Utah Code 53G-7-1105. Association budgets
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(1) An association shall:
Terms Used In Utah Code 53G-7-1105
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Association: means an organization that governs or regulates a student's participation in an athletic interscholastic activity. See Utah Code 53G-7-1101
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Governing body: means a body within an association that:(6)(a) is responsible for:(6)(a)(i) adopting standards or policies that govern interscholastic activities or the administration of the association;(6)(a)(ii) adopting or amending the association's governing document or bylaws;(6)(a)(iii) enforcing the standards and policies of the association; and(6)(a)(iv) adopting the association's budget; and(6)(b) has oversight of other boards, committees, councils, or bodies within the association. See Utah Code 53G-7-1101
- Public hearing: means a hearing at which members of the public are provided a reasonable opportunity to comment on the subject of the hearing. See Utah Code 53G-7-1101
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) adopt a budget in accordance with this section; and(1)(b) use uniform budgeting, accounting, and auditing procedures and forms, which shall be in accordance with generally accepted accounting principles or auditing standards.
(2) An association budget officer or executive director shall annually prepare a tentative budget, with supporting documentation, to be submitted to the governing body.
(3) The tentative budget and supporting documents shall include the following items:
(3)(a) the revenues and expenditures of the preceding fiscal year;
(3)(b) the estimated revenues and expenditures of the current fiscal year;
(3)(c) a detailed estimate of the essential expenditures for all purposes for the next succeeding fiscal year; and
(3)(d) the estimated financial condition of the association by funds at the close of the current fiscal year.
(4) The tentative budget shall be filed with the governing body 15 days, or earlier, before the date of the tentative budget’s proposed adoption by the governing body.
(5) The governing body shall adopt a budget.
(6) Before the adoption or amendment of a budget, the governing body shall hold a public hearing on the proposed budget or budget amendment.
(7)
(7)(a) In addition to complying with Title 52, Chapter 4, Open and Public Meetings Act, in regards to the public hearing described in Subsection (6), at least 10 days before the public hearing, a governing body shall:
(7)(a)(i) publish a notice of the public hearing electronically in accordance with Section 63A-16-601; and
(7)(a)(ii) post the proposed budget on the association’s Internet website.
(7)(b) A notice of a public hearing on an association’s proposed budget shall include information on how the public may access the proposed budget as provided in Subsection (7)(a).
(8) No later than September 30 of each year, the governing body shall file a copy of the adopted budget with the state auditor and the state board.