Title 765 KAR — University of Kentucky

Chapter 1 Board of Trustees

765 KAR 1:010 Acquisition and disbursement of funds, accounting system - records and annual report {#sec-765-kar-1-010 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:010}

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

Section 2. The University of Kentucky Board of Trustees elects to comply with KRS 164A.560, Section (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 University of Kentucky Board of Trustees shall use an accrual basis accounting system and fund structure that conforms 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 Sections (2), (3), (6), (7), and (8) of KRS 164A.565.

History

• RELATES TO: KRS 164A.560, 164A.565
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: The governing boards of the public institutions of higher education may elect to perform the financial management functions of 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 Kentucky.
• History: 17 Ky.R. 708; eff. 10-14-90; Crt eff. 2-12-2020.

765 KAR 1:020 Delegation of financial management responsibility {#sec-765-kar-1-020 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:020}

Section 1. The University of Kentucky Board of Trustees, under the provision of KRS 164A.560, elects to delegate responsibility for the financial management provisions of KRS 164A.560, 164A.565, 164A.575, 164A.580, 164A.585, 164A.590, 164A.595, 164A.600, and 164A.620 to the president of the university. Further, the Board of Trustees delegates to the president responsibility for submitting to the State Property and Buildings Commission information and requests for approval of any bond project approved by the Board of Trustees.

History

• RELATES TO: KRS 164A.560, 164A.565, 164A.575, 164A.580, 164A.585, 164A.590, 164A.595, 164A.600, 164A.620
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: The governing boards of the public institutions of higher education may elect to perform the 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.560 at the University of Kentucky.
• History: 17 Ky.R. 709; eff. 10-14-90; Crt eff. 2-12-2020.

765 KAR 1:030 Annual audit {#sec-765-kar-1-030 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:030}

Section 1. The University of Kentucky 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: The governing boards of the public institutions of higher education may elect to perform the 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.570 at the University of Kentucky.
• History: 17 Ky.R. 709; eff. 10-14-90; Crt eff. 2-12-2020.

765 KAR 1:040 Purchase - inventories - sales of surplus property - capital construction procedures {#sec-765-kar-1-040 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:040}

Section 1. The University of Kentucky 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 KRS 164A.575 and elects to manage and administer capital construction projects in accordance with KRS 164A.580, 164A.585, 164A.590, 164A.595 and 164A.600.

History

• RELATES TO: KRS 164A.575, 164A.580, 164A.585, 164A.590, 164A.595, 164A.600
• STATUTORY AUTHORITY: KRS 164A.560
• NECESSITY, FUNCTION, AND CONFORMITY: The governing boards of the public institutions of higher education may elect to perform the financial management functions of KRS 164A.555 to 164A.630 by issuing administrative regulations to do so. This administrative regulation implements the provisions of KRS 164A.575, 164A.580, 164A.585, 164A.590, 164A.595, and 164A.600 at the University of Kentucky.
• History: 17 Ky.R. 710; eff. 10-14-90; Crt eff. 2-12-2020.

765 KAR 1:050 Issuance of bonds {#sec-765-kar-1-050 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:050}

Section 1. The University of Kentucky Board of Trustees, under the provision 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: The governing boards of the public institutions of higher education may elect to perform the 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.605 at the University of Kentucky.
• History: 17 Ky.R. 711; eff. 10-14-90; Crt eff. 2-12-2020.

765 KAR 1:060 Fund for excellence {#sec-765-kar-1-060 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:060}

Section 1. The University of Kentucky 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 the public institutions of higher education may elect to perform the 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 Kentucky.
• History: 17 Ky.R. 712; eff. 10-14-90; Crt eff. 2-12-2020.

765 KAR 1:070 Affiliated corporations {#sec-765-kar-1-070 omnilex-key=us-ky-regs-official--title-765--765 KAR 1:070}

Section 1. The University of Kentucky Board of Trustees, under the 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: The governing boards of the public institutions of higher education may elect to perform the 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.610 at the University of Kentucky.
• History: 17 Ky.R. 712; eff. 10-14-90; Crt eff. 2-12-2020.