Title 740 KAR — University of Louisville

Chapter 1 Board of Trustees

740 KAR 1:010 Acquisition and disbursement of funds, accounting system and reports {#sec-740-kar-1-010 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:010}

Section 1. The Board of Trustees of the University of Louisville elects to perform the financial management functions set forth in KRS 164A.560, Section 2, relating to the receipt, deposit, collection, retention, investment, disbursement, and accounting of all funds; and KRS 164.565 related to installation of an accrual basis accounting system, other records and reports.

Section 2. The University of Louisville Board of Trustees elects to comply with KRS 164A.560, Section (2)(b) to limit disbursements as provided therein by requiring that all disbursements and income shall be reported on financial statements presented regularly to the Board of Trustees or its committees, consistent with generally acceptable accounting principles, institutional policies, and budget enactments of the Board of Trustees. All such financial statements shall be reconciled with the institutional accounting system.

Section 3. These functions of the treasurer may be carried out by the Vice-president for Administration and such assistants, controllers, accountants, and cashiers as the president may authorize.

History

• RELATES TO: KRS 164A.560, 164A.565
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits governing boards of each public institution of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.560 and 164A.565 at the University of Louisville.
• History: 9 Ky.R. 522; eff. 11-3-82; Am. 18 Ky.R. 2380; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:020 Annual audit {#sec-740-kar-1-020 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:020}

Section 1. The University of Louisville Board of Trustees elects to engage a qualified firm of certified public accountants for the purpose of submitting an independent opinion concerning the internal accounting controls and compliance with the provisions of KRS 164A.560, 164A.565, 164A.575, and 164A.620. The engagement of the qualified firm, scope of the audit, and report of findings shall be in accordance with the provisions of KRS 164A.570.

History

• RELATES TO: KRS 164A.570
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing boards of each public institution of higher education to elect to perform financial management functions per KRS 164A.555 through 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provision of KRS 164A.570 at the University of Louisville.
• History: 9 Ky.R. 521; eff. 11-3-82; Am. 18 Ky.R. 2381; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:030 Purchasing; inventories; sales of surplus property; bidding procedures {#sec-740-kar-1-030 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:030}

Section 1. The University of Louisville Board of Trustees, under the provisions of KRS 164A.560, elects to purchase and manage interests in real property, contractual services, rentals of all types, supplies, materials, equipment, printing, and services in accordance with Sections (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), and (12).

Section 2. The president shall recommend to the Board of Trustees internal policies and procedures including prescribed forms and manuals, as he deems necessary, for approval. These materials shall provide detailed instructions to administrators and staff of the university day-to-day management of the business affairs of the university as prescribed in the published administrative regulations pertaining to financial management, applicable portions of KRS Chapters 45A, 164, 164A, and other laws. Exceptions to these internal procedures and policies shall be made only as provided for in these documents, which shall be made available to the public upon request. The president is authorized to enter into any memorandum of agreement deemed necessary to coordinate financial management responsibilities with agencies of state government.

History

• RELATES TO: KRS 164.410, 164A.575
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing boards of public institutions of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.575 at the University of Louisville.
• History: 9 Ky.R. 522; eff. 11-3-82; Am. 18 Ky.R. 2382; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:040 Disposal of property proceeds; title {#sec-740-kar-1-040 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:040}

Section 1. The University of Louisville Board of Trustees elects to dispose of surplus property in accordance with the provisions of KRS 164.410, Sections (1), (2), and (3).

History

• RELATES TO: KRS 164.410
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing boards of public institutions of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164.410 at the University of Louisville.
• History: 9 Ky.R. 523; eff. 11-3-82; Am. 18 Ky.R. 2384; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:050 Management of capital construction projects {#sec-740-kar-1-050 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:050}

Section 1. Subject to the provisions of KRS 45.750 through 45.800 and 56.870 to 56.874, the University of Louisville Board of Trustees elects to adopt the management and administration procedures set forth in KRS 164A.580, Sections (1), (2), (3), (4), (5), (6), (7), and (8).

