Utah Code 11-13-506. Budget required for certain funds — Capital projects fund
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(1) The budget officer shall prepare for each budget year a budget, subject to Section 11-13-507, for each of the following funds, to the extent applicable:
Terms Used In Utah Code 11-13-506
- Budget: means a plan of financial operations for a fiscal year that embodies estimates of proposed expenditures for given purposes and the proposed means of financing them, and may refer to the budget of a particular fund for which a budget is required by law or may refer collectively to the budgets for all required funds. See Utah Code 11-13-501
- Budget year: means the fiscal year for which a budget is prepared. See Utah Code 11-13-501
- Fund: has the meaning provided in generally accepted accounting principles. See Utah Code 11-13-501
- Generally accepted accounting principles: means the accounting principles and standards promulgated from time to time by authoritative bodies in the United States. See Utah Code 11-13-501
- Interlocal entity: includes a governmental nonprofit corporation, as that term is defined in Section 11-13a-102. See Utah Code 11-13-501
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Proprietary fund: means enterprise funds and the internal service funds of an interlocal entity. See Utah Code 11-13-501
(1)(a) the general fund;
(1)(b) each special revenue fund, as that term is used in generally accepted accounting principles;
(1)(c) each debt service fund, as that term is used in generally accepted accounting principles;
(1)(d) each capital projects fund, as that term is used in generally accepted accounting principles;
(1)(e) each proprietary fund in accordance with Section 11-13-524; and
(1)(f) if the interlocal entity has a local fund, as defined in Section 53-2a-602, the local fund.
(2)
(2)(a) A major capital improvement financed by general obligation bonds, capital grants, or interfund transfers shall use a capital projects fund budget unless the improvement financed is to be used for proprietary type activities.
(2)(b) The interlocal entity shall prepare a separate budget for the term of a capital improvement described in Subsection (2)(a) as well as the annual budget required under Subsection (1).