Kentucky SB 133: AN ACT relating to juries. Amend KRS 29A.040 to add holders of adult personal identification cards issued within a county to the master list of potential jurors for that county.

Bill Text

CHAPTER 199
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1
CHAPTER 199
( SB 133 )
AN ACT relating to the fiscal reporting of local entities.
Be it enacted by the General Assembly of the Commonwealth of Kentucky:
Section 1. KRS 65A.030 is amended to read as follows:
(1) For fiscal periods beginning on or after July 1, 2014, requirements relating to audits and financial statements
of special purpose governmental entities are as follows:
(a) Every special purpose governmental entity with the higher of annual receipts from all sources or annual
expenditures of less than five hundred thousand dollars ($500,000)[one hundred thousand dollars
($100,000)] shall:
1. Annually prepare a financial statement; and
2. Once every four (4) years, contract for the application of an attestation engagement as
determined by the DLG, as provided in subsection (2) of this section;
(b) Every special purpose governmental entity with the higher of annual receipts from all sources or annual
expenditures equal to or greater than five hundred thousand dollars ($500,000)[one hundred thousand
dollars ($100,000)] but less than one million dollars ($1,000,000)[five hundred thousand dollars
($500,000)] shall:
1. Annually prepare a financial statement; and
2. Once every four (4) years, contract for the provision of an independent audit as provided in
subsection (2) of this section; and
(c) 1. Every special purpose governmental entity with the higher of annual receipts from all sources or
annual expenditures equal to or greater than one million dollars ($1,000,000)[five hundred
thousand dollars ($500,000)] shall, unless qualified for the reporting schedule under
subparagraph 2. of this paragraph:
a.[1.] Annually prepare a financial statement; and
b.[2.] Be audited annually as provided in subsection (2) of this section.
2. a. If a special purpose government entity reporting under this paragraph conducts two (2)
consecutive audits that include no opinions other than unqualified opinions, the special
purpose governmental entity may choose to comply with the fiscal reporting schedule in
paragraph (b) of this subsection. If the special purpose governmental entity
subsequently conducts an audit and receives an opinion other than an unqualified
opinion from the audit preparer, the special purpose governmental entity shall comply
with the provisions of subparagraph 1.a. and b. of this paragraph until the special
purpose governmental entity again conducts two (2) consecutive audits with no opinions
other than unqualified opinions.
b. A special purpose governmental entity subject to this paragraph shall inform the DLG if
it has chosen to comply with the fiscal reporting schedule as set out in paragraph (b) of
this subsection. The department shall note on the department's website, and in any
reports required under this chapter, the special purpose governmental entities subject to
this paragraph and operating under the fiscal reporting schedule as set out in
paragraph (b) of this subsection.
(2) (a) To provide for the performance of an audit or attestation engagement as provided in subsection (1)(a) to
(c) of this section, the governing body of a special purpose governmental entity shall employ an
independent certified public accountant or contract with the Auditor of Public Accounts to conduct the
audit or attestation engagement unless the provisions of subsection (3) of this section apply.
(b) The audit or attestation engagement shall be completed no later than twelve (12) months following the
close of the fiscal year subject to the audit or the attestation engagement.

ACTS OF THE GENERAL ASSEMBLY 2
(c) 1. The special purpose governmental entity shall submit for publication on the registry the audit or
attestation engagement, in the form and format required by the DLG.
2. A federally regulated municipal utility may comply with the requirements of this section for the
public power component of its operations by submitting an audit that conforms to the
requirements imposed by the federal agency with which it maintains a wholesale power contract.
3. A public utility established pursuant to KRS 96.740 that is not a federally regulated municipal
utility may comply with the requirements of this section for the public power component of its
operations by submitting a copy of its annual audit performed under KRS 96.840.
(d) 1. The audit or attestation engagement shall conform to:
a. Generally accepted governmental auditing or attestation standards, which means those
standards for audits or attestations of governmental organizations, programs, activities,
and functions issued by the Comptroller General of the United States;
b. Generally accepted auditing or attestation standards, which means those standards for all
audits or attestations promulgated by the American Institute of Certified Public
Accountants; and
c. Additional procedures and reporting requirements as may be required by the Auditor of
Public Accounts.
2. Rather than meeting the standards establis