160.550 Expenditure of funds in excess of income and revenue of any year.

317 words·~1 min read·/ky/chapter-160/160-550

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)No superintendent shall recommend and no board member shall knowingly vote for

an expenditure in excess of the income and revenue of any year, as shown by the

budget adopted by the board and approved by the Kentucky Board of Education,

except for a purpose for which bonds have been voted or in case of an emergency

declared by the Kentucky Board of Education.

(2)Any school district having authorized an expenditure in violation of subsection

of this section may be so certified at any time by the Kentucky Board of Education.

A district so certified shall thereafter, any contrary statutory provisions

notwithstanding, make no expenditure of money, give no authorization involving

the expenditure of money, and make no employment, purchase, or contract, unless

the chief state school officer has approved in writing, as fiscally sound and

necessary, the expenditure, authorization, employment, purchase, or contract. Any

expenditure, authorization, employment, purchase, or contract made in violation of

this subsection shall be void.

(3)Any school district subject to the provisions of subsection

(2)of this section shall so

remain until such time as the Kentucky Board of Education has approved, in

conformity with KRS 160.470, a budget for the district for a succeeding fiscal year.

(4)In addition to the penalties set forth in KRS 160.990, any person who knowingly

expends or authorizes the expenditure of school district funds or who knowingly

authorizes or executes any employment, purchase, or contract, in violation of this

section, shall be jointly and severably liable in person and upon any official bond he

has given to such district to the extent of any payments on the void claim. For

purposes of this section, "knowingly" shall mean a person acts with respect to

conduct or to a circumstance described by a statute defining an offense when he is

aware that his conduct is of that nature or that the circumstance exists.