Printed from:

Welcome to Columbia Magazine  

State Treasurer announces bill to return money to General Fund

Treasurer Allison Ball announces bill to return 100% of General Fund Budget Appropriations
Click on headline for complete story

By Lorran Ferguson, Communications Director, Deputy General Counsel
Kentucky State Treasurer Allison Ball

FRANKFORT, KY. (Thu 11 Jan 2018) - Treasurer Allison Ball announced in an interview that she has a set of priority bills that would return 100% of her remaining general fund and road fund appropriations back to the legislature, creating the ability to permanently operate the Treasury without the need for taxpayer funded appropriations annually. Current year general fund and road fund appropriations total over $2.5 million.

"For the past year, my staff and I have strategized for ways to help the pension and funding crisis in the Commonwealth of Kentucky," Treasurer Ball said. "After much research and due diligence, I developed a plan to fund the Treasury entirely with restricted funds from unclaimed property, returning 100% of remaining taxpayer appropriations back to the General Assembly."

Fifty percent of Treasury operations are currently funded through restricted funds. This change in the structure would enable Treasurer Ball to return all remaining general fund and road fund appropriations for the fiscal year, as well as enable the Treasury to operate without general fund or road fund appropriations in the future.

"Every elected official has a responsibility to be creative in solving Kentucky's financial crisis," Treasurer Ball said. "These bills would return to the General Assembly more money to help make better decisions. As Treasurer, I understand that every dollar counts. I am willing to do my part."

The companion bills, SB 76 and HB 88, are sponsored in the Senate by Wil Schroder, a Republican who represents Bracken, Campbell, and Pendleton Counties, and in the House of Representatives by Ken Fleming, a Republican from Louisville.

"I think this is a great step in the right direction to fix our looming financial crisis," Sen. Schroder said. "As a member of the Senate A&R committee, I know how important this upcoming budget is. I am proud to be the lead sponsor in the Senate on this issue."

"I believe this is the kind of creativity the people of Kentucky elected us to use when solving tough challenges," Rep. Fleming said. "As soon as Treasurer Ball mentioned this to me, I knew it was an idea I wanted to both support and sponsor."

This bill would not change how unclaimed property is currently delivered to Kentuckians. Treasurer Ball stated that the funding structure will be carefully set up according to parameters developed over the last year to ensure all claimants will be paid for their claims.

"We have returned over $50 million in unclaimed property over the last two years--the largest amount in any two-year period of Treasury history," Treasurer Ball said. "Returning record amounts of unclaimed property continues to be a top priority. This legislation will free up general fund and road fund dollars in a difficult budget year. Money that was previously appropriated to the State Treasury can now be put towards pension liabilities and road improvements in the Commonwealth."

This story was posted on 2018-01-11 14:30:43
Printable: this page is now automatically formatted for printing.
Have comments or corrections for this story? Use our contact form and let us know.

Treasurer Allison Ball with bill sponsors

2018-01-11 - Frankfort, KY - Photo by Lorran Ferguson.
Treasurer Allison Ball with Rep. Ken Fleming and Sen Wil Schroder, who are sponsoring companion bills in the Kentucky House and Kentucky Senate to enable Treasurer Ball to return all remaining general fund and road fund appropriations for the fiscal year, as well as enable the Treasury to operate without general fund or road fund appropriations in the future. - Lorran Ferguson

Read More... | Comments? | Click here to share, print, or bookmark this photo.


Quick Links to Popular Features

Looking for a story or picture?
Try our Photo Archive or our Stories Archive for all the information that's appeared on


Contact us: Columbia Magazine and are published by Linda Waggener and Pen Waggener, PO Box 906, Columbia, KY 42728.
Phone: 270.403.0017

Please use our contact page, or send questions about technical issues with this site to All logos and trademarks used on this site are property of their respective owners. All comments remain the property and responsibility of their posters, all articles and photos remain the property of their creators, and all the rest is copyright 1995-Present by Columbia Magazine. Privacy policy: use of this site requires no sharing of information. Voluntarily shared information may be published and made available to the public on this site and/or stored electronically. Anonymous submissions will be subject to additional verification. Cookies are not required to use our site. However, if you have cookies enabled in your web browser, some of our advertisers may use cookies for interest-based advertising across multiple domains. For more information about third-party advertising, visit the NAI web privacy site.