157.410 Payments of funds to districts. - Kentucky Statutes

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Page 1 of 1 157.410 Payments of funds to districts. For each school year the Finance and Administration Cabinet, on the certification of the
chief state school officer, shall draw warrants on the State Treasurer for the amount of the
public school fund due each district. Checks shall be issued by the State Treasurer and
transmitted to the Department of Education or electronically transferred for distribution to
the proper officials of the school districts when the districts have fully complied with the
school laws and administrative regulations of the Kentucky Board of Education. The
chief state school officer shall determine on or before August 15 of each year the tentative
allotment of school funds to which each district is entitled under the provisions of KRS
157.310 to 157.440. On July 1, August 1, and September 1, of each fiscal year, one-
twelfth (1/12) of the prior year's allotment minus the capital outlay shall be paid each
school district. On the first of each month thereafter until the final calculation is
completed, one-twelfth (1/12) of each district's share of the tentative calculation minus
capital outlay shall be distributed. On or before May 1 of each year the chief state school
officer shall determine the exact amount of the public common school fund to which each
district is entitled and the remainder of the amount due each district for the year shall be
distributed in equal installments beginning the first month after completion of final
calculation and for each successive month thereafter. Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 389, sec. 5, effective July 14, 2000. -- Amended 1996 Ky. Acts ch. 362, sec. 6, effective July 15, 1996. -- Amended 1990 Ky. Acts
ch. 476, Pt. III, sec. 100, effective July 13, 1990. -- Amended 1984 Ky. Acts ch. 368,
sec. 3, effective July 13, 1984. -- Amended 1978 Ky. Acts ch. 155, sec. 82, effective
June 17, 1978. -- Created 1976 Ky. Acts ch. 93, sec. 30, effective July 1, 1976. History for former KRS 157.410. Repealed 1974 Ky. Acts ch. 363, sec. 18, effective June 30, 1976 -- Created 1954 Ky. Acts ch. 214, sec. 11, effective July 1, 1954.