(1) The fees collected by the Kentucky Office of Bar Admissions shall be made payable to the Kentucky State Treasurer and be deposited in a restricted fund account held by the Administrative Office of the Courts to provide for the ordinary and necessary expenses of the administration of the bar examination and the operation of both the Board of Bar Examiners and the Character and Fitness Committee.

(2) An annual budget including all income and expenditures shall be prepared by the Board and the Committee in consultation with the Budget Director for the Judicial Branch and submitted to the Supreme Court not less than one month prior to the commencement of the next fiscal year. The budget shall distinctly set forth expected revenues according to source, together with carryover funds from the previous year, and shall list budgeted amounts for each category of expenditure in sufficient detail to clearly identify the nature of the respective expenditures.

(3) Upon approval by the Court, the budget shall govern the fiscal operation of the Board and the Committee. Expenditures may exceed the authorized budget by not more than ten percent subject to availability of funds. Expenditures exceeding the authorized budget by more than ten percent may be made only upon approval of the Court.

(4) At least once each quarter a financial report shall be prepared and transmitted to the Board, the Committee, and the Court.

(5) The restricted fund account held by the Administrative Office of the Courts to provide for the expenses of the administration of the bar examination and the operation of the Board and the Committee shall be included in the annual financial statements for the Judicial Branch of the Commonwealth of Kentucky, prepared by the Administrative Office of the Courts and subject to annual external audit pursuant to the Rules of Administrative Procedure Part XIX.

(6) The Board and the Committee may employ such personnel as the Court authorizes. Their compensation shall be fixed by the Board and the Committee subject to approval by the Court. The compensation of members of the Board and Committee shall be fixed by the Court.

(7) Printing and purchasing shall be regulated by procedures established through the Administrative Office of the Courts except that the duplicating of bar examinations shall be accomplished in such manner as the Board designates in order to preserve the security thereof.