194A.055 Kentucky Health Care Improvement Fund -- Purpose -- Source of moneys -- Strategic plan for fund distribution -- Annual report and audit.
Download pdf
Loading PDF...
<![CDATA[194A.055 Kentucky Health Care Improvement Fund -- Purpose -- Source of moneys -- Strategic plan for fund distribution -- Annual report and audit. There is established in the State Treasury a fund to be known as the "Kentucky Health <br>Care Improvement Fund." This fund shall exist for the purpose of receipt and expenditure <br>of moneys to improve health care and access to health insurance residents of the <br>Commonwealth. The fund may receive state appropriations, gifts, grants, and federal <br>funds and shall be disbursed by the State Treasury upon the warrant of the secretary of the <br>Cabinet for Health and Family Services. Beginning July 1, 2000, twenty-five percent <br>(25%) of the proceeds from the tobacco settlement agreement fund shall be deposited in <br>this fund as provided under KRS 248.654. All investment income earned from moneys <br>deposited in the fund shall accrue to the fund. The moneys in the fund shall not lapse at <br>the close of any fiscal year but shall be carried forward in the next fiscal year for the <br>purpose of the fund. The board shall develop and oversee the implementation of a <br>strategic plan. The strategic plan shall identify both short-term and long-term goals and <br>the appropriate oversights to measure progress toward achievement of those goals, and it <br>shall be updated every two (2) years. The board shall submit an annual report to the <br>Governor and the Legislative Research Commission by September 1 of each year for the <br>preceding fiscal year, outlining its activities and expenditures. The Auditor of Public <br>Accounts, on an annual basis, shall conduct a thorough review of all expenditures from <br>the fund and, if necessary in the opinion of the Auditor, an audit of the operations of the <br>fund. No money in the fund shall be allocated until the board has adopted a strategic plan. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 99, sec. 152, effective June 20, 2005. -- Created 2000 Ky. Acts ch. 546, sec. 4, effective April 26, 2000. ]]>