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State statutes and regulations

State statutes and regulations. Kentucky Department of Education Division of District Support Services District Funding & Reporting Branch. KRS 45A.080 Model Procurement. Requires competitive bidding in almost all circumstances Specific exceptions Emergency Sole source

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State statutes and regulations

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  1. State statutes and regulations Kentucky Department of Education Division of District Support Services District Funding & Reporting Branch

  2. KRS 45A.080 Model Procurement • Requires competitive bidding in almost all circumstances • Specific exceptions • Emergency • Sole source • Professional services • Perishable • Some insurance • Small purchase procedures > $20,000

  3. KRS 424.260 702 KAR 3:135Bid Law • Must comply unless Model Procurement is adopted • About 75% use Model Procurement • Sealed bids over $20,000 • Over $7500 for construction, additions, repairs

  4. KRS 65.944Leases • > $100,000 must be approved by Commissioner • All technology leases must be approved by KDE

  5. KRS 156.265SCSDA • State Committee for School District Audits • Requires an annual audit • Approves all audit contracts

  6. KRS 156.480Pecuniary Interest • $25 per year • Employee with decision-making authority over the financial position of the school district • Goods, services, property, merchandise

  7. KRS 157.320(12), KRS 157.350(3)Salary Schedule • Approved single salary schedule for teachers • 185-day basis • Elementary and secondary are the same

  8. KRS 157.420(3)Sick Leave • May create an escrow account for sick leave provided per KRS 161.155 • Limited to 50% of the max liability for the current year • Based on staffing at Sept 15 • Interest is included in the total • Can’t be used for any other purpose • Record in Restricted Fund Balance - Sick Leave

  9. KRS 157.615, KRS 157.620SFCC Participation Requirements • Eligibility requirements • Odd-numbered years: restrict all available local revenue for school construction • Escrow entries • Current and prior offers • Interest earned becomes part of the restricted funds

  10. KRS 157.632Bonded Indebtedness • Determine beginning balance, receipts, disbursements, and ending balance of each issue • Compliance with pay schedules

  11. KRS 160.105, 702 KAR 3:030 Property Insurance • Property insurance required • KDE website shows replacement cost values • Insurance Guide on KDE website

  12. KRS 160.280 Board Member Per Diem, Expenses • No salary • Per diem of $75 plus actual travel expenses • Max of $3000 per member per year • Eligible to participate in group medical or dental • Full cost paid by the board member

  13. KRS 160.470Tentative Budget, Contingency • Tentative budget must be adopted by May 30 • Must contain 2% reserve for contingencies

  14. KRS 160.550Expenditure in Excess of Revenue • No superintendent or board member may knowingly recommend or vote for an expenditure in excess of revenue in any year • Budget approved by KDE • Exception: emergency declared by KDE

  15. KRS 160.580Gift, Grant, or Devise • All gifts, grants, and devises must be maintained at the district level • Exception: board policy allowing donations to be recorded at the school level

  16. KRS 161.220 - .990KTRS • Kentucky Teachers’ Retirement System • Employees in positions requiring certification or four-year degree must participate • Part-time or substitute teaching may require participation • Other employees are in the County Employees Retirement System (CERS) • Contribution rates

  17. HB265 – 2012 Regular SessionCapital Funds Request • Permits use of restricted capital funds for other purposes • Approval by KDE • Must be approved by June 30

  18. 702 KAR 3:130Internal Accounting • Redbook incorporated by reference • New version effective July 1, 2013

  19. YOUR QUESTIONS

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