KY HB457

Public postsecondary institutions must submit annual operating budgets to the Council on Postsecondary Education by August 1 of each fiscal year

Quarterly budget-to-actual reports are required within 30 days following the end of each fiscal quarter, in a format approved by the council

The council may request additional financial information from institutions, including detailed transaction data, bank statements, investment reports, and payroll/staffing information

The council president must consult with institutional boards of regents and trustees during presidential selection and evaluation processes to ensure progress toward statewide postsecondary education goals

Existing annual attestation requirements for institutional financial standing and audits are reorganized but remain substantively unchanged