KRS 157.410: Payments of funds to districts.

For each school year the Finance and Administration Cabinet, on the certification of the

chief state school officer, shall draw warrants on the State Treasurer for the amount of the

public school fund due each district. Checks shall be issued by the State Treasurer and

transmitted to the Department of Education or electronically transferred for distribution

to the proper officials of the school districts when the districts have fully complied with

the school laws and administrative regulations of the Kentuc ky Board of Education. The

chief state school officer shall:

(1) Determine, on or before May 1 of each year, the estimated allotment of school

funds to which each district is entitled for the upcoming fiscal year under KRS

157.310 to 157.440. On July 1, Au gust 1, and September 1 of each fiscal year, one -

twelfth (1/12) of the estimated allotment shall be paid to each school district;

(2) Revise the estimated allotment on or before October 1 of each year. On October 1,

November 1, December 1, January 1, Febru ary 1, and March 1 of each fiscal year,

one-twelfth (1/12) of the revised estimated allotment shall be paid to each school

district; and

(3) Determine, on or before March 1 of each year, the exact final amount of the

common school funds to which each distr ict is entitled for the fiscal year. The

remainder of the amount due to each district for the fiscal year shall be distributed

in equal installments on April 1, May 1, and June 1 of each fiscal year.