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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 10-6-116

Accumulated fund balances -- Limitations -- Excess balances -- Unanticipated excess of revenues -- Reserves for capital improvements. A city may accumulate retained earnings or fund balances, as appropriate, in any fund.…

Source excerpt

appropriationsbudget expenditurebudgetingcapital improvementscapital improvements fundfund balancefund balancesmunicipal financereserve appropriationreserves
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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“Accumulated fund balances -- Limitations -- Excess balances -- Unanticipated excess of revenues -- Reserves for capital improvements. A city may accumulate retained earnings or fund balances, as appropriate, in any fund. With respect to”

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Subsection 10-6-116(2)

The city general fund balance may not be accumulated above 35% of the city general fund’s total revenue for the current fiscal period.

Section 10-6-116(2)

Subsection 10-6-116(5)

The governing body may appropriate money in a capital improvements fund to a reserve for future capital improvements, subject to a long-range capital plan.

Section 10-6-116(5)

Subsection 10-6-116(5)(d)

Expenditures from the listed appropriation budget accounts must comply with chapter requirements for executing and controlling budgets.

Section 10-6-116(5)(d)

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

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Showing 16 of 16 provisions

Provision 16
§ 10-6-116Accumulated fund balances -- Limitations -- Excess balances -- Unanticipated excess of revenues -- Reserves for capital improvements.Provision

Source excerpt

Accumulated fund balances -- Limitations -- Excess balances -- Unanticipated excess of revenues -- Reserves for capital improvements. A city may accumulate retained earnings or fund balances, as appropriate, in any fund. With respect to

Accumulated fund balances -- Limitations -- Excess balances -- Unanticipated excess of revenues -- Reserves for capital improvements. A city may accumulate retained earnings or fund balances, as appropriate, in any fund. With respect to the city general fund only, any accumulated fund balance is restricted to the following purposes: to provide working capital to finance expenditures from the beginning of the budget period until general property taxes, sales taxes, or other applicable revenues are collected, thereby reducing the amount the city must borrow during the period; to provide a resource to meet emergency expenditures under Section 10-6-129 ; and to cover a pending year-end excess of expenditures over revenues from an unavoidable shortfall in revenues. Notwithstanding Subsection (1)(a)(i) , a city may not appropriate a fund balance for budgeting purposes except as provided in Subsection (4) . Notwithstanding Subsection (1)(a)(iii) , a city may not appropriate a fund balance to avoid an operating deficit during any budget period except as provided under Subsection (4) , or for emergency purposes under Section 10-6-129 . The accumulation of a fund balance in the city general fund may not exceed 35% of the total revenue of the city general fund for the current fiscal period. If the fund balance at the close of any fiscal period exceeds the amount permitted under Subsection (2) , the excess shall be appropriated in the manner provided in Section 10-6-117 . Any fund balance in excess of 5% of the total revenues of the city general fund may be utilized for budget purposes. Within a capital improvements fund, the governing body may, in any budget period, appropriate from estimated revenue or fund balance to a reserve for capital improvements for the purpose of financing future specific capital improvements, under a formal long-range capital plan adopted by the governing body. The reserves described in Subsection (5)(a) may accumulate from fiscal period to fiscal period until the accumulated total is sufficient to permit economical expenditure for the specified purposes. Disbursements from reserves described in Subsection (5)(a) shall be made only by transfer to a revenue or transfer account within the capital improvements fund, under a budget appropriation in a budget for the fund adopted in the manner provided by this chapter. Expenditures from the above appropriation budget accounts shall conform to all requirements of this chapter relating to execution and control of budgets.
Section 10-6-116Verify source
§ 10-6-116(1)Subsection 10-6-116(1)Provision

Source excerpt

A city may accumulate retained earnings or fund balances in any fund, but a city general fund balance is limited to specified purposes and may not be appropriated for budgeting or to avoid an operating deficit except as allowed by the cited exceptions.

A city may accumulate retained earnings or fund balances, as appropriate, in any fund. With respect to the city general fund only, any accumulated fund balance is restricted to the following purposes: to provide working capital to finance expenditures from the beginning of the budget period until general property taxes, sales taxes, or other applicable revenues are collected, thereby reducing the amount the city must borrow during the period; to provide a resource to meet emergency expenditures under Section 10-6-129 ; and to cover a pending year-end excess of expenditures over revenues from an unavoidable shortfall in revenues. Notwithstanding Subsection (1)(a)(i) , a city may not appropriate a fund balance for budgeting purposes except as provided in Subsection (4) . Notwithstanding Subsection (1)(a)(iii) , a city may not appropriate a fund balance to avoid an operating deficit during any budget period except as provided under Subsection (4) , or for emergency purposes under Section 10-6-129 .
Section 10-6-116(1)Verify source
§ 10-6-116(1)(a)Subsection 10-6-116(1)(a)Provision

Source excerpt

A city may accumulate retained earnings or fund balances in any fund.

