{"data":{"id":"us-ky/krs-48.010","jurisdiction":"us-ky","citation":"KRS 48.010","heading":"Definitions for chapter.","body":"As used in this chapter, unless the context requires otherwise:\n(1) \"Account\" is a technical accounting term meaning a formal record in which related\ntransactions and events, (i.e., expenditures, receipts, encumbrances, and inter -\naccount charges or credits ) which occur during a specific period of time, are\nsummarized and accumulated;\n(2) \"Activities\" means those actions or services performed by a budget unit which\ndepict in a quantitative manner the fulfillment of lawful purposes;\n(3) Appropriation-related terms are defined for procedures prescribed by this chapter as\nfollows:\n(a) \"Appropriation\" means an authorization by the General Assembly to expend a\nsum of money not in excess of the sum specified, for the purposes specified in\nthe authorization and under the procedure prescribed in this chapter;\n(b) \"Appropriation provision\" means a section of any enactment by the General\nAssembly which is not provided for by this chapter and which authorizes the\nexpenditure of funds other than by a general appropriation bill; and\n(c) \"General appropriation bill\" means an enactment by the General Assembly\nthat authorizes the expenditure of funds in a branch budget bill as provided for\nby this chapter;\n(4) \"Biennial highway construction plan\" means the specifically identif ied individual\ntransportation projects or portions thereof identified for funding during the\nupcoming biennium, which correspond to the first two (2) years of the six (6) year\nroad plan;\n(5) \"Budget\" means the complete financial plan for each fiscal year c ontained in a\nbranch budget bill provided for by this chapter;\n(6) \"Branch budget bill\" or \"branch budget\" means an enactment by the General\nAssembly which provides appropriations and establishes fiscal policies and\nconditions for the biennial financial pl an for the judicial branch, the legislative\nbranch, and the executive branch, which shall include a separate budget bill for the\nTransportation Cabinet;\n(7) \"Branch budget recommendation\" means the recommendations made to the General\nAssembly by:\n(a) The Governor for the executive branch, including a separate recommendation\nfor the Transportation Cabinet;\n(b) The Chief Justice for the judicial branch; and\n(c) The Legislative Research Commission for the legislative branch;\n(8) \"Budget unit request\" means a detailed statement of the financial requirements of a\nbudget unit by principal budget class, and an estimate of its receipts and\nexpenditures for the next two (2) fiscal years, with the accompanying explanations\nprovided for by this chapter;\n(9) \"Budget unit\" or \"appropriation unit\" means any subdivision of any branch of\ngovernment, however designated in any branch budget bill;\n(10) \"Capital outlay\" means the exchange of values involved in acquiring lands,\nbuildings, equipment,  or other permanent properties, or in their construction,\ndevelopment, or permanent improvement;\n(11) \"Consensus forecasting group\" means the group established by KRS 48.115 that is\nresponsible for developing consensus revenue forecasts for the Commonwealth;\n(12) \"Disbursement\" means cash actually paid out for any purpose;\n(13) \"Enacted estimates\" means the revenue estimates used by the General Assembly as\nthe basis for appropriations made in the enacted branch budget bills;\n(14) \"Expenditure\" means cash ac tually paid out or an exchange of value for any\npurpose;\n(15) \"Fund\" means an independent fiscal and accounting entity with a self -balancing set\nof accounts recording cash or other resources or both together with all related\nliabilities, obligations, reser ves, and equities which are segregated for the purpose\nof carrying on specific activities in accordance with legal restrictions or other\nlimitations, to include:\n(a) \"General Fund.\" This fund shall consist of all moneys, not otherwise\nrestricted, available for the general operations of state government;\n(b) \"Bond Debt Related Fund.\" This fund shall consist of all outstanding bonded\ndebt liability and related funds of state government, including all revenue\nbonds issued by or approved by the State Property and Buildings Commission.\nAccounts necessary to assure integrity of trust indentures shall be maintained.