General Government
Regional Development Agency Assistance Fund
| Actual FY 2024 | Actual FY 2025 | Revised FY 2026 | Recommended FY 2027 | Recommended FY 2028 |
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| SOURCE OF FUNDS | | | | | |
|---|
| Restricted Funds | | | | | |
|---|
| Balance Forward | 1 | 1 | | | |
|---|
| Current Receipts | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
|---|
| Total Restricted Funds | 6,000,001 | 6,000,001 | 6,000,000 | 6,000,000 | 6,000,000 |
|---|
| TOTAL SOURCE OF FUNDS | 6,000,001 | 6,000,001 | 6,000,000 | 6,000,000 | 6,000,000 |
|---|
| EXPENDITURES BY CLASS | | | | | |
|---|
| Personnel Costs | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
|---|
| TOTAL EXPENDITURES | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
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| EXPENDITURES BY FUND SOURCE | | | | | |
|---|
| Restricted Funds | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
|---|
| TOTAL EXPENDITURES | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
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| EXPENDITURES BY UNIT | | | | | |
|---|
| Regional Development Agency Assistance Fund | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
|---|
| TOTAL EXPENDITURES | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
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The Regional Development Agency Assistance Fund receives $6 million each year from the Tennessee Valley Authority in-lieu-of payment and is administered by the Department for Local Government for the purpose of providing funding to agencies that are designated to receive funding in a given fiscal year by the fiscal court of each fund-eligible county through the Regional Development Agency Assistance Fund (RDAAF). The funds are distributed to Industrial Development Authorities (IDAs) established under KRS 154.50-301 to 154.50-346. The funds are used for: economic development and job creation activities; acquiring federal, state, or private matching funds to the extent possible; and debt service for approved projects; that the agency is empowered to undertake in that county. Grants obtained under this program shall not be used for salaries, consulting fees, or operational expenses.
Applications for grants from funds provided for in KRS 96.895 shall be made by the legislative bodies of one or more counties entitled to receive money from the RDAAF; include any recipient agency as a co-applicant on the application; and include a concurrence letter from each legislative body entitled to receive the money.