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KENTUCKY STATUTES AND CODES
200.151 Early childhood development fund -- Purpose -- Source of moneys -- Strategic plan for fund distribution -- Annual report and audit.
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200.151 Early childhood development fund -- Purpose -- Source of moneys -- Strategic plan for fund distribution -- Annual report and audit. There is established in the State Treasury a fund to be known as the "Early Childhood
Development Fund." This fund shall exist for the purpose of receipt and expenditure of
moneys to improve and promote early childhood development for children of the
Commonwealth. The fund may receive state appropriations, gifts, grants, and federal
funds and shall be disbursed by the State Treasurer upon the warrant of the chair of the
early childhood development board. Beginning July 1, 2000, twenty-five percent (25%) of
the proceeds from the tobacco settlement agreement fund shall be deposited in this fund
as provided under KRS 248.654. All investment income earned from moneys deposited in
the fund shall accrue to the fund. The moneys in the fund shall not lapse at the close of
any fiscal year but shall be carried forward in the next fiscal year for the purpose of the
fund. The board shall develop and oversee the implementation of a strategic plan. The
strategic plan shall identify both short-term and long-term goals and the appropriate
oversights to measure progress toward achievement of those goals, and it shall be updated
every two (2) years. The board shall submit an annual report to the Governor and the
Legislative Research Commission by September 1 of each year for the preceding fiscal
year, outlining its activities and expenditures. The Auditor of Public Accounts, on an
annual basis, shall conduct a thorough review of all expenditures from the fund and, if
necessary in the opinion of the Auditor, an audit of the operations of the fund. No money
in the fund shall be allocated until the board has adopted a strategic plan. Effective: April 26, 2000
History: Created 2000 Ky. Acts ch. 546, sec. 3, effective April 26, 2000.
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200.151 Early childhood development fund -- Purpose -- Source of moneys -- Strategic plan for fund distribution -- Annual report and audit. There is established in the State Treasury a fund to be known as the "Early Childhood
Development Fund." This fund shall exist for the purpose of receipt and expenditure of
moneys to improve and promote early childhood development for children of the
Commonwealth. The fund may receive state appropriations, gifts, grants, and federal
funds and shall be disbursed by the State Treasurer upon the warrant of the chair of the
early childhood development board. Beginning July 1, 2000, twenty-five percent (25%) of
the proceeds from the tobacco settlement agreement fund shall be deposited in this fund
as provided under KRS 248.654. All investment income earned from moneys deposited in
the fund shall accrue to the fund. The moneys in the fund shall not lapse at the close of
any fiscal year but shall be carried forward in the next fiscal year for the purpose of the
fund. The board shall develop and oversee the implementation of a strategic plan. The
strategic plan shall identify both short-term and long-term goals and the appropriate
oversights to measure progress toward achievement of those goals, and it shall be updated
every two (2) years. The board shall submit an annual report to the Governor and the
Legislative Research Commission by September 1 of each year for the preceding fiscal
year, outlining its activities and expenditures. The Auditor of Public Accounts, on an
annual basis, shall conduct a thorough review of all expenditures from the fund and, if
necessary in the opinion of the Auditor, an audit of the operations of the fund. No money
in the fund shall be allocated until the board has adopted a strategic plan. Effective: April 26, 2000
History: Created 2000 Ky. Acts ch. 546, sec. 3, effective April 26, 2000.
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