\nFunds appropriated for debt service shall be allotted to these accounts and any\nexcess of appropriation over net requirements for principal, interest, and\nreserves for any issue shall lapse to the surplus account of the general fund if\ngeneral funds are a part of the appropriation for that budget unit;\n(c) \"Capital Construction Fund.\" This fund shall consist of moneys appropriated\nunder the provision of KRS 45.750 to 45.800 for capital construction projects,\nexcept road construction projects, for all budget units of state government;\n(d) \"Federal Fund.\" This fund shall include all receipts from the federal\ngovernment for any purpose;\n(e) \"Fiduciary Fund.\" This fund shall consist of moneys held by a budget unit in a\ntrustee capacity;\n(f) \"Restricted Fund.\" This fund shall consist of budget unit receipts restricted as\nto purpose by statute; and\n(g) \"Road Fund.\" This fund shall consist of money derived from e xcise or license\ntaxation relating to gasoline and other motor fuels, and moneys derived from\nfees, excise or license taxation relating to registration, operation, or use of\nvehicles for use on public highways. A separate record of each source of\nreceipt within this fund group shall be maintained;\n(16) \"Principal budget class\" includes the following:\n(a) \"Capital outlay\" means the exchange of values involved in acquiring lands,\nbuildings, or other permanent properties, or in their construction,\ndevelopment, or permanent improvement estimated to cost less than six\nhundred thousand dollars ($600,000), and items of equipment or other capital\nitems estimated to cost less than two hundred thousand dollars ($200,000);\n(b) \"Debt service\" means the amount of money r equired to pay the interest,\nprincipal, and required contributions to accumulate moneys for future\nretirement of lawfully incurred debt;\n(c) \"Grants, loans, or benefits\" means expenditures for any grant, aid, loan, or\nrelief payment to individuals, organiz ations, or jurisdictions not otherwise\nclassified pursuant to this chapter;\n(d) \"Operating expenses\" means expenditures directly attributable to the operation\nof state government not otherwise classified pursuant to this chapter; and\n(e) \"Personnel costs\" means the salaries, wages, benefits (including but not\nlimited to, employer share of FICA, retirement contributions, insurance,\nunemployment insurance, workers' compensation), and increments of all\nofficers and employees, and payment to persons awarded per sonal service\ncontracts;\n(17) \"Receipts\" includes the following:\n(a) \"Nonrevenue receipts\" means values accruing that either decrease an asset or\ncreate a liability;\n(b) \"Operating receipts\" means cash received by a budget unit for services\nrendered, or fr om the sale of materials, goods, or supplies created by the\nbudget unit or of items held for resale; and\n(c) \"Revenue receipts\" means values accruing as a result of taxation or revenues,\nor both, and without resultant increase in liabilities or decrease in  assets,\nwhether such values are represented by cash actually received or by amounts\ndue and payable, or partly by each;\n(18) \"Revenue shortfall\" means either:\n(a) An official revenue estimate for either the general fund or road fund that is\nless than the enacted estimates; or\n(b) Actual receipts at the end of the fiscal year for either the general fund or road\nfund that are less than the enacted estimates, as determined by the Office of\nState Budget Director;\n(19) \"Surplus\" means the undesignated fiscal year ending fund balance for the general\nfund or road fund, reduced by amounts designated to carry forward for\nappropriation in a subsequent fiscal year;\n(20) \"Six (6) year road plan\" means the road plan developed under KRS 176.430; and\n(21) \"Writing\" or \"written\" means letters, words, or numbers, or their equivalent, set\ndown by handwriting, typewriting, printing, photostating, photographing, magnetic\nimpulse, mechanical or electronic recording, or other form of data compilation.","path":["KRS Chapter 48"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22534","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:09Z","sha256":"a0102a806959f3f9514ec4b599cb227c902826add0d6c199c74996695f9eb67c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-48.005","next":"us-ky/krs-48.020"},"notice":"GroundRules: Original legal text. Not legal advice."}