1. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
January 11, 2019
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2. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
KRS Administration of county uniform budget system
KRS "County," "fiscal court," and "county judge/executive" defined to apply to charter county governments.
KRS Expenditures in excess of budget fund void and illegal.
KRS Monthly statement of county treasurer -- Quarterly statement of county judge/executive.
KRS Investment of public funds -- Limitations -- Written investment policy -- Duties of state local debt officer -- Investment pool.
A county treasurer must keep records and make reports as set out in the Kentucky Revised Statutes:
January 11, 2019
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3. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Cash Receipts Journal and Cash Receipts Ledger
Check Distribution Ledger
Appropriation Ledger
General Ledger
Investment Journal
Subsidiary Ledgers and Journals (when applicable)
The county treasurer must keep the following records as required by the Uniform System of Accounts for Kentucky:
January 11, 2019
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4. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
The county treasurer must account for each of the following individually:
# 7
General fund
Road & Bridge fund
Jail fund
LGEA fund (where applicable)
A special account for each grant (not necessarily a separate fund)
An ambulance service fund
E911 fund (when applicable)
A separate non-interest bearing checking account for federal grants.
January 11, 2019
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5. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Prepare financial reports for the fiscal court
each month pursuant to KRS :
# 8a
The county treasurer shall balance his books on the first day of each month, so as to show the correct amount on hand belonging to each fund on the day the balance is made, and shall within ten (10) days file with the county judge/executive and members of the fiscal court a monthly statement containing a list of warrants paid by him during the month, showing all cash receipts and the cash balance at the beginning and at the end of the month, and certifying that each warrant or contract is within the budget appropriation.
January 11, 2019
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6. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Prepare financial reports for the jailer
each month pursuant to KRS :
# 8b
The county treasurer shall keep books of accounts of all receipts and disbursements from the jail budget and make such reports as are required by the state local finance officer.
The county treasurer, in cooperation with the jailer, shall monthly report to the fiscal court on:
All purchases from the jail account for the preceding month for final fiscal court approval; and
The current condition of the jail account, including all jail revenues received, expenditures for the month, expenditures for the year-to-date and unexpended balances by line item.
January 11, 2019
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7. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Prepare a quarterly financial statement for the State Local Finance Officer with the ability for it to be uploaded electronically pursuant to KRS :
# 9
The county judge/executive shall, within fifteen (15) days after the end of each quarter of each fiscal year, prepare a statement showing for the current fiscal year to date actual receipts from each county revenue source, the totals of all encumbrances and expenditures charged against each budget fund, the unencumbered balance of the fund, and any transfers made to or from the fund. The county judge/executive shall post the statement in a conspicuous place in the courthouse near the front door for at least ten (10) consecutive days, and transmit a copy to the fiscal court and to the state-local finance officer. The statement shall be read at the next meeting of the fiscal court.
January 11, 2019
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8. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Prepare an annual settlement for the
fiscal court within 30 days of the close of
the fiscal year pursuant to KRS (5):
# 10
The county treasurer shall, when required by the fiscal court, settle his accounts as county treasurer, and within thirty (30) days after the close of each fiscal year, he shall, unless his immediate predecessor has done so, make a full and complete settlement for the preceding fiscal year with the fiscal court or with a person or persons whom the fiscal court, by order of record, appoints to make settlement with him. In case of a vacancy, the county judge/executive shall call a special meeting which shall proceed in the manner it deems proper to settle the accounts of the county treasurer.
January 11, 2019
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9. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Prepare an annual financial statement,
pursuant to KRS :
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(1) Excepting officers of a city of the first class or a consolidated local government, a county containing such a city or consolidated local government, (full text available online), shall at the expiration of each fiscal year prepare an itemized, sworn statement of the funds collected, received, held, or disbursed by him during the fiscal year just closed, unless he has complied with KRS Pursuant to subsections (2) and (3) of KRS 91A.040, each city of the sixth class shall prepare an itemized, sworn statement of the funds collected, received, held, or disbursed by the city which complies with the provisions of this section.
January 11, 2019
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10. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
KRS
Optional monthly or quarterly statements:
# 11b
Any officer who is subject to the provisions of KRS may elect to prepare and publish monthly or quarterly statements, in lieu of the annual statements required by KRS All of the provisions of KRS shall be applicable to such a monthly or quarterly statement except that (1) the statement shall cover only the preceding month or quarter, as the case may be, and (2) the publication shall be made within thirty (30) days after the end of the month or quarter, as the case may be. Any officer who has elected to proceed under this section shall not be exempted from the requirements of KRS for any fiscal year unless he has caused to be prepared and published, in accordance with this section, a proper statement for each month or quarter of the fiscal year.
January 11, 2019
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11. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
A county treasurer should only Counter-sign checks if the following conditions exist:
Claim reviewed by the fiscal court.
Sufficient fund balance and adequate cash in the bank to cover the check.
Adequate free balance in a properly budgeted appropriations account to cover the check.
January 11, 2019
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12. Kentucky County Treasurer’s Fundamentals Course
Duties of a County Treasurer
Important item to take note of:
The county treasurer is the sole officer bonded to receive and disburse county funds and could be liable on the county treasurer’s bond if correct records are not maintained and the proper procedures are not followed as required by law.
January 11, 2019
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13. Kentucky County Treasurer’s
Fundamentals Course
Duties of a County Treasurer
Important item to take note of:
The county treasurer is not authorized to designate anyone to sign checks on the county treasurer’s behalf.
January 11, 2019
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14. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Debit card
Do’s
Any card which allows immediate electronic payment of expenses or access to funds and online payments directly from a bank account, are prohibited.
This prohibition does includes all county financial transactions by the County Judge Executive (of their designee), the Treasurer, Fiscal Court members, or any county employee.
This prohibition does cover fees offices in counties of 70,000 population or higher.
January 11, 2019
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15. Kentucky County Treasurer’s Duties of a County Treasurer
Fundamentals Course
Duties of a County Treasurer
Debit card
Don’ts
Any card which allows immediate electronic payment of expenses or access to funds and online payments directly from a bank account, are prohibited.
This restriction does not include payments on wages (direct deposit) to employees OR standing orders for payment of routine expenses such as utilities. X
This restriction does not apply to Sheriff and County Clerk offices in counties with populations under 70, 000 residents. (However, these financial practices are strongly discouraged as they allow for weak control over disbursements.) X
January 11, 2019
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16. This is to certify that, on this day, FIRST LAST
Friday, January 11, 2019
FIRST LAST
Has successfully completed the
Kentucky County Treasurer’s Fundamentals Course
Duties of a County Treasurer
Tammy Robertson
K.A.C.T.F.O. President