Utah Code 11-65-601. Annual lake authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file annual budget

11-65-601. Annual lake authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file annual budget.

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

Board: means the lake authority's governing body, created in Section 11-65-301. See Utah Code 11-65-101
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.
Lake authority: means the Utah Lake Authority, created in Section 11-65-201. See Utah Code 11-65-101
Lake authority land: means land on the lake side of the lake authority boundary. See Utah Code 11-65-101
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5

(2)	An annual lake authority budget shall be adopted before June 22, except that the lake authority’s initial budget shall be adopted as soon as reasonably practicable after the organization of the board and the beginning of lake authority operations.

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

(4)

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

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

(c)	The lake 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 lake authority budget, including:

(a)	revenues and expenditures for the budget year;

(b)	legal fees; and

(c)	administrative costs, including rent, supplies, and other materials, and salaries of lake authority personnel.

(6)	Within 30 days after adopting an annual budget, the board shall file a copy of the annual budget with the auditor of each county in which lake authority land is located, the State Tax Commission, and the state auditor.

Amended by Chapter 435, 2023 General Session