96A.360 Annual budget and report of transit authority required.
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Not less than annually any transit authority for the benefit of which a mass transportation program has been approved by the electorate of any public body, or by the electorate of its transit area in the event all public bodies comprising the membership of such transit authority have submitted such mass transportation program to the electorate of such transit area as provided by KRS 96A.310 to 96A.370, shall file with such public body or public bodies an annual budget of current expenses and an annual report, together with such other periodic reports and data as such public bodies may reasonably require and prescribe.
Such annual budget may be approved or disapproved by such public body or public bodies, or may be caused by such public body or public bodies to be revised, amended, or otherwise altered in the sound discretion of such public body or public bodies. Provided, however, that no disbursement of any funds within any mass transit trust fund shall be made until such annual budget shall in its final form be approved by the governing bodies of all such public bodies.