48.010 Definitions for chapter.
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48.010 Definitions for chapter.
As used in this chapter, unless the context requires otherwise: <br>(1) "Account" is a technical accounting term meaning a formal record in which related
transactions and events, (i.e., expenditures, receipts, encumbrances, and inter-<br>account charges or credits) which occur during a specific period of time, are <br>summarized and accumulated;
(2) "Activities" means those actions or services performed by a budget unit which
depict in a quantitative manner the fulfillment of lawful purposes;
(3) Appropriation-related terms are defined for procedures prescribed by this chapter as
follows: <br>(a) "Appropriation" means an authorization by the General Assembly to expend a
sum of money not in excess of the sum specified, for the purposes specified in <br>the authorization and under the procedure prescribed in this chapter;
(b) "Appropriation provision" means a section of any enactment by the General
Assembly which is not provided for by this chapter and which authorizes the <br>expenditure of funds other than by a general appropriation bill; and
(c) "General appropriation bill" means an enactment by the General Assembly
that authorizes the expenditure of funds in a branch budget bill as provided for <br>by this chapter;
(4) "Biennial highway construction plan" means the specifically identified individual
transportation projects or portions thereof identified for funding during the <br>upcoming biennium, which correspond to the first two (2) years of the six (6) year <br>road plan;
(5) "Budget" means the complete financial plan for each fiscal year contained in a
branch budget bill provided for by this chapter;
(6) "Branch budget bill" or "branch budget" means an enactment by the General
Assembly which provides appropriations and establishes fiscal policies and <br>conditions for the biennial financial plan for the judicial branch, the legislative <br>branch, and the executive branch, which shall include a separate budget bill for the <br>Transportation Cabinet;
(7) "Branch budget recommendation" means the recommendations made to the General
Assembly by: <br>(a) The Governor for the executive branch, including a separate recommendation
for the Transportation Cabinet;
(b) The Chief Justice for the judicial branch; and <br>(c) The Legislative Research Commission for the legislative branch;
(8) "Budget unit request" means a detailed statement of the financial requirements of a
budget unit by principal budget class, and an estimate of its receipts and <br>expenditures for the next two (2) fiscal years, with the accompanying explanations <br>provided for by this chapter;
(9) "Budget unit" or "appropriation unit" means any subdivision of any branch of
government, however designated in any branch budget bill;
(10) "Capital outlay" means the exchange of values involved in acquiring lands,
buildings, equipment, or other permanent properties, or in their construction, <br>development, or permanent improvement;
(11) "Consensus forecasting group" means the group established by KRS 48.115 that is
responsible for developing consensus revenue forecasts for the Commonwealth;
(12) "Disbursement" means cash actually paid out for any purpose; <br>(13) "Enacted estimates" means the revenue estimates used by the General Assembly as
the basis for appropriations made in the enacted branch budget bills;
(14) "Expenditure" means cash actually paid out or an exchange of value for any
purpose;
(15) "Fund" means an independent fiscal and accounting entity with a self-balancing set
of accounts recording cash or other resources or both together with all related <br>liabilities, obligations, reserves, and equities which are segregated for the purpose <br>of carrying on specific activities in accordance with legal restrictions or other <br>limitations, to include: <br>(a) "General Fund." This fund shall consist of all moneys, not otherwise
restricted, available for the general operations of state government;
(b) "Bond Debt Related Fund." This fund shall consist of all outstanding bonded
debt liability and related funds of state government, including all revenue <br>bonds issued by or approved by the State Property and Buildings Commission. <br>Accounts necessary to assure integrity of trust indentures shall be maintained. <br>Funds appropriated for debt service shall be allotted to these accounts and any <br>excess of appropriation over net requirements for principal, interest, and <br>reserves for any issue shall lapse to the surplus account of the general fund if <br>general funds are a part of the appropriation for that budget unit;
(c) "Capital Construction Fund." This fund shall consist of moneys appropriated
under the provision of KRS 45.750 to 45.800 for capital construction projects, <br>except road construction projects, for all budget units of state government;
(d) "Federal Fund." This fund shall include all receipts from the federal
government for any purpose;
(e) "Fiduciary Fund." This fund shall consist of moneys held by a budget unit in a
trustee capacity;
(f) "Restricted Fund." This fund shall consist of budget unit receipts restricted as
to purpose by statute; and
(g) "Road Fund." This fund shall consist of money derived from excise or license
taxation relating to gasoline and other motor fuels, and moneys derived from <br>fees, excise or license taxation relating to registration, operation, or use of <br>vehicles for use on public highways. A separate record of each source of <br>receipt within this fund group shall be maintained;
(16) "Principal budget class" includes the following:
(a) "Capital outlay" means the exchange of values involved in acquiring lands,
buildings, or other permanent properties, or in their construction,
development, or permanent improvement estimated to cost less than six <br>hundred thousand dollars ($600,000), and items of equipment or other capital <br>items estimated to cost less than two hundred thousand dollars ($200,000);
(b) "Debt service" means the amount of money required to pay the interest,
principal, and required contributions to accumulate moneys for future <br>retirement of lawfully incurred debt;
(c) "Grants, loans, or benefits" means expenditures for any grant, aid, loan, or
relief payment to individuals, organizations, or jurisdictions not otherwise <br>classified pursuant to this chapter;
(d) "Operating expenses" means expenditures directly attributable to the operation
of state government not otherwise classified pursuant to this chapter; and
(e) "Personnel costs" means the salaries, wages, benefits (including but not
limited to, employer share of FICA, retirement contributions, insurance, <br>unemployment insurance, workers' compensation), and increments of all <br>officers and employees, and payment to persons awarded personal service <br>contracts;
(17) "Receipts" includes the following:
(a) "Nonrevenue receipts" means values accruing that either decrease an asset or
create a liability;
(b) "Operating receipts" means cash received by a budget unit for services
rendered, or from the sale of materials, goods, or supplies created by the <br>budget unit or of items held for resale; and
(c) "Revenue receipts" means values accruing as a result of taxation or revenues,
or both, and without resultant increase in liabilities or decrease in assets, <br>whether such values are represented by cash actually received or by amounts <br>due and payable, or partly by each;
(18) "Revenue shortfall" means either:
(a) An official revenue estimate for either the general fund or road fund that is
less than the enacted estimates; or
(b) Actual receipts at the end of the fiscal year for either the general fund or road
fund that are less than the enacted estimates, as determined by the Office of <br>State Budget Director;
(19) "Surplus" means the undesignated fiscal year ending fund balance for the general
fund or road fund, reduced by amounts designated to carry forward for <br>appropriation in a subsequent fiscal year;
(20) "Six (6) year road plan" means the road plan developed under KRS 176.430; and <br>(21) "Writing" or "written" means letters, words, or numbers, or their equivalent, set
down by handwriting, typewriting, printing, photostating, photographing, magnetic <br>impulse, mechanical or electronic recording, or other form of data compilation.
Effective: June 25, 2009 <br>History: Amended 2009 Ky. Acts ch. 78, sec. 1, effective June 25, 2009. -- Amended
1998 Ky. Acts ch. 120, sec. 21, effective July 15, 1998. -- Amended 1994 Ky. Acts
ch. 31, sec. 4, effective July 15, 1994; and ch. 387, sec. 1, effective July 15, 1994. -- <br>Amended 1990 Ky. Acts ch. 507, sec. 5, effective July 13, 1990. -- Created 1982 Ky. <br>Acts ch. 450, sec. 1, effective July 1, 1983.
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