Section
Financial Administration
30.01 Definitions
30.02 Accounting records and financial reports
30.03 Annual budget ordinance
30.04 Annual audit of city funds
30.05 Official depositories; disbursement of city funds
Improvements
30.10 Definitions
30.11 Financing of improvements
30.12 Apportionment of cost
30.13 Comprehensive report required
30.14 Public hearing required
30.15 Adoption of ordinance; notice to affected owners
30.16 Affected owner may contest
30.17 When city may proceed; assessment constitutes lien
30.18 Effect of additional property or change in financing
Accounting Systems
30.25 Marina Recreation Facility
30.26 Water and Waste Collection Systems
FINANCIAL ADMINISTRATION
As used in this subchapter, unless the context otherwise requires, the following definitions shall apply:
“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 issued by the Comptroller General of the United States.
(KRS 91A.010 (6))
“GENERALLY ACCEPTED PRINCIPLES OF GOVERNMENTAL ACCOUNTING.” Those standards and procedures promulgated and recognized by the Governmental Accounting Standards Board. (KRS 91A.010 (7))
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