745 KAR 1:060. Delegation of financial management responsibility

Link to law: http://www.lrc.ky.gov/kar/745/001/060.htm
Published: 2015

      745 KAR 1:060.

Delegation of financial management responsibility.

 

      RELATES TO: KRS

164A.555-164A.605

      STATUTORY AUTHORITY:

KRS 164A.560

      NECESSITY, FUNCTION,

AND CONFORMITY: KRS 164A.560 permits the governing boards of public

institutions of higher education to elect to perform financial management

functions per KRS 164A.555 to 164A.630 by issuing administrative regulations to

do so. These administrative regulations implement the provision of KRS 164A.605

at Kentucky State University. The scheduled implementation date of this

administrative regulation is July 1, 1986.

 

      Section 1. The Board

of Regents of Kentucky State University authorizes the president, by formal,

written assignment, to delegate any portion of this authority to the Vice

President for Business Affairs, except as provided in Section 4 of this

administrative regulation.

 

      Section 2. Kentucky

State University officials to whom the president has delegated certain

financial management responsibilities pursuant to this administrative

regulation, are authorized to subdelegate those responsibilities or any portion

thereof to their deputies and subordinates to the extent authorized by the

president. All such subdelegations shall be made in writing and reported to the

president.

 

      Section 3. Any Kentucky

State University official with authority derived from a delegation or

subdelegation under this administrative regulation shall furnish a copy of his

delegation or subdelegation upon request of any vendor or member of the public.

All such delegations or subdelegations are terminated immediately upon

suspension of the individual's employment at the university.

 

      Section 4. No

official, including the president, is authorized by Kentucky State University

Board of Regents to acquire or dispose of an interest in real property, the

duration of which interest exceeds two (2) years time, without action of the

Board of Regents. (12 Ky.R. 1119; eff. 1-3-86.)
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