Section
Financial Administration
33.01 Definitions
33.02 Accounting records and financial reports
33.03 Annual budget ordinance
33.04 Annual audit of city funds
33.05 Official depositories; disbursement of city funds
Improvements
33.15 Definitions
33.16 Financing of improvements
33.17 Apportionment of cost
33.18 Comprehensive report required
33.19 Public hearing required
33.20 Adoption of ordinance; notice to affected owners
33.21 Affected owner may contest
33.22 When city may proceed; assessment constitutes lien
33.23 Effect of additional property or change in financing
Self-Insurance
33.35 Participation in the Kentucky League of Cities Insurance Services
Collection of Occupational Taxes
33.45 Occupational taxes
33.46 Terms of collection
33.47 Authorization to enter into interlocal agreement
Taxation
33.60 County assessment adopted
33.61 Due date; payment
33.62 Delinquency
33.63 Ad valorem taxes on motor vehicles
33.64 Disposition of funds
33.65 Abandoned urban property
FINANCIAL ADMINISTRATION
For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BUDGET. A proposed plan for raising and spending money for specified programs, functions, activities or objectives during a fiscal year.
DEBT SERVICE. The sum of money required to pay installments of principal and interest on bonds, notes and other evidences of debt accruing within a fiscal year and to maintain sinking funds.
ENCUMBRANCES. Obligations in the form of purchase orders or contracts that are chargeable to an appropriation. An obligation ceases to be an ENCUMBRANCE when paid or when the actual liability is recorded.
FISCAL YEAR. The accounting period for the administration of fiscal operations.
GENERALLY ACCEPTED GOVERNMENTAL AUDITING STANDARDS. Those standards for audit of governmental organizations, programs, activities and functions issued by the Comptroller General of the United States.
GENERALLY ACCEPTED PRINCIPLES OF GOVERNMENTAL ACCOUNTING. Those standards and procedures promulgated and recognized by the Governmental Accounting Standards Board.
(KRS 91A.010) (`96 Code, § 33.01)
(A) The city shall keep its accounting records and render financial reports in such a way as to:
(1) Determine compliance with statutory provisions; and
(2) Determine fairly and with full disclosure the financial operations of constituent funds and account groups of the city in conformity with generally accepted governmental accounting principles.
(B) The municipal accounting system shall be organized and operated on a fund basis.
(KRS 91A.020) (`96 Code, § 33.02)
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