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6,137 statutes · page 22 of 307
United States — Utah legislation
20 statutes shown from 6,137 source-backed records
This section defines several terms used in the chapter, including enterprise fund, fund, general fund, interfund loan, town general fund, and utility.
The state auditor may withhold state money from a town that does not file an adopted budget or meet annual financial reporting and independent auditing requirements, but not if the town substantially complies.
All towns must use a fiscal year that starts on July 1 and ends on June 30 of the following year.
Towns must record revenues and expenditures using accounting principles prescribed by the state auditor.
The mayor must prepare a budget for each budget year for the listed town funds.
The mayor must prepare a tentative budget, make it available for public inspection, and submit it to the town council by the first regularly scheduled town council meeting in May; the town council must review and tentatively adopt it before the public hearing, and may amend it.
A town may transfer enterprise fund money to another fund only if it follows the section’s notice and hearing requirements.
Before adopting a final budget or budget amendment, the town council must hold a public hearing and give notice of the hearing; after the hearing, it may adjust expenditures and revenues.
Adoption of budgets -- Filing. Before June 30 of each year, or September 1 in the case of a property tax rate increase under Sections 59-2-919 through 59-2-923 , the council shall by resolution or ordinance adopt a budget for the ensuing
A budget takes effect for the budget year when finally adopted, but it can be amended later.
The council must use the budgeted estimated property tax revenue as the basis for setting the property tax levy for the corresponding tax year, subject to legal limits.
A town council must set the town’s real and personal property tax levy by ordinance or resolution by the stated deadline, and the town clerk must certify it to the county auditor by June 22.
Property taxes levied for specified services -- Special revenue fund -- Limitations on expenditures. A town may account separately for the revenues derived from a property tax, that is lawfully levied for a specific purpose, in accordance
A town may levy property taxes for specified purposes, including water, wastewater, hospitals, and recreational facilities, subject to stated caps and conditions.
A town may keep retained earnings or fund balances in any fund, but its general fund balance may not exceed 100% of current general-fund revenue.
The council may not appropriate more in a fund’s final budget than the fund’s estimated expendable revenue for the budget year.
Town officers may not spend or obligate money beyond total appropriations for a department, and claims cannot be paid by check or warrant until processed under the chapter.
The council may move or reduce unencumbered or unexpended appropriation balances within the same fund, but it may not cut certain required appropriations below the minimums required.
The council may increase the budget total of one or more funds by following Section 10-5-108 procedures. Enterprise funds may be increased without a public hearing.
A town council may amend the budget and authorize emergency spending that is reasonably necessary when it determines an emergency exists and the emergency requires spending above the town general fund budget.
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