EDUCATION AND WORKFORCE DEVELOPMENT CABINET
Kentucky Board of Education
Department of Education
(As Amended at ARRS, April 9, 2013)
RELATES TO: KRS Chapter 45A, 61.410, 66.480, 156.029, 156.076, 156.160, 156.200, 158.290, Chapter 160, 161.540, 161.560, 342.640, 424.260
STATUTORY AUTHORITY: KRS 156.070, 156.160
NECESSITY, FUNCTION, AND CONFORMITY: KRS 156.070(1) gives the Kentucky Board of Education the management and control of the common schools. KRS 156.200 requires the Kentucky Board of Education to regulate accounting procedures and reports of local school districts. This administrative regulation establishes uniform procedures for the accounting of school activity funds.
1. Definition. "Activity funds" means [
all school funds including funds derived from fundraising activities sponsored
under the auspices of the school[ ;] and does [ (2) Does]
not mean funds raised or received by organizations which do not come under the
direct supervision of school authorities.
2. District Responsibilities. (1) A district board
of education shall have [
Have] the responsibility for administration and control of all activity
funds [ ;] and comply [ (2) Comply] with "Accounting
Procedures for Kentucky School Activity Funds", which is also
known as the "Redbook".
(2)(a) The August 2007 edition of te Redbook shall be used until June 30, 2013.
(b) The March 2013 edition of the Redbook shall be used beginning July 1, 2013..
3. Audits. (1) Activity fund[
accounts shall be audited annually by a certified public accountant,
and a report shall be made to the district board of education.
(2) Audit reports shall be reviewed and accepted by the local board of education, and appropriate action taken.
Recommendations and exceptions listed in the audit shall be reviewed by staff
of the Department of Education[
, and a report shall be made to the local
board of education] [ district Board of Education].
A copy of the school audit report shall be on file in both the office of the
principal and the office of the superintendent of the local school district.
where] It shall be open for public inspection in
4. Incorporation by Reference. (1) "Accounting Procedures for Kentucky
School Activity Funds", March[
February] 2013[ November
2012] [ August 2007], is incorporated by reference.
document] may be inspected, copied, or obtained,
subject to applicable copyright law, at the Department of Education, Division
[ Office] of District Support [ Services], 15th Floor, Capital
Plaza Tower, 500 Mero Street, Frankfort, Kentucky, Monday through Friday, 8
a.m. to 4:30 p.m.
This is to certify that the chief state school officer has reviewed and recommended this administrative regulation prior to its adoption by the Kentucky Board of Education, as required by KRS 156.070(4).
TERRY HOLLIDAY, Ph.D. Commissioner of Education
DAVID KAREM, Chairperson
APPROVED BY AGENCY: February 14, 2013
FILED WITH LRC: February 14, 2013 at 3 p.m.
CONTACT PERSON: Kevin C. Brown, General Counsel, Kentucky Department of Education, First Floor, Capital Plaza Tower, 500 Mero Street, Frankfort, Kentucky 40601, phone (502) 564-4474, fax (502) 564-9321.