48.040 Budget forms -- Projections of actuarially required contribution rates --

371 words·~2 min read·/ky/48-040

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Executive branch assistance in preparation of budgets.

(1)On or before April 1 of each odd-numbered year, representatives designated by the

Governor, the Chief Justice, and the Legislative Research Commission for their

respective branches shall propose drafts of uniform forms to be used by all budget

units in submitting their budget estimates, requests and recommendations, and shall

recommend to the Legislative Research Commission such rules and regulations

deemed necessary for the preparation of such budget estimates, requests and

recommendations.

(2)On or before June 1 of each odd-numbered year, the Legislative Research

Commission shall prescribe uniform forms, records, and instructions to be used by

branch budget units. Included in such forms shall be a section requiring budget

units to identify the amount of funds to be spent on agency publications.

(a)On or before August 15 of each odd-numbered year, each of the state-

administered retirement systems as defined by KRS 6.350(5) shall submit to

the state budget director's office and the Legislative Research Commission a

preliminary projection of the actuarially required contribution rates payable

for the budget biennium that begins in the following fiscal year.

(b)On or before October 1 of each odd-numbered year, the state-administered

retirement systems as defined by KRS 6.350(5) shall submit revised

projections to the state budget director's office and the Legislative Research

Commission, based upon the most recently completed actuarial valuation, of

the actuarially required contribution rates payable for the budget biennium

that begins in the following fiscal year.

(c)The Legislative Research Commission shall distribute the information

received under this subsection to the committee staff and co-chairs of any

committee that has jurisdiction over a state-administered retirement system.

(4)On or before August 1 of each odd-numbered year, the Finance and Administration

Cabinet shall supply each branch of government with at least three

(3)complete

sets of the prescribed uniform forms and instructions for the preparation of

estimates and statements, and one

(1)copy of the complete statement of the

expenditures of each budget unit of the branch to aid each branch of government in

preparing its estimates and statements.

(5)Upon request, the Finance and Administration Cabinet shall provide such additional

assistance to each branch of government as may be required.