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 3:135 Bid 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 65.944 Leases > $100,000 must be approved by Commissioner All technology leases must be approved by KDE

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

6. KRS 156.480 Pecuniary 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 157.620 SFCC 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 157.632 Bonded 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 160.470 Tentative Budget, Contingency Tentative budget must be adopted by May 30 Must contain 2% reserve for contingencies

14. KRS 160.550 Expenditure 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 160.580 Gift, 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 -.990 KTRS 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 Session Capital Funds Request Permits use of restricted capital funds for other purposes Approval by KDE Must be approved by June 30

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

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