{"data":{"id":"us-ky/krs-91a.010","jurisdiction":"us-ky","citation":"KRS 91A.010","heading":"Definitions for KRS 91A.010 to 91A.060.","body":"As used in KRS 91A.010 to 91A.060, unless the context otherwise requires:\n(1) \"Budget\" means a proposed plan for raising and spending money for specified\nprograms, functions, activities, or objectives during a fiscal year.\n(2) \"Debt service\" means the sum of money required to pay installments of principal\nand interest on bonds, notes, and other evidences of debt accruing within a fiscal\nyear and to maintain sinking funds.\n(3) \"Encumbrances\" means obligations in the form of purchase orders or contracts that\nare chargeable to an appropriation.  An obligation ceases to be an encumbrance\nwhen paid or when the actual liability is recorded.\n(4) \"Executive authority\" means the mayor in any city organized under the mayor -\ncouncil plan or mayor -aldermen plan, the comm ission in any city organized under\nthe commission plan, or the board in any city organized under the city manager\nplan.\n(5) \"Fiscal year\" means the accounting period for the administration of fiscal\noperations.\n(6) \"Generally accepted governmental auditing  standards\" means those standards for\naudit of governmental organizations, programs, activities, and functions issued by\nthe Comptroller General of the United States.\n(7) \"Generally accepted principles of governmental accounting\" mean those standards\nand p rocedures promulgated and recognized by the Governmental Accounting\nStandards Board.\n(8) \"Legislative body\" means the council in cities organized under the mayor -council\nplan, the board of aldermen in cities of the first class organized under the mayor -\naldermen plan, the commission in cities organized under the commission plan and\nthe board of commissioners in cities organized under the city manager plan.","path":["KRS Chapter 91A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=25559","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:49Z","sha256":"02d431284e58cc78b093010e79e9057bb503446d4db4a65f736c51dfe653336b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-91.990","next":"us-ky/krs-91a.020"},"notice":"GroundRules: Original legal text. Not legal advice."}