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157.410 Payments of funds to districts.

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Page 1 of 1 157.410 Payments of funds to districts. For each school year the Finance and Administration Cabinet, on the certification of the <br>chief state school officer, shall draw warrants on the State Treasurer for the amount of the <br>public school fund due each district. Checks shall be issued by the State Treasurer and <br>transmitted to the Department of Education or electronically transferred for distribution to <br>the proper officials of the school districts when the districts have fully complied with the <br>school laws and administrative regulations of the Kentucky Board of Education. The <br>chief state school officer shall determine on or before August 15 of each year the tentative <br>allotment of school funds to which each district is entitled under the provisions of KRS <br>157.310 to 157.440. On July 1, August 1, and September 1, of each fiscal year, one-<br>twelfth (1/12) of the prior year's allotment minus the capital outlay shall be paid each <br>school district. On the first of each month thereafter until the final calculation is <br>completed, one-twelfth (1/12) of each district's share of the tentative calculation minus <br>capital outlay shall be distributed. On or before May 1 of each year the chief state school <br>officer shall determine the exact amount of the public common school fund to which each <br>district is entitled and the remainder of the amount due each district for the year shall be <br>distributed in equal installments beginning the first month after completion of final <br>calculation and for each successive month thereafter. Effective: July 14, 2000 <br>History: Amended 2000 Ky. Acts ch. 389, sec. 5, effective July 14, 2000. -- Amended 1996 Ky. Acts ch. 362, sec. 6, effective July 15, 1996. -- Amended 1990 Ky. Acts <br>ch. 476, Pt. III, sec. 100, effective July 13, 1990. -- Amended 1984 Ky. Acts ch. 368, <br>sec. 3, effective July 13, 1984. -- Amended 1978 Ky. Acts ch. 155, sec. 82, effective <br>June 17, 1978. -- Created 1976 Ky. Acts ch. 93, sec. 30, effective July 1, 1976. History for former KRS 157.410. Repealed 1974 Ky. Acts ch. 363, sec. 18, effective June 30, 1976 -- Created 1954 Ky. Acts ch. 214, sec. 11, effective July 1, 1954.