Statutes > Kentucky Statutes > CHAPTER 42 FINANCE AND ADMINISTRATION CABINET > 42.460 Independent annual audit and certification of compliance -- Exception.

42.460 Independent annual audit and certification of compliance -- Exception.

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42.460 Independent annual audit and certification of compliance -- Exception. Except as provided in KRS 91A.040(4)(b), any assistance granted under KRS 42.450 to <br>42.495 shall include an agreement that an independent annual audit shall be conducted <br>and that the audit report shall include a certification that the funds were expended for the <br>purpose intended. A copy of the audit and certification of compliance shall be forwarded <br>to the Department for Local Government, in the case of assistance granted from the local <br>government economic assistance fund or the local government economic development <br>fund as allocated in KRS 42.4592(1)(a) and (b), or to the Cabinet for Economic <br>Development and the Kentucky Economic Development Finance Authority, in the case of <br>assistance granted from the local government economic development fund, within <br>eighteen (18) months after the end of the fiscal year. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 117, sec. 28, effective July 15, 2010. -- Amended 2007 Ky. Acts ch. 47, sec. 22, effective June 26, 2007. -- Amended 2006 Ky. Acts <br>ch. 210, sec. 4, effective July 12, 2006. -- Amended 2002 Ky. Acts ch. 338, sec. 46, <br>effective July 15, 2002. -- Amended 2001 Ky. Acts ch. 34, sec. 4, effective June 21, <br>2001. -- Amended 1998 Ky. Acts ch. 69, sec. 13, effective July 15, 1998. -- Amended <br>1994 Ky. Acts ch. 499, sec. 8, effective July 15, 1994. </p> <BR></DIV><!-- /.col.one --><!-- /.col.two --></DIV><!-- /.col.main --></DIV><!-- /div id = content --> <BR class=clear></DIV> <!-- /div id = livearea --> <DIV></DIV><!-- /.col.one --> <DIV></DIV><!-- /.col.main --> <DIV></DIV><!-- /#content --><BR class=clear> <DIV></DIV><!-- /#livearea --> <!-- Footer--> <DIV id=footer> <DIV class=container> <P class=copyright>Copyright &copy; 2012-2022 Laws9.Com All rights reserved. </P><!-- /.copyright --> <P class=footerlinks><A href="/contactus.html">Contact Us</A> | <A href="/aboutus.html">About Us</A> | <A href="/terms.html">Terms</A> | <A href="/privacy.html">Privacy</A></P><!-- /.footerlinks --> </DIV><!-- /.container --> </DIV><!-- /footer --> </BODY></HTML>