A city may accumulate retained earnings or fund balances, as appropriate, in any fund. With respect to the city general fund only, any accumulated fund balance is restricted to the following purposes: to provide working capital to finance expenditures from the beginning of the budget period until general property taxes, sales taxes, or other applicable revenues are collected, thereby reducing the amount the city must borrow during the period; to provide a resource to meet emergency expenditures under Section 10-6-129 ; and to cover a pending year-end excess of expenditures over revenues from an unavoidable shortfall in revenues.
Section 10-6-116(1)(a)Verify source
§ 10-6-116(1)(a)(i)Subsection 10-6-116(1)(a)(i)Provision

Source excerpt

The city may use working capital to cover expenditures from the start of the budget period until tax or other revenues are collected, which helps reduce borrowing during that time.

to provide working capital to finance expenditures from the beginning of the budget period until general property taxes, sales taxes, or other applicable revenues are collected, thereby reducing the amount the city must borrow during the period;
Section 10-6-116(1)(a)(i)Verify source
§ 10-6-116(1)(a)(ii)Subsection 10-6-116(1)(a)(ii)Provision

Source excerpt

to provide a resource to meet emergency expenditures under Section 10-6-129 ; and

to provide a resource to meet emergency expenditures under Section 10-6-129 ; and
Section 10-6-116(1)(a)(ii)Verify source
§ 10-6-116(1)(a)(iii)Subsection 10-6-116(1)(a)(iii)Provision

Source excerpt

to cover a pending year-end excess of expenditures over revenues from an unavoidable shortfall in revenues.

to cover a pending year-end excess of expenditures over revenues from an unavoidable shortfall in revenues.
Section 10-6-116(1)(a)(iii)Verify source
§ 10-6-116(1)(b)Subsection 10-6-116(1)(b)Provision

Source excerpt

A city may not appropriate a fund balance for budgeting purposes, except as provided in Subsection (4).

Notwithstanding Subsection (1)(a)(i) , a city may not appropriate a fund balance for budgeting purposes except as provided in Subsection (4) .
Section 10-6-116(1)(b)Verify source
§ 10-6-116(1)(c)Subsection 10-6-116(1)(c)Provision

Source excerpt

A city may not use a fund balance to avoid an operating deficit during a budget period, except as allowed under Subsection (4) or for emergency purposes under Section 10-6-129.

Notwithstanding Subsection (1)(a)(iii) , a city may not appropriate a fund balance to avoid an operating deficit during any budget period except as provided under Subsection (4) , or for emergency purposes under Section 10-6-129 .
Section 10-6-116(1)(c)Verify source
§ 10-6-116(2)Subsection 10-6-116(2)Provision

Source excerpt

The city general fund balance may not be accumulated above 35% of the city general fund’s total revenue for the current fiscal period.

The accumulation of a fund balance in the city general fund may not exceed 35% of the total revenue of the city general fund for the current fiscal period.
Section 10-6-116(2)Verify source
§ 10-6-116(3)Subsection 10-6-116(3)Provision

Source excerpt

If the fund balance at the close of any fiscal period exceeds the amount permitted under Subsection (2) , the excess shall be appropriated in the manner provided in Section 10-6-117 .

If the fund balance at the close of any fiscal period exceeds the amount permitted under Subsection (2) , the excess shall be appropriated in the manner provided in Section 10-6-117 .
Section 10-6-116(3)Verify source
§ 10-6-116(4)Subsection 10-6-116(4)Provision

Source excerpt

A city general fund balance above 5% of total revenues may be used for budget purposes.

Any fund balance in excess of 5% of the total revenues of the city general fund may be utilized for budget purposes.
Section 10-6-116(4)Verify source
§ 10-6-116(5)Subsection 10-6-116(5)Provision

Source excerpt

The governing body may appropriate money in a capital improvements fund to a reserve for future capital improvements, subject to a long-range capital plan.

Within a capital improvements fund, the governing body may, in any budget period, appropriate from estimated revenue or fund balance to a reserve for capital improvements for the purpose of financing future specific capital improvements, under a formal long-range capital plan adopted by the governing body. The reserves described in Subsection (5)(a) may accumulate from fiscal period to fiscal period until the accumulated total is sufficient to permit economical expenditure for the specified purposes. Disbursements from reserves described in Subsection (5)(a) shall be made only by transfer to a revenue or transfer account within the capital improvements fund, under a budget appropriation in a budget for the fund adopted in the manner provided by this chapter. Expenditures from the above appropriation budget accounts shall conform to all requirements of this chapter relating to execution and control of budgets.
Section 10-6-116(5)Verify source
§ 10-6-116(5)(a)Subsection 10-6-116(5)(a)Provision

Source excerpt

The governing body may, in any budget period, move money from estimated revenue or fund balance to a reserve for capital improvements within a capital improvements fund.

Within a capital improvements fund, the governing body may, in any budget period, appropriate from estimated revenue or fund balance to a reserve for capital improvements for the purpose of financing future specific capital improvements, under a formal long-range capital plan adopted by the governing body.
Section 10-6-116(5)(a)Verify source
§ 10-6-116(5)(b)Subsection 10-6-116(5)(b)Provision

Source excerpt

The reserves described in Subsection (5)(a) may accumulate from fiscal period to fiscal period until the accumulated total is sufficient to permit economical expenditure for the specified purposes.

The reserves described in Subsection (5)(a) may accumulate from fiscal period to fiscal period until the accumulated total is sufficient to permit economical expenditure for the specified purposes.
Section 10-6-116(5)(b)Verify source
§ 10-6-116(5)(c)Subsection 10-6-116(5)(c)Provision

Source excerpt

Disbursements from the listed reserves must be made only by transfer to a revenue or transfer account in the capital improvements fund.

Disbursements from reserves described in Subsection (5)(a) shall be made only by transfer to a revenue or transfer account within the capital improvements fund, under a budget appropriation in a budget for the fund adopted in the manner provided by this chapter.
Section 10-6-116(5)(c)Verify source
§ 10-6-116(5)(d)Subsection 10-6-116(5)(d)Provision

Source excerpt

Expenditures from the listed appropriation budget accounts must comply with chapter requirements for executing and controlling budgets.

Expenditures from the above appropriation budget accounts shall conform to all requirements of this chapter relating to execution and control of budgets.
Section 10-6-116(5)(d)Verify source

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