KRS 48.010: Definitions for chapter.

As used in this chapter, unless the context requires otherwise:

(1) "Account" is a technical accounting term meaning a formal record in which related

transactions and events, (i.e., expenditures, receipts, encumbrances, and inter -

account charges or credits ) which occur during a specific period of time, are

summarized and accumulated;

(2) "Activities" means those actions or services performed by a budget unit which

depict in a quantitative manner the fulfillment of lawful purposes;

(3) Appropriation-related terms are defined for procedures prescribed by this chapter as

follows:

(a) "Appropriation" means an authorization by the General Assembly to expend a

sum of money not in excess of the sum specified, for the purposes specified in

the authorization and under the procedure prescribed in this chapter;

(b) "Appropriation provision" means a section of any enactment by the General

Assembly which is not provided for by this chapter and which authorizes the

expenditure of funds other than by a general appropriation bill; and

(c) "General appropriation bill" means an enactment by the General Assembly

that authorizes the expenditure of funds in a branch budget bill as provided for

by this chapter;

(4) "Biennial highway construction plan" means the specifically identif ied individual

transportation projects or portions thereof identified for funding during the

upcoming biennium, which correspond to the first two (2) years of the six (6) year

road plan;

(5) "Budget" means the complete financial plan for each fiscal year c ontained in a

branch budget bill provided for by this chapter;

(6) "Branch budget bill" or "branch budget" means an enactment by the General

Assembly which provides appropriations and establishes fiscal policies and

conditions for the biennial financial pl an for the judicial branch, the legislative

branch, and the executive branch, which shall include a separate budget bill for the

Transportation Cabinet;

(7) "Branch budget recommendation" means the recommendations made to the General

Assembly by:

(a) The Governor for the executive branch, including a separate recommendation

for the Transportation Cabinet;

(b) The Chief Justice for the judicial branch; and

(c) The Legislative Research Commission for the legislative branch;

(8) "Budget unit request" means a detailed statement of the financial requirements of a

budget unit by principal budget class, and an estimate of its receipts and

expenditures for the next two (2) fiscal years, with the accompanying explanations

provided for by this chapter;

(9) "Budget unit" or "appropriation unit" means any subdivision of any branch of

government, however designated in any branch budget bill;

(10) "Capital outlay" means the exchange of values involved in acquiring lands,

buildings, equipment, or other permanent properties, or in their construction,

development, or permanent improvement;

(11) "Consensus forecasting group" means the group established by KRS 48.115 that is

responsible for developing consensus revenue forecasts for the Commonwealth;

(12) "Disbursement" means cash actually paid out for any purpose;

(13) "Enacted estimates" means the revenue estimates used by the General Assembly as

the basis for appropriations made in the enacted branch budget bills;

(14) "Expenditure" means cash ac tually paid out or an exchange of value for any

purpose;

(15) "Fund" means an independent fiscal and accounting entity with a self -balancing set

of accounts recording cash or other resources or both together with all related

liabilities, obligations, reser ves, and equities which are segregated for the purpose

of carrying on specific activities in accordance with legal restrictions or other

limitations, to include:

(a) "General Fund." This fund shall consist of all moneys, not otherwise

restricted, available for the general operations of state government;

(b) "Bond Debt Related Fund." This fund shall consist of all outstanding bonded

debt liability and related funds of state government, including all revenue

bonds issued by or approved by the State Property and Buildings Commission.

Accounts necessary to assure integrity of trust indentures shall be maintained.

Funds appropriated for debt service shall be allotted to these accounts and any

excess of appropriation over net requirements for principal, interest, and

reserves for any issue shall lapse to the surplus account of the general fund if

general funds are a part of the appropriation for that budget unit;

(c) "Capital Construction Fund." This fund shall consist of moneys appropriated

under the provision of KRS 45.750 to 45.800 for capital construction projects,

except road construction projects, for all budget units of state government;

(d) "Federal Fund." This fund shall include all receipts from the federal

government for any purpose;

(e) "Fiduciary Fund." This fund shall consist of moneys held by a budget unit in a

trustee capacity;

(f) "Restricted Fund." This fund shall consist of budget unit receipts restricted as

to purpose by statute; and

(g) "Road Fund." This fund shall consist of money derived from e xcise or license

taxation relating to gasoline and other motor fuels, and moneys derived from

fees, excise or license taxation relating to registration, operation, or use of

vehicles for use on public highways. A separate record of each source of

receipt within this fund group shall be maintained;

(16) "Principal budget class" includes the following:

(a) "Capital outlay" means the exchange of values involved in acquiring lands,

buildings, or other permanent properties, or in their construction,

development, or permanent improvement estimated to cost less than six

hundred thousand dollars ($600,000), and items of equipment or other capital

items estimated to cost less than two hundred thousand dollars ($200,000);

(b) "Debt service" means the amount of money r equired to pay the interest,

principal, and required contributions to accumulate moneys for future

retirement of lawfully incurred debt;

(c) "Grants, loans, or benefits" means expenditures for any grant, aid, loan, or

relief payment to individuals, organiz ations, or jurisdictions not otherwise

classified pursuant to this chapter;

(d) "Operating expenses" means expenditures directly attributable to the operation

of state government not otherwise classified pursuant to this chapter; and

(e) "Personnel costs" means the salaries, wages, benefits (including but not

limited to, employer share of FICA, retirement contributions, insurance,

unemployment insurance, workers' compensation), and increments of all

officers and employees, and payment to persons awarded per sonal service

contracts;

(17) "Receipts" includes the following:

(a) "Nonrevenue receipts" means values accruing that either decrease an asset or

create a liability;

(b) "Operating receipts" means cash received by a budget unit for services

rendered, or fr om the sale of materials, goods, or supplies created by the

budget unit or of items held for resale; and

(c) "Revenue receipts" means values accruing as a result of taxation or revenues,

or both, and without resultant increase in liabilities or decrease in assets,

whether such values are represented by cash actually received or by amounts

due and payable, or partly by each;

(18) "Revenue shortfall" means either:

(a) An official revenue estimate for either the general fund or road fund that is

less than the enacted estimates; or

(b) Actual receipts at the end of the fiscal year for either the general fund or road

fund that are less than the enacted estimates, as determined by the Office of

State Budget Director;

(19) "Surplus" means the undesignated fiscal year ending fund balance for the general

fund or road fund, reduced by amounts designated to carry forward for

appropriation in a subsequent fiscal year;

(20) "Six (6) year road plan" means the road plan developed under KRS 176.430; and

(21) "Writing" or "written" means letters, words, or numbers, or their equivalent, set

down by handwriting, typewriting, printing, photostating, photographing, magnetic

impulse, mechanical or electronic recording, or other form of data compilation.