2014 Kentucky Revised Statutes
CHAPTER 200 - ASSISTANCE TO CHILDREN
200.151 Early childhood development fund -- Purpose -- Source of moneys -- Strategic plan for fund distribution -- Annual report and audit.
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<![CDATA[200.151 Early childhood development fund -- Purpose -- Source of moneys -Strategic plan for fund distribution -- Annual report and audit.
There is established in the State Treasury a fund to be known as the "Early
Childhood Development Fund." This fund shall exist for the purpose of receipt and
expenditure of moneys to improve and promote early childhood development for
children of the Commonwealth. The fund may receive state appropriations, gifts,
grants, and federal funds and shall be disbursed by the State Treasurer upon the
warrant of the chair of the early childhood development board. Beginning July 1,
2000, twenty-five percent (25%) of the proceeds from the tobacco settlement
agreement fund shall be deposited in this fund as provided under KRS 248.654. All
investment income earned from moneys deposited in the fund shall accrue to the
fund. The moneys in the fund shall not lapse at the close of any fiscal year but shall
be carried forward in the next fiscal year for the purpose of the fund. The board shall
develop and oversee the implementation of a strategic plan. The strategic plan shall
identify both short-term and long-term goals and the appropriate oversights to
measure progress toward achievement of those goals, and it shall be updated every
two (2) years. The board shall submit an annual report to the Governor and the
Legislative Research Commission by September 1 of each year for the preceding
fiscal year, outlining its activities and expenditures. The Auditor of Public Accounts,
on an annual basis, shall conduct a thorough review of all expenditures from the
fund and, if necessary in the opinion of the Auditor, an audit of the operations of the
fund. No money in the fund shall be allocated until the board has adopted a strategic
plan.
Effective:April 26, 2000
History: Created 2000 Ky. Acts ch. 546, sec. 3, effective April 26, 2000.
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