Title 745 KAR — Kentucky State University

Chapter 1 Board of Regents

745 KAR 1:015 Fund acquisition and disbursement {#sec-745-kar-1-015 omnilex-key=us-ky-regs-official--title-745--745 KAR 1:015}

Section 1. The Board of Regents of Kentucky State University elects to perform the financial management functions set forth in KRS 164A.560(2), related to the receipt, deposit, collection, retention, investment, disbursement, and accounting of all funds, and set forth in KRS 164A.565 related to the installation of an accrual basis accounting system, other records, and annual reports.

Section 2. The Board of Regents of Kentucky State University elects to comply with KRS 164A.560(2)(b), to limit disbursements to the accounts and for the purposes for which the state appropriations, or other monies have been received for through the enacting resolution of the institution's annual operating budget.

Section 3. The Board of Regents of Kentucky State University shall install an accrual basis accounting system and fund structure in conformance with generally accepted accounting principles and procedures established for colleges and universities by the National Association of College and University Business Officers and the American Institute of Certified Public Accountants, and shall act to ensure further compliance with KRS 164A.565(2), (3), (6), (7), and (8).

History

• RELATES TO: KRS 164A.560, 164A.565
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing board of each public institution of higher education to elect to perform financial management functions in accordance with 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 Kentucky State University.
• History: 17 Ky.R. 3069; Am. 3452; eff. 6-7-91; Crt eff. 2-21-2020.

745 KAR 1:025 Institutional audit {#sec-745-kar-1-025 omnilex-key=us-ky-regs-official--title-745--745 KAR 1:025}

Section 1. The Board of Regents of Kentucky State University shall engage a qualified firm of certified public accountants for the purpose of submitting an independent opinion and preparing a report of findings and recommendations concerning internal accounting controls and procedures on the compliance with KRS 164A.555 to 164A.630. The engagement of the accounting 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 board of each public institution of higher education to elect to perform financial management functions in accordance with KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provision of KRS 164A.570 at Kentucky State University.
• History: 17 Ky.R. 3070; Am. 3453; eff. 6-7-91; Crt eff. 2-21-2020.

745 KAR 1:035 Procurement procedures {#sec-745-kar-1-035 omnilex-key=us-ky-regs-official--title-745--745 KAR 1:035}

Section 1. The Board of Regents of Kentucky State University, under the authorization of KRS 164A.560, elects to perform the financial management functions specified in KRS 164A.575, Sections (1), (2), (3), (4), (5), (6), (7), (8), (9), (11), (12), (13), (14), (15), (16), (17), and (18).

Section 2. The president of the university shall be authorized by the Board of Regents of Kentucky State University to perform the financial management functions specified in KRS 164A.575, Sections (1), (2), (3), (4), (5), (6), (7), (8), (9), (11), (12), (13), (14), (15), (16), (17), and (18).

Section 3. The president of the university shall be authorized by the Board of Regents of Kentucky State University to negotiate with vendors as authorized by KRS 164A.575.

History

• RELATES TO: KRS 164A.575
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 authorizes the governing board of a public institution of public higher education to elect to perform financial management functions in accordance with KRS 164A.555 to 164A.630 by promulgating administrative regulations and it also authorizes the board to delegate these responsibilities to an institution official. This administrative regulation implements the provisions of KRS 164A.560(1) and 164A.575 at Kentucky State University.
• History: 17 Ky.R. 3070; Am. 3453; eff. 6-7-1991; 19 Ky.R. 996; 1379; eff. 12-9-1992; Crt eff. 2-21-2020; 48 Ky.R. 1362, 2082; eff. 4-5-2022.

745 KAR 1:045 Bond issue {#sec-745-kar-1-045 omnilex-key=us-ky-regs-official--title-745--745 KAR 1:045}

Section 1. The Board of Regents of Kentucky State University, 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 board of each public institution of higher education to elect to perform financial management functions in accordance with KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provision of KRS 164A.605 at Kentucky State University.
• History: 17 Ky.R. 3071; Am. 3453; eff. 6-7-91; Crt eff. 2-21-2020.

745 KAR 1:055 Fund for excellence {#sec-745-kar-1-055 omnilex-key=us-ky-regs-official--title-745--745 KAR 1:055}

Section 1. The Board of Regents of Kentucky State University, under the provisions of KRS 164A.560, elects and authorizes the establishment of a fund for excellence under the conditions and for the purposes set forth in KRS 164A.620.

History

• RELATES TO: KRS 164.410, 164A.620
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.560 permits the governing board of each public institution of higher education to elect to perform financial management functions in accordance with KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provision of KRS 164A.620 at Kentucky State University.
• History: 17 Ky.R. 3072; Am. 3453; eff. 6-7-91; Crt eff. 2-21-2020.

745 KAR 1:060 Delegation of financial management responsibility {#sec-745-kar-1-060 omnilex-key=us-ky-regs-official--title-745--745 KAR 1:060}

Section 1. The Board of Regents of Kentucky State University authorizes the president, by formal, written assignment, to delegate any portion of this authority to the Vice President for Business Affairs, except as provided in Section 4 of this administrative regulation.

Section 2. Kentucky State University 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 Kentucky State University 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 Kentucky State University Board of Regents 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 Regents.

History

• RELATES TO: KRS 164A.555-164A.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. These administrative regulations implement the provision of KRS 164A.605 at Kentucky State University. The scheduled implementation date of this administrative regulation is July 1, 1986.
• History: 12 Ky.R. 1119; eff. 1-3-86; Crt eff. 2-21-2020.