Utah Code 11-58-801. Annual port authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file annual budget
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(1) The authority shall prepare and its board adopt an annual budget of revenues and expenditures for the authority for each fiscal year.
Terms Used In Utah Code 11-58-801
- Authority: means the Utah Inland Port Authority, created in Section
11-58-201 . See Utah Code 11-58-102 - Authority jurisdictional land: means land within the authority boundary delineated:(2)(a) in the electronic shapefile that is the electronic component of H. See Utah Code 11-58-102
- Board: means the authority's governing body, created in Section
11-58-301 . See Utah Code 11-58-102- 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.
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Property tax: includes a privilege tax and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 11-58-102
- 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
(2) Each annual authority budget shall be adopted before June 30, except that the authority’s initial budget shall be adopted as soon as reasonably practicable after the organization of the board and the beginning of authority operations.(3) The authority’s fiscal year shall be the period from July 1 to the following June 30.(4)(4)(a) Before adopting an annual budget, the board shall hold a public hearing on the annual budget.(4)(b) The authority shall provide notice of the public hearing on the annual budget by publishing notice:(4)(b)(i) at least once in a newspaper of general circulation within the state, at least one week before the public hearing; and(4)(b)(ii) on the Utah Public Notice Website created in Section 63A-16-601, at least one week immediately before the public hearing.(4)(c) The authority shall make the annual budget available for public inspection at least three days before the date of the public hearing.(5) The state auditor shall prescribe the budget forms and the categories to be contained in each authority budget, including:(5)(a) revenues and expenditures for the budget year;(5)(b) legal fees; and(5)(c) administrative costs, including rent, supplies, and other materials, and salaries of authority personnel.(6)(6)(a) Within 30 days after adopting an annual budget, the board shall file a copy of the annual budget with the auditor of each county in which the authority jurisdictional land is located, the State Tax Commission, the state auditor, the State Board of Education, and each taxing entity that levies a tax on property from which the authority collects property tax differential.(6)(b) The requirement of Subsection (6)(a) to file a copy of the annual budget with the state as a taxing entity is met if the authority files a copy with the State Tax Commission and the state auditor. - Board: means the authority's governing body, created in Section