As part of the responsibilities granted to the Council related to Kentucky State Universities (KSU) in HB 250 (2022), Section 1.(1)(c) of states the following:
The Council on Postsecondary Education shall approve any Kentucky State University expenditure greater than $5,000, and the university shall provide a monthly report of university finances to the council in the format requested by the council. The council shall provide a monthly update on the financial status of the university to the Governor and the Legislative Research Commission. The financial oversight granted to the council under this paragraph shall continue until the council reports to the Governor and the Legislative Research Commission that the university's finances are stable;
KSU shall submit request for any expenditure of funds over $5000 to Council staff at a designated email account for review and approval. Each request shall include the following information and shall be signed by both the Chief Financial Officer and President of the institution.
All contracts and personnel actions must be approved by the KSU Board of Regents or designated Committee before resulting expenditures will be approved. Contracts and personnel obligations occurring before the effective date of HB 250, April 8, 2022, will be considered approved by the KSU Board of Regents.
CPE staff may will contact KSU with any questions or clarifications regarding the request. Requests may be revised or withdrawn at any time.
If the request is denied, CPE staff will outline the deficiencies in the request and KSU may resubmit upon correction.
If the request is approved, CPE staff will notify the KSU CFO and provide authorization for the expenditure in KSU's accounting system.
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