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council to be relevant to the financial oversight; and
- Timely consult with the council on all major financial matters during the state of financial exigency declared in subsection (2) of this section.
- (c)The financial oversight granted to the council under this subsection shall continue for the entire duration of the financial exigency declared in subsection (2) of this section.
- Notwithstanding KRS 164A.560, beginning no later than July 1, 2027, all financial transactions of Kentucky State University shall be reported and reconciled no less than monthly in the Enhanced Management Administrative Reporting System (EMARS).
- Kentucky State University shall not incur a budget deficit for the remaining duration of the financial exigency declared in subsection (2) of this section.
- Any organization registered with the Kentucky Secretary of State or any member or officer of any such organization having entered into a public-private lease agreement with Kentucky State University shall not be eligible to transact any business or enter into any contract with Kentucky State University or any other agency or instrumentality of the Commonwealth or subdivision thereof after the effective date of this Act. Any such contract purported to be executed or renewed with any such organization or individual after the effective date of this Act shall be null and void.
- →SECTION 2. A NEW SECTION OF KRS CHAPTER 164 IS CREATED TO READ AS FOLLOWS:
- The Kentucky State University board of regents, in consultation with the Council on Postsecondary Education, shall conduct a thorough review of all academic programs for long-term viability, financial stability, alignment with the university's mission as a polytechnic institution, the requirements of subsection