{"data":{"id":"us-ky/krs-41.070","jurisdiction":"us-ky","citation":"KRS 41.070","heading":"Moneys to be deposited in state depositories -- Exceptions -- Designated","body":"depositories -- Records of agencies.\n(1) Unless otherwise expressly provided by law, no receipts from any source of state\nmoney or money for which the state is responsibl e shall be held, used, or deposited\nin any personal or special bank account, temporarily or otherwise, by any agent or\nemployee of any budget unit, to meet expenditures or for any other purpose.\n(2) All receipts of any character of any budget unit, all rev enue collected for the state,\nand all public money and dues to the state shall be deposited in state depositories in\nthe most prompt and cost -efficient manner available. However in the case of state\ndepartments or agencies located outside Frankfort, and al l state institutions, the\nFinance and Administration Cabinet may permit temporary deposits to be made to\nthe accounts maintained by the agency, department, or institution in a state\ndepository for a period not to exceed thirty (30) days, and may require th at the\nmoney be forwarded to the State Treasury at the time and in the manner and form\nprescribed by the cabinet. Nothing in this section shall be construed as authorizing\nany representative of any agency, department, or institution to enforce or cash, eve n\nfor the purpose of a deposit, any check or other instrument of value payable to the\nCommonwealth or any agency thereof.\n(3) Each agency depositing its receipts directly with the State Treasurer shall do so in\nthe manner approved by the State Treasurer as  agent in charge of public fund\ndeposits.\n(4) The Department of Revenue may deposit receipts to the credit of the State Treasury\ndirectly with a state depository utilized by the Commonwealth for its primary\nbanking services. The State Treasurer, with the a pproval of the Finance and\nAdministration Cabinet, may authorize other agencies to deposit receipts directly\nwith a state depository to the credit of the State Treasury if the Treasurer prescribes\nthe manner in which the deposit is to be made, and the form s and reports to be filed\nwith the Treasury Department. The Finance and Administration Cabinet shall\nprescribe the forms and reports to be filed with it when this type of deposit is made.\n(5) Each department, agency, or other budget unit which receives fun ds to be deposited\ninto the State Treasury shall maintain records to report adequately each amount\nreceived, from whom received, and date received. Agency records shall be easily\nreconcilable with the information forwarded to the State Treasurer.","path":["KRS Chapter 41"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51342","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:00Z","sha256":"2f3ee8237f37bd04eec0edad980cd0213987b430fa508c702e15b6f88ca94984","source_id":"us-ky","stale":false,"prev":"us-ky/krs-41.060","next":"us-ky/krs-41.080"},"notice":"GroundRules: Original legal text. Not legal advice."}