The secretary of the Finance and Administration Cabinet shall issue warrants authorizing the Treasurer of the Commonwealth of Kentucky to pay to the treasurer of each institution any amounts due by virtue of the state appropriations for that institution, or transfer the amount due electronically if electronic transfer is authorized by statute. The transfer of funds shall be handled in a manner to assure a zero (0) balance in the general fund account at the university.
KRS 164A.555
Transfer of funds to institutions
Applied in 1 court decision — leading case Jim Wayne in His Official Capacity as State Representative v. Commonwealth of Kentucky Office of the Governor Matthew Bevin in His Official Capacity as Governor (2016)
Most recently applied in Jim Wayne in His Official Capacity as State Representative v. Commonwealth of Kentucky Office of the Governor Matthew Bevin in His Official Capacity as Governor (September 2016)
Effective: July 15, 1982 History: Created 1982 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.