{"data":{"id":"us-ky/krs-164.802","jurisdiction":"us-ky","citation":"KRS 164.802","heading":"Kentucky State University -- Recognition and status -- State of financial","body":"exigency -- Operational restrictions and duties.\n(1) Kentucky State University, recognized as an 1890 land -grant university that is\nKentucky's only public Historically Black College or University (HBCU), shall be a\nfour (4) year residential polytechnic institution that focuses on highly technical,\nindustry-based applied learning and offers liberal studies and polytechnic programs\nthat are aligned with the workforce needs of the Commonwealth and consistent with\nthe historical mission of an HBCU.\n(2) The General Assembly declares that a state of financial exigency exists at Kentucky\nState University for five (5) years from April 13, 2026, or until such a date that the\nGeneral A ssembly affirmatively declares, based upon the recommendation of the\nCouncil on Postsecondary Education, that the university's finances are stable,\nwhichever occurs first.\n(3) (a) Kentucky State University shall not enter into any obligation or make any\nexpenditure costing twenty thousand dollars ($20,000) or more without prior\napproval of the Council on Postsecondary Education, including but not\nlimited to any purchase, contract, or increase due to a personnel action.\n(b) Kentucky State University shall:\n1. Provide a monthly report of university finances to the Council on\nPostsecondary Education in the format requested by the council. The\ncouncil shall provide a quarterly update on the financial status of the\nuniversity to the Governor and the Legislative Research Commission;\n2. Fully cooperate with the council in its exercise of the financial oversight\ngranted to the council under this subsection;\n3. Timely provide all information and documentation deemed by the\ncouncil to be relevant to the financial oversight; and\n4. Timely consult with the council on all major financial matters during the\nstate of financial exigency declared in subsection (2) of this section.\n(c) The financial oversight granted to the council under this subsection shall\ncontinue for the entire duratio n of the financial exigency declared in\nsubsection (2) of this section.\n(4) Notwithstanding KRS 164A.560, beginning no later than July 1, 2027, all financial\ntransactions of Kentucky State University shall be reported and reconciled no less\nthan monthly in  the Enhanced Management Administrative Reporting System\n(EMARS).\n(5) Kentucky State University shall not incur a budget deficit for the remaining\nduration of the financial exigency declared in subsection (2) of this section.","path":["KRS Chapter 164"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56863","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:18Z","sha256":"233dbec7aec5b7eaf203bee1acf59ec3dad9c01ebe239d2caafb5d69ad1451a3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164.800","next":"us-ky/krs-164.804"},"notice":"GroundRules: Original legal text. Not legal advice."}