11-13-506. Budget required for certain funds -- Capital projects fund.
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Effective 5/12/2015
11-13-506. Budget required for certain funds -- Capital projects fund.
(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:
(a)the general fund;
(b)each special revenue fund, as that term is used in generally accepted accounting principles;
(c)each debt service fund, as that term is used in generally accepted accounting principles;
(d)each capital projects fund, as that term is used in generally accepted accounting principles;
(e)each proprietary fund in accordance with Section 11-13-524 ; and
(f)if the interlocal entity has a local fund, as defined in Section 53-2a-602 , the local fund.
(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.
(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).
Enacted by Chapter 265 , 2015 General Session