Utah Code 17-36-47. Reserve fund for capital improvements — Estimate of amount required — Tax levy — Accumulation from year to year — Restriction on use
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(1) Subject to Subsection (4) the legislative body of a county that has established a reserve fund under Section 17-36-46 may:
Terms Used In Utah Code 17-36-47
- Budget: means a plan for financial operations for a fiscal period, embodying estimates for proposed expenditures for given purposes and the means of financing the expenditures. See Utah Code 17-36-3
- County legislative body: means :(8)(a) the county commission, in the county commission or expanded county commission form of government established under Title 17, Chapter 52a, Changing Forms of County Government;(8)(b) the county council, in the county executive-council optional form of government authorized by Section
17-52a-203 ; and(8)(c) the county council, in the council-manager optional form of government authorized by Section17-52a-204 . See Utah Code 68-3-12.5- 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.
- Fund: means an independent fiscal and accounting entity comprised of a sum of money or other resources segregated for a specific purpose or objective. See Utah Code 17-36-3
- Legislative: when used to describe the powers, duties, or functions of a county commission or council, refers to:
(3)(a) the power and duty to enact ordinances, levy taxes, and establish budgets; and(3)(b) those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101(1)(a) include in the annual budget or estimate of amounts required to meet the public expenses of the county for the ensuing year such sum as it considers necessary for the uses and purposes of the fund; and(1)(b) include those amounts in the annual tax levy of the county.(2) Subject to Subsection (4), the money in the fund shall be allowed to accumulate from year to year until the county legislative body determines to spend any money in the fund for the purpose specified.(3) Subject to Subsection (4), money in the fund at the end of a fiscal year shall remain in the fund as surplus available for future use, and may not be transferred to any other fund or used for any other purpose.(4) The amount of money in a reserve fund established under Section 17-36-46 may not exceed .6% of the taxable value of the county.