Title 740 | Chapter 001 | Regulation 010
740 KAR 1:010.Acquisition and disbursement of funds, accounting system and reports.
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: (9 Ky.R. 522; eff. 11-3-82; Am. 18 Ky.R. 2380; eff. 3-4-92; Crt eff. 2-5-2020.)
740 KAR 1:010.Acquisition and disbursement of funds, accounting system and reports.
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: (9 Ky.R. 522; eff. 11-3-82; Am. 18 Ky.R. 2380; eff. 3-4-92; Crt eff. 2-5-2020.)