321.320 Revolving fund for administration -- Reserve fund.

351 words·~2 min read·/ky/chapter-321/321-320

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

(1)All fees and other moneys received by the board pursuant to the provisions of this

chapter shall be deposited in the State Treasury to the credit of a revolving fund for

the use of the board.

(a)No part of this revolving fund shall revert to the general funds of this

Commonwealth.

(b)Notwithstanding KRS 45.229, fund amounts not expended at the close of a

fiscal year shall not lapse but shall be carried forward into the next fiscal year.

(c)Any interest earnings of the fund shall become a part of the fund and shall not

lapse.

(3)All expenses incurred by the board shall be paid from this revolving fund,

including:

(a)The compensation of members of the board;

(b)Salaries, wages, and benefits of the employees of the board;

(c)Payment of contractors hired by the board;

(d)Administrative services provided to the board;

(e)Investigative and legal services;

(f)Court costs;

(g)Technology expenses related to administration of this chapter; and

(h)All other expenses incurred by the board.

(4)The board shall keep and maintain a reserve fund for capital, operational, and

programmatic expenses.

(5)Scholarships and other educational awards approved by the board for the purpose of

promoting persons entering into the fields of veterinary medicine shall be paid from

this revolving fund.

(6)The board may receive and expend funds, in addition to fees collected from parties

other than applicants and credential holders, provided that these funds shall be used

in the pursuit of a specific objective that the board may accomplish by this chapter

or which the board is qualified to accomplish by reason of its jurisdiction or

professional expertise.

(7)The board may direct investment of that portion of its revolving fund not needed to

meet current expenses, the earning from which investments shall also be credited to

the revolving fund of the board.

(8)The fund shall be held subject to the order of the board, and to be used for meeting

necessary expenses incurred in the performance of the purposes of this chapter and

the duties imposed thereby.