11-13-504.  Uniform accounting system.
     An interlocal entity shall:

(1)  establish and maintain the interlocal entity’s accounting records, and financial statements prepared from those records, as required by generally accepted accounting principles; and

Terms Used In Utah Code 11-13-504

  • 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
  • Interlocal entity: includes a governmental nonprofit corporation, as that term is defined in Section 11-13a-102. See Utah Code 11-13-501
(2)  adopt and implement internal accounting controls in light of the needs and resources of the interlocal entity.

Enacted by Chapter 265, 2015 General Session

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