Utah Code 11-13-518. Transfer of appropriation balance between accounts in same fund

11-13-518. Transfer of appropriation balance between accounts in same fund.

(1)	The governing board of an interlocal entity shall establish policies for, subject to Subsection (2), the transfer of any unencumbered or unexpended appropriation balance or portion of the balance from one account in a fund to another account within the same fund.

Appropriation: means an allocation of money by the governing board in a budget for a specific purpose. See Utah Code 11-13-501
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
Board: means the Permanent Community Impact Fund Board created by Section 35A-8-304, and its successors. See Utah Code 11-13-103
Deficit: means the occurrence when expenditures exceed revenues. See Utah Code 11-13-501
Fund: has the meaning provided in generally accepted accounting principles. 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

(2)	The governing board may not reduce below the minimums required an appropriation for debt retirement and interest, reduction of deficit, or other appropriation required by law or covenant.

Enacted by Chapter 265, 2015 General Session