KRS tit. XII, ch. 147B — FINANCIAL POLICY | Kentucky Revised Statutes (through the 2026 Regular Session) — Kentucky

KRS 147B.100 Governor's Financial Policy Council -- Purpose -- Members -- Meetings -- Reimbursement

147B.100. Governor's Financial Policy Council -- Purpose -- Members -- Meetings -- Reimbursement (1) There is recognized as established the Governor's Financial Policy Council. The purpose of the council shall be to advise the Governor on economic and financial matters relating to revenue, budgetary, and financial management policies. (2) The council shall consist of the secretary of Finance and Administration Cabinet, the state budget director, and four (4) at-large members, appointed by the Governor, who shall be persons that are knowledgeable by reason of their experience and academic training, in the fields of business, financial management or public policy. The Governor shall designate one (1) of the four (4) at-large members to serve as chairman of the council. (3) The terms of the at-large members shall coincide with the elected term of the Governor who appointed them. Vacancies in the at-large membership of the council shall be filled by appointment by the Governor for the unexpired portion of the vacated member's term. (4) The council shall meet at least annually and shall hold other meetings deemed necessary by a majority of the membership or when requested by the Governor. (5) The members of the Governor's council shall serve without compensation for their services but shall be reimbursed, subject to the provisions of KRS 45.101 and state travel regulations, for all actual and necessary expenses incurred in the performance of their duties as members of the council. Effective: June 20, 2005 History: Amended 2005 Ky. Acts ch. 85, sec. 563, effective June 20, 2005. -- Created 1986 Ky. Acts ch. 370, sec. 1, effective July 15, 1986.

KRS 147B.110 Duties and functions

147B.110. Duties and functions The Governor's Financial Policy Council shall perform the following duties and functions: (1) Review the state revenue forecast and official revenue estimates; (2) Review long-term expenditure patterns; (3) Review federal economic, taxation, and budget policies and report to the Governor regarding the impact of such policies on the state economy and upon the state's finances; (4) Review state infrastructure and capital investment needs and advise the Governor regarding needed changes and revisions; (5) Review and make recommendations regarding economic issues as are deemed appropriate; and (6) Provide other financial analyses as requested by the Governor or the Governor's Office for Policy and Management. Effective: July 15, 1986 History: Created 1986 Ky. Acts ch. 370, sec. 2, effective July 15, 1986.