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91A.010 Definitions for KRS 91A.010 to 91A.060.
As used in KRS 91A.010 to 91A.060, unless the context otherwise requires:
(1) "Budget" means a proposed plan for raising and spending money for specified
programs, functions, activities, or objectives during a fiscal year.
(2) "Debt service" means the sum of money required to pay installments of
principal and interest on bonds, notes, and other evidences of debt accruing
within a fiscal year and to maintain sinking funds.
(3) "Encumbrances" means obligations in the form of purchase orders or contracts
that are chargeable to an appropriation. An obligation ceases to be an
encumbrance when paid or when the actual liability is recorded.
(4) "Executive authority" means the mayor in any city organized under the
mayor-council plan or mayor-aldermen plan, the commission in any city
organized under the commission plan, or the board in any city organized under
the city manager plan.
(5) "Fiscal year" means the accounting period for the administration of fiscal
operations.
(6) "Generally accepted governmental auditing standards" means those standards
for audit of governmental organizations, programs, activities, and functions
issued by the Comptroller General of the United States.
(7) "Generally accepted principles of governmental accounting" mean those
standards and procedures promulgated and recognized by the Governmental
Accounting Standards Board.
(8) "Legislative body" means the council in cities organized under the
mayor-council plan, the board of aldermen in cities of the first class organized
under the mayor-aldermen plan, the commission in cities organized under the
commission plan and the board of commissioners in cities organized under the
city manager plan.
Effective:July 14, 1992
History: Amended 1992 Ky. Acts ch. 33, sec. 2, effective July 14, 1992. -- Created
1980 Ky. Acts ch. 232, sec. 1, effectiveJuly 15, 1980.
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