Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Kbud Approval topic
No spam. Unsubscribe anytime.
KPPA ad hoc budget committee forwards $50 million biennium KBUD to full board
Summary
The Kentucky Public Pensions Authority ad hoc budget committee voted Sept. 22 to approve the FY 2026–28 KBUD submission, built around a $50,000,000 baseline per year from the state budget office, and will forward the package to the full KPPA board. Trustees discussed, but did not finalize, an additional budget request to cover internal staff costs during an IT modernization.
The Kentucky Public Pensions Authority ad hoc budget committee voted Sept. 22, 2025, to approve the FY 2026–28 biennium KBUD submission and forward it to the full KPPA board for final action.
Mike Lamb, who led the budget presentation, said the state budget office’s baseline for fiscal years 2027 and 2028 is $50,000,000 per year. "It was $50,000,000," Lamb stated, and he described offsets such as anticipated retirement-rate savings that, in his internal calculations, reduced projected personnel-related costs.
The memo Lamb proposed for the KPPA board will include the KBUD submission figure and the capital planning request; the committee agreed staff should present the updated slides and a written ABR (additional budget request) breakdown to the full board. A trustee moved to approve the biennium submission "as presented and to forward it to the full KPPA board"; the motion was seconded and the committee recorded an affirmative vote and passed the motion.
Why it matters: the KBUD defines KPPA’s spending ceiling for the next biennium and frames how the authority plans and prioritizes capital and staffing expenditures. Committee discussion focused on which costs should be included in the KBUD and whether to request ABR authority for potential internal personnel costs linked to an IT modernization effort.
Committee members said they want clear supporting detail before routinely seeking ABRs mid-biennium. Mike Lamb told trustees there is a process to request additional funding mid-biennium through the state budget office but emphasized it involves justification and review. The committee agreed to forward the package and to return to administrative budget topics after the full KPPA meeting.
Next steps: staff will update the presentation and the written memo to reflect the committee’s guidance, include ABR options and the capital-plan breakout, and present that material to the full KPPA board for final consideration.
