(3);
(2) Except as provided in KRS § 48.705, it shall contain all funds lapsed from general fund receipts not otherwise appropriated;
(3) It shall contain all receipts from the sale of surplus property purchased with general fund tax receipts and not otherwise appropriated;
(4) Except as provided in KRS § 48.705, it shall contain all general fund tax revenues in excess of estimates;
(5) It shall contain all moneys saved as a result of a reorganization of state government operations funded by the general fund;
(6) Funds in the account shall be invested at interest and the interest shall also accrue to this account;
(7) It shall contain any other funds which are required by law or regulation to accrue to the surplus account of the general fund; and
(8) No expenditures shall be made from this account unless appropriated by the General Assembly or unless required by the budget reduction provisions of a branch budget bill, or as provided by KRS § 48.130.
Effective: June 25, 2009
History: Amended 2009 Ky. Acts ch. 78, sec. 16, effective June 25, 2009. — Amended
1995 (3d Extra. Sess.) Ky. Acts ch. 2, sec. 5, effective November 3, 1995. — Amended 1990 Ky. Acts ch. 507, sec. 17, effective July 13, 1990. — Created 1982
Ky. Acts ch. 450, sec. 28, effective July 1, 1983.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. III, 22 at 1750.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. VII at 1758.