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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 10-5-113

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.

Source excerpt

budgetingcapital improvementscapital improvements fundcapital improvements reservefund balancemunicipal financepublic finance
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

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“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.”

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Subsection 10-5-113(2)

The town general fund balance may not exceed 100% of the town general fund’s total revenue for the current fiscal period.

Section 10-5-113(2)

Subsection 10-5-113(3)(a)

The town council may, in a budget year, move money from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements.

Section 10-5-113(3)(a)

Subsection 10-5-113(3)(b)

Reserves described in Subsection (3)(a) may accumulate year to year in a capital improvements fund until enough has built up for economical spending on the stated purposes.

Section 10-5-113(3)(b)

04

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In force source record

Source record from le.utah.gov · Legal dates not recorded

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Showing 8 of 8 provisions

Provision 8
§ 10-5-113Accumulation of retained earnings or fund balance -- Limit as to general fund -- Reserve for capital improvements.Provision

Source excerpt

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.

Accumulation of retained earnings or fund balance -- Limit as to general fund -- Reserve for capital improvements. A town may accumulate retained earnings or fund balances, as appropriate, in any fund. The accumulation of a fund balance in the town general fund may not exceed 100% of the total revenue of the town general fund for the current fiscal period. The town council may, in a budget year, appropriate from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements: for the purpose of financing future specified capital improvements; and in accordance with a formal long-range capital plan adopted by the governing body. The reserves described in Subsection (3)(a) may accumulate from year to year in a capital improvements fund until the accumulated total is sufficient to permit economical expenditure for the specified purposes.
Section 10-5-113Verify source
§ 10-5-113(1)Subsection 10-5-113(1)Provision

Source excerpt

A town may accumulate retained earnings or fund balances in any fund, as appropriate.

A town may accumulate retained earnings or fund balances, as appropriate, in any fund.
Section 10-5-113(1)Verify source
§ 10-5-113(2)Subsection 10-5-113(2)Provision

Source excerpt

The town general fund balance may not exceed 100% of the town general fund’s total revenue for the current fiscal period.

The accumulation of a fund balance in the town general fund may not exceed 100% of the total revenue of the town general fund for the current fiscal period.
Section 10-5-113(2)Verify source
§ 10-5-113(3)Subsection 10-5-113(3)Provision

Source excerpt

The town council may, in a budget year, move money from estimated revenue or excess fund balance in the town general fund into a reserve for capital improvements, if it is for future specified capital improvements and follows a formal long-range capital plan adopted by the governing body.

The town council may, in a budget year, appropriate from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements: for the purpose of financing future specified capital improvements; and in accordance with a formal long-range capital plan adopted by the governing body. The reserves described in Subsection (3)(a) may accumulate from year to year in a capital improvements fund until the accumulated total is sufficient to permit economical expenditure for the specified purposes.
Section 10-5-113(3)Verify source
§ 10-5-113(3)(a)Subsection 10-5-113(3)(a)Provision

Source excerpt

The town council may, in a budget year, move money from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements.

The town council may, in a budget year, appropriate from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements: for the purpose of financing future specified capital improvements; and in accordance with a formal long-range capital plan adopted by the governing body.
Section 10-5-113(3)(a)Verify source
§ 10-5-113(3)(a)(i)Subsection 10-5-113(3)(a)(i)Provision

Source excerpt

for the purpose of financing future specified capital improvements; and

for the purpose of financing future specified capital improvements; and
Section 10-5-113(3)(a)(i)Verify source
§ 10-5-113(3)(a)(ii)Subsection 10-5-113(3)(a)(ii)Provision

Source excerpt

Must be in accordance with a formal long-range capital plan adopted by the governing body.

in accordance with a formal long-range capital plan adopted by the governing body.
Section 10-5-113(3)(a)(ii)Verify source
§ 10-5-113(3)(b)Subsection 10-5-113(3)(b)Provision

Source excerpt

Reserves described in Subsection (3)(a) may accumulate year to year in a capital improvements fund until enough has built up for economical spending on the stated purposes.

The reserves described in Subsection (3)(a) may accumulate from year to year in a capital improvements fund until the accumulated total is sufficient to permit economical expenditure for the specified purposes.
Section 10-5-113(3)(b)Verify source

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