63H-1-701. Annual authority budget -- Fiscal year -- Public hearing required -- Auditor forms -- Requirement to file form.

300 words·~1 min read·/ut/title-63h/chapter-1/63h-1-701

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Effective 3/21/2024

(1)The authority shall prepare an annual budget of revenues and expenditures for the authority for each fiscal year.

(2)The board shall adopt the annual authority budget before June 30.

(3)The authority's fiscal year shall be the period from July 1 to the following June 30.

(a)Before adopting an annual budget, the authority board shall hold a public hearing on the annual budget.

(b)The authority shall provide notice of the public hearing on the annual budget by publishing notice, as a class A notice under Section 63G-30-102 , for at least one week immediately before the day of the public hearing.

(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:

(a)revenues and expenditures for the budget year; and

(b)administrative costs, including legal fees, rent, supplies, and other materials, and salaries of authority personnel.

(a)Within 30 days after adopting an annual budget, the authority board shall file a copy of the annual budget with the auditor of each county in which a project area of the authority 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 allocation.

(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.