{"data":{"id":"us-ky/krs-160.550","jurisdiction":"us-ky","citation":"KRS 160.550","heading":"Expenditure of funds in excess of income and revenue of any year --","body":"Certification of school district -- Penalties.\n(1) No superintendent shall recommend and no board member shall knowingly vote for\nan expenditure in excess of the income and r evenue of any year, as shown by the\nworking budget adopted by the board and approved by the Kentucky Board of\nEducation, except for a purpose for which bonds have been voted or in case of an\nemergency declared by the Kentucky Board of Education.\n(2) Any school district having authorized an expenditure in violation of subsection (1)\nof this section may be so certified at any time by the Kentucky Board of Education.\nA district so certified shall thereafter, any contrary statutory provisions\nnotwithstanding, m ake no expenditure of money, give no authorization involving\nthe expenditure of money, and make no employment, purchase, or contract, unless\nthe chief state school officer has approved in writing, as fiscally sound and\nnecessary, the expenditure, authoriza tion, employment, purchase, or contract. Any\nexpenditure, authorization, employment, purchase, or contract made in violation of\nthis subsection shall be void.\n(3) Any school district subject to the provisions of subsection (2) of this section shall so\nremain until such time as the Kentucky Board of Education has approved, in\nconformity with KRS 160.461, a working budget for the district for a succeeding\nfiscal year.\n(4) In addition to the penalties set forth in KRS 160.990, any person who knowingly\nexpends or authorizes the expenditure of school district funds or who knowingly\nauthorizes or executes any employment, purchase, or contract, in violation of this\nsection, shall be jointly and severably liable in person and upon any official bond he\nhas given to s uch district to the extent of any payments on the void claim. For\npurposes of this section, \"knowingly\" shall mean a person acts with respect to\nconduct or to a circumstance described by a statute defining an offense when he is\naware that his conduct is of that nature or that the circumstance exists.","path":["KRS Chapter 160"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57656","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:08Z","sha256":"d6ed562f096e90527cba4e0dbb1be22404b04f90efffb004cc605b9dfdd81e1d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-160.540","next":"us-ky/krs-160.560"},"notice":"GroundRules: Original legal text. Not legal advice."}