7B.080 Kentucky Long-Term Policy Research Center fund -- Investment of

225 words·~1 min read·/ky/7b-080

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moneys -- Appropriations.

(1)The operation of the center shall be funded from the restricted agency fund

established in subsection

(3)of this section.

(2)There is hereby established a fiduciary fund to be entitled the Kentucky Long-Term

Policy Research Center fund. The fund may receive appropriations, gifts, grants,

and federal funds. Moneys in the fund shall not lapse back to the General Fund at

the end of any fiscal year. Moneys in the fund shall be invested by the Office of

Financial Management within the Office of the Controller, consistent with the

provisions of KRS Chapter 42.

(3)A restricted agency fund account is established to receive the interest on the

fiduciary fund and any other resources made available to the center. Interest from

the fiduciary fund shall be credited to the restricted agency fund account on a

monthly basis for the center's operations. Moneys in the account shall be invested

by the Office of Financial Management within the Office of the Controller,

consistent with the provisions of KRS Chapter 42.

(4)Any appropriation by the General Assembly to the fiduciary fund shall remain

intact and shall not be available to the board, and should the center and its functions

terminate, the principal and any remaining interest from other accumulated funds

shall revert to the general fund of the Commonwealth or to the donor.