{"data":{"id":"us-ky/krs-224a.306","jurisdiction":"us-ky","citation":"KRS 224A.306","heading":"Conditions for receiving assistance from fund for water -related","body":"infrastructure projects.\n(1) The authority shall require the following as conditions for receiving assistance from\nany fund administered by the authority for infrastructure proj ects related to water\nand wastewater service:\n(a) Establishment and use of a financial accounting system that accounts for the\noperations of water treatment and distribution separately from all other\noperations of the applicant;\n(b) Establishment of servic e rates based upon the cost of providing the service;\nand\n(c) An agreement that the authority may require an audit to be conducted of the\napplicant at least once every two (2) years.\n(2) The authority shall require all applicants within a class to use the same accounting\nsystem. The authority may accept present accounting systems in use and applied\nuniformly to all applicants within a class, for example, the uniform system of\naccounts established by the National Association of Regulatory Utility\nCommissioners.\n(3) The authority may assist water providers to establish accounting systems that meet\nthe requirements of this section. The authority may provide assistance by paying for\nthird-party private contractors or assistance from the Kentucky Auditor of Publi c\nAccounts.\n(4) The authority may pay for costs related to establishing a new uniform accounting\nsystem for the use of governmental agencies that merge or consolidate their water\nservices if:\n(a) The merging or consolidating entities use different accounting systems; and\n(b) The merger or consolidation is consistent with a water management planning\ncouncil plan as reviewed and prioritized under KRS 151.607.","path":["KRS Chapter 224A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54163","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:43Z","sha256":"afc4b4dd86511505e0c48b5b3a9dbeae2ac7ccac2a8b090eac25e11a2bccf08b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-224a.304","next":"us-ky/krs-224a.308"},"notice":"GroundRules: Original legal text. Not legal advice."}