| (1) |
The governing body of any city may not make any appropriation in the final budget of any fund in excess of the estimated expendable revenue for the budget period of the fund. |
Terms Used In Utah Code 10-6-117
- Appropriation: means an allocation of money by the governing body for a specific purpose. See Utah Code 10-6-106
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Budget: means a plan of financial operations for a fiscal period which embodies estimates of proposed expenditures for given purposes and the proposed means of financing them. See Utah Code 10-6-106
- Budget period: means the fiscal period for which a budget is prepared. See Utah Code 10-6-106
- City: includes , depending on population, a metro township as defined in Section 10-3c-102. 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: is a s defined by generally accepted accounting principles as reflected in the Uniform Accounting Manual for Utah Cities. See Utah Code 10-6-106
- Governing body: means a city council, or city commission, as the case may be, but the authority to make any appointment to any position created by this chapter is vested in the mayor in the council-mayor optional form of government. See Utah Code 10-6-106
| (2) |
If there is a deficit fund balance in a fund at the close of the last completed fiscal year, the governing body of a city shall include an item of appropriation for the deficit in the current budget of the fund equal to:
| (a) |
at least 5% of the total revenue of the fund in the last completed fiscal year; or |
| (b) |
if the deficit is equal to less than 5% of the total revenue of the fund in the last completed fiscal year, the entire amount of the deficit. |
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Amended by Chapter 353, 2016 General Session
