One of the important duties that an Administrator performs is that of managing and reporting library revenues and expenditures. Financial reports provide a transparent review and are not only good business practice, but many reports are required by Kentucky statute.
These and other required filings may be found on the
SPGE Calendar - July Fiscal Year available on the Department for Local Government (DLG) website. Filings can be submitted on the DLG portal.
KRS 65A.020 through
65A.110, all special purpose governmental entities (SPGEs) defined by
KRS 65A.010 are required to:
- SPGEs which are also taxing districts must complete a Uniform Financial Information Report (UFIR) [form F-65 (KY-5)] pursuant to
KRS 65.905 and submit to the DLG by
- Provide, depending on the library's annual revenues and expenditures, an annual audit or attestation engagement prepared by a CPA or APA within the 12 months of the close of the fiscal year, or
June 30 of the next calendar year, and submit it to the DLG within 15 days of receipt.
a. Libraries that receive or expend
less than $100,000 in a fiscal year must provide an attestation engagement every 4 years.
b. Libraries that receive or expend
$100,000-$499,999 in a fiscal year must provide an audit every 4 years.
c. Libraries that receive or expend
$500,000 or more in a fiscal year are required to submit an audit every year.
- Post budget amendments [SPGE 101 - Column 2] for the current fiscal year. Amendments may be posted throughout the year, with final amendments posted no later than
- Budget all funds and approve an annual budget by
- Annually complete the DLG Registration and Board Reporting Form [SPGE 100] by
July 15. Libraries should update the form throughout the fiscal year as needed.
- Make a payment of an annual registration fee to the DLG after completion of registration form by July 15.
- Submit budget figures [SPGE 101 - Column 1] to the DLG by
- Provide an annual financial statement prepared by the library or a CPA and publish the location where the adopted budget, financial statements, and most recent audit or attestation engagement may be examined by the public by
September 1, in compliance with
KRS Ch. 424.
- Submit the Year End Actuals [SPGE 101 Column 3] to the DLG by
September 1 each year.