11-13-501. Definitions. As used in this part:
| (1) |
“Appropriation” means an allocation of money by the governing board in a budget for a specific purpose. |
Terms Used In Utah Code 11-13-501
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the Permanent Community Impact Fund Board created by Section 35A-8-304, and its successors. See Utah Code 11-13-103
- Budget: means a plan of financial operations for a fiscal year that embodies estimates of proposed expenditures for given purposes and the proposed means of financing them, and may refer to the budget of a particular fund for which a budget is required by law or may refer collectively to the budgets for all required funds. See Utah Code 11-13-501
- Budget year: means the fiscal year for which a budget is prepared. See Utah Code 11-13-501
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: means the annual period for accounting for fiscal operations in an interlocal entity. See Utah Code 11-13-501
- 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: has the meaning provided in generally accepted accounting principles. See Utah Code 11-13-501
- General fund: has the meaning provided in generally accepted accounting principles. See Utah Code 11-13-501
- Generally accepted accounting principles: means the accounting principles and standards promulgated from time to time by authoritative bodies in the United States. See Utah Code 11-13-501
- Governing board: includes a board of directors described in an agreement, as amended, that creates a project entity. See Utah Code 11-13-103
- Interlocal entity: includes a governmental nonprofit corporation, as that term is defined in Section 11-13a-102. See Utah Code 11-13-501
- Interlocal entity general fund: means the general fund of an interlocal entity. See Utah Code 11-13-501
- Internal service funds: has the meaning provided in generally accepted accounting principles. See Utah Code 11-13-501
- Person: means :Utah Code 68-3-12.5
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
| (2) |
“Budget” means a plan of financial operations for a fiscal year that embodies estimates of proposed expenditures for given purposes and the proposed means of financing them, and may refer to the budget of a particular fund for which a budget is required by law or may refer collectively to the budgets for all required funds. |
| (3) |
“Budget officer” means the person appointed by an interlocal entity governing board to prepare the budget for the interlocal entity. |
| (4) |
“Budget year” means the fiscal year for which a budget is prepared. |
| (5) |
“Calendar year entity” means an interlocal entity whose fiscal year begins January 1 and ends December 31 of each calendar year as described in Section 11-13-503. |
| (6) |
“Current year” means the fiscal year in which a budget is prepared and adopted, and which is the fiscal year immediately preceding the budget year. |
| (7) |
“Deficit” means the occurrence when expenditures exceed revenues. |
| (8) |
“Enterprise fund” has the meaning provided in generally accepted accounting principles. |
| (9) |
“Estimated revenue” means the amount of revenue estimated to be received from all sources during the budget year in each fund for which a budget is being prepared. |
| (10) |
“Fiscal year” means the annual period for accounting for fiscal operations in an interlocal entity. |
| (11) |
“Fiscal year entity” means an interlocal entity whose fiscal year begins July 1 of each year and ends on June 30 of the following year as described in Section 11-13-503. |
| (12) |
“Fund” has the meaning provided in generally accepted accounting principles. |
| (13) |
“Fund balance” has the meaning provided in generally accepted accounting principles. |
| (14) |
“General fund” has the meaning provided in generally accepted accounting principles. |
| (15) |
“Generally accepted accounting principles” means the accounting principles and standards promulgated from time to time by authoritative bodies in the United States. |
| (16) |
“Governmental fund” has the meaning provided in generally accepted accounting principles. |
| (17) |
“Interfund loan” means a transfer of assets from one fund to another, subject to future repayment. |
| (18) |
“Interlocal entity” includes a governmental nonprofit corporation, as that term is defined in Section 11-13a-102. |
| (19) |
“Interlocal entity general fund” means the general fund of an interlocal entity. |
| (20) |
“Internal service funds” has the meaning provided in generally accepted accounting principles. |
| (21) |
“Last completed fiscal year” means the fiscal year immediately preceding the current fiscal year. |
| (22) |
“Proprietary fund” means enterprise funds and the internal service funds of an interlocal entity. |
| (23) |
“Public funds” means any money or payment collected or received by an interlocal entity, including money or payment for services or goods provided by the interlocal entity. |
| (24) |
“Retained earnings” has the meaning provided in generally accepted accounting principles. |
| (25) |
“Special fund” means an interlocal entity fund other than the interlocal entity general fund. |
Amended by Chapter 441, 2017 General Session
