2016 Kentucky Revised Statutes
CHAPTER 48 - BUDGET
.040 Budget forms -- Projections of actuarially required contribution rates -- Executive branch assistance in preparation of budgets.

Download as PDF 48.040 Budget forms -- Projections of actuarially required contribution rates -Executive branch assistance in preparation of budgets. (1) (2) (3) (4) (5) On or before April 1 of each odd-numbered year, representatives designated by the Governor, the Chief Justice and the Legislative Research Commission for their respective branches shall propose drafts of uniform forms to be used by all budget units in submitting their budget estimates, requests and recommendations, and shall recommend to the Legislative Research Commission such rules and regulations deemed necessary for the preparation of such budget estimates, requests and recommendations. On or before July 1 of each odd-numbered year, the Legislative Research Commission shall prescribe uniform forms, records, and instructions to be used by branch budget units. Included in such forms shall be a section requiring budget units to identify the amount of funds to be spent on agency publications. (a) On or before August 15 of each odd-numbered year, each of the stateadministered retirement systems as defined by KRS 6.350(5) shall submit to the state budget director's office and the Legislative Research Commission a preliminary projection of the actuarially required contribution rates payable for the budget biennium that begins in the following fiscal year. (b) On or before November 15 of each odd-numbered year, the state-administered retirement systems as defined by KRS 6.350(5) shall submit revised projections to the state budget director's office and the Legislative Research Commission, based upon the most recently completed actuarial valuation, of the actuarially required contribution rates payable for the budget biennium that begins in the following fiscal year. (c) The Legislative Research Commission shall distribute the information received under this subsection to the committee staff and co-chairs of any committee that has jurisdiction over a state-administered retirement system. On or before September 1 of each odd-numbered year, the Finance and Administration Cabinet shall supply each branch of government with at least three (3) complete sets of the prescribed uniform forms and instructions for the preparation of estimates and statements, and one (1) copy of the complete statement of the expenditures of each budget unit of the branch to aid each branch of government in preparing its estimates and statements. Upon request, the Finance and Administration Cabinet shall provide such additional assistance to each branch of government as may be required. Effective: July 15, 2016 History: Amended 2016 Ky. Acts ch. 133, sec. 7, effective July 15, 2016. -- Amended 1986 Ky. Acts ch. 303, sec. 1, effective July 15, 1986. -- Created 1982 Ky. Acts ch. 450, sec. 4, effective July 15, 1983.