Public Protection Financial Institutions
Actual FY 2024Actual FY 2025Revised FY 2026Recommended FY 2027Recommended FY 2028
SOURCE OF FUNDS
Restricted Funds
Balance Forward12,053,45414,991,95818,941,70020,536,40013,413,600
Current Receipts21,036,79322,802,37623,020,00023,022,00023,022,000
Non-Revenue Receipts(2,400,000)(2,750,000)(2,750,000)(11,750,000)(11,750,000)
Total Restricted Funds30,690,24635,044,33539,211,70031,808,40024,685,600
TOTAL SOURCE OF FUNDS30,690,24635,044,33539,211,70031,808,40024,685,600
EXPENDITURES BY CLASS
Personnel Costs14,118,51114,544,42517,203,60016,765,50017,114,800
Operating Expenses1,577,7231,556,4831,467,2001,624,8001,624,800
Grants Loans Benefits2,0531,7244,5004,5004,500
TOTAL EXPENDITURES15,698,28816,102,63118,675,30018,394,80018,744,100
EXPENDITURES BY FUND SOURCE
Restricted Funds15,698,28816,102,63118,675,30018,394,80018,744,100
TOTAL EXPENDITURES15,698,28816,102,63118,675,30018,394,80018,744,100
EXPENDITURES BY UNIT
Administrative Services1,733,2461,142,4491,663,1001,644,6001,670,500
Securities3,043,2792,994,4063,555,3003,500,0003,569,900
Depository Institutions6,816,7867,070,1308,072,5007,954,9008,102,900
Non-Depository Institutions4,104,9784,895,6475,384,4005,295,3005,400,800
TOTAL EXPENDITURES15,698,28816,102,63118,675,30018,394,80018,744,100
The Department of Financial Institutions, pursuant to KRS Chapters 286 and 292, licenses and regulates banks, bank holding companies, trust companies, credit unions, savings and loan associations, consumer loan companies, industrial loan companies, mortgage loan companies, mortgage loan brokers, check cashing licensees, sale of check licensees, securities issuers, broker-dealers, agents, and investment advisors. A Commissioner appointed by the Governor heads the Department.
The Commissioner's Office is responsible for the overall management of the agency. The Public Information Officer is part of the Commissioner's Office and is responsible for all communications with the media and handling the department's public relations efforts through coordination of educational seminars, brochures, and newsletters.
The Division of Securities carries out the registration of securities issuances in the state. The Division registers broker-dealers, their agents, investment advisers, and investment adviser representatives, and conducts on-site examinations of these regulated entities. The Division investigates allegations of securities fraud or other illegal conduct entities involved in the securities industry that is operating within Kentucky.
The Division of Depository Institutions licenses/charters, examines and regulates depository financial institutions within the Bank Branch and Credit Union Branch. The Bank Branch is responsible for the examination and supervision of commercial banks, bank holding companies, and independent trust companies. The Credit Union Branch is responsible for examination and supervision of all state chartered credit unions.
The Division of Non-Depository Institutions includes both the Compliance Branch and Consumer Protection Branch. The Compliance Branch is responsible for the examination and supervision of consumer loan companies, industrial loan companies, mortgage loan companies, mortgage loan brokers, check cashing licensees, and money transmitters. The Consumer Protection Branch is responsible for the investigation of complaints and provides outreach and education to protect consumers from financial frauds.