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45.251 Expenditures -- Scope -- Methodology -- Recordkeeping.
(1)
(2)
(3)
(4)
(5)
Expenditures shall be limited to the amounts and purposes for which
appropriations are made. All expenditures shall be reflected in the unified and
integrated system of accounts as provided by KRS 45.305.
The Finance and Administration Cabinet shall prescribe all information
technology standards, system attributes, and components to be used in, or in
conjunction with, the unified accounting system. The components must be
consistent with Commonwealth standards contained within the information
technology architecture, as provided by the Commonwealth Office of
Technology.
The Governor, the Chief Justice, and the Legislative Research Commission
shall designate the officer or employee authorized to approve advices of
employment, purchase orders and contracts, and requisitions for reservation of
funds, and no advice, order, contract, or requisition shall be honored as a
commitment statement unless the designation has been conveyed to the
Finance and Administration Cabinet.
The Finance and Administration Cabinet may approve for payment any
expenditure presented by a budget unit, provided that the Finance and
Administration Cabinet is able to determine that the expenditure is to satisfy a
liability of the Commonwealth of Kentucky created on behalf of that budget unit
in fulfilling the governmental function assigned to that budget unit and that the
expenditure is being made from the unexpended balance of a proper allotment.
Subsidiary records shall be maintained to report the financial operation and
condition of each budget unit. These subsidiary records shall be compatible
with the unified accounting system prescribed by subsection (1) of this section
and by KRS 45.305, and may be on the accrual basis or cash basis.
Expenditures may be by prior encumbrances or by straight disbursements. The
subsidiary records may be maintained by the Finance and Administration
Cabinet and by the budget unit involved. When a budget unit is authorized to
maintain subsidiary records, the Finance and Administration Cabinet shall have
authority to prescribe the accounting and preauditing procedures. The unified
system of accounts shall conform to accepted management and accounting
principles.
Effective:June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 65, effective June 20, 2005. -Amended 2000 Ky. Acts ch. 506, sec. 14, effective July 14, 2000; and ch. 536,
sec. 14, effective July 14, 2000. -- Amended 1997 (1st Extra. Sess.) Ky. Acts
ch. 4, sec. 17, effective May 30, 1997. -- Created 1982 Ky. Acts ch. 450,
sec. 34, effective July 1, 1983.
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