History

• RELATES TO: KRS 164A.580
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing boards of public institutions of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.580 at the University of Louisville.
• History: 9 Ky.R. 523; eff. 11-3-82; Am. 18 Ky.R. 2385; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:060 Contracting for capital construction projects {#sec-740-kar-1-060 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:060}

Section 1. The University of Louisville Board of Trustees, under the provisions of KRS 164A.560, elects to manage and administer capital construction projects in accordance with 164A.585, 164A.590, 164A.595, and 164A.600.

History

• RELATES TO: KRS 164A.585, 164A.590, 164A.595, 164A.600
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits governing boards of public institutions of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.585 at the University of Louisville.
• History: 9 Ky.R. 524; eff. 11-3-82; Am. 18 Ky.R. 2386; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:080 Affiliated corporations {#sec-740-kar-1-080 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:080}

Section 1. The University of Louisville Board of Trustees, under provisions of KRS 164A.560, elects to organize and operate one (1) or more affiliated corporations in accordance with KRS 164A.610.

History

• RELATES TO: KRS 164A.610
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits governing boards of public institutions of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.610 at the University of Louisville.
• History: 9 Ky.R. 525; eff. 11-3-82; Am. 18 Ky.R. 2387; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:090 Fund for excellence {#sec-740-kar-1-090 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:090}

Section 1. The University of Louisville Board of Trustees, under the provisions of KRS 164A.560, elects and authorizes the establishment of a fund for excellence under the conditions and for the purpose as set forth in KRS 164A.620.

History

• RELATES TO: KRS 164A.410, 164A.620
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: The governing boards of public institutions of higher education may elect to perform financial management functions of KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provision of KRS 164A.620 at the University of Louisville.
• History: 9 Ky.R. 525; eff. 11-3-82; Am. 18 Ky.R. 2388; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:100 Issuance of bonds {#sec-740-kar-1-100 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:100}

Section 1. The University of Louisville Board of Trustees, under the provisions of KRS 164A.560, elects the authority to issue bonds subject to the conditions as set forth in KRS 164A.605.

History

• RELATES TO: KRS 164A.605
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing boards of public institutions of higher education to elect to perform financial management functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.605 at the University of Louisville.
• History: 9 Ky.R. 526; eff. 11-3-82; Am. 18 Ky.R. 2389; eff. 3-4-92; Crt eff. 2-5-2020.

740 KAR 1:110 Delegation of financial management responsibility {#sec-740-kar-1-110 omnilex-key=us-ky-regs-official--title-740--740 KAR 1:110}

Section 1. The Board of Trustees of the University of Louisville authorizes the president, by formal, written assignment, to delegate any portion of his authority conferred by financial management administrative regulations, 740 KAR 1:010 to 740 KAR 1:090, to the Vice President for Administration except as provided in Section 4 of this administrative regulation.

Section 2. University of Louisville officials, to whom the president has delegated certain financial management responsibilities pursuant to this administrative regulation, are authorized to subdelegate those responsibilities or any portion thereof to their deputies and subordinates to the extent authorized by the president. All such subdelegations shall be made in writing and reported to the president.

Section 3. Any University of Louisville official with authority derived from a delegation or subdelegation under this administrative regulation shall furnish a copy of his delegation or subdelegation upon request of any vendor or member of the public. All such delegations or subdelegations are terminated immediately upon suspension of the individual's employment at the university.

Section 4. No official, including the president, is authorized by the University of Louisville Board of Trustees to acquire or dispose of an interest in real property, the duration of which interest exceeds two (2) years time, without action of the Board of Trustees or its Executive Committee.

History

• RELATES TO: KRS 164A.560
• STATUTORY AUTHORITY: KRS 164A.555-164A.605
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560(1) permits governing boards of each public institution of higher education which has elected by administrative regulation to implement the financial management functions authorized by KRS 164A.555 to 164A.630 to delegate those responsibilities by administrative regulation to appropriate officials of the university. This administrative regulation provides for such delegations.
• History: 9 Ky.R. 526; eff. 11-3-82; Crt eff. 2-5-2020.