63H-1-701. Annual authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file form.
| (1) |
The authority shall prepare and its board adopt an annual budget of revenues and expenditures for the authority for each fiscal year. |
Terms Used In Utah Code 63H-1-701
- Authority: means the Military Installation Development Authority, created under Section 63H-1-201. See Utah Code 63H-1-102
- Board: means the governing body of the authority created under Section 63H-1-301. See Utah Code 63H-1-102
- 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.
- Project area: means the land, including military land, whether consisting of a single contiguous area or multiple noncontiguous areas, described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 63H-1-102
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Property tax: includes a privilege tax imposed under Title 59, Chapter 4, Privilege Tax, except as described in Subsection (20)(b), and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 63H-1-102
- 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) |
Each annual authority budget shall be adopted before June 30. |
| (3) |
The authority’s fiscal year shall be the period from July 1 to the following June 30. |
| (4) |
| (a) |
Before adopting an annual budget, the authority board shall hold a public hearing on the annual budget. |
| (b) |
The authority shall provide notice of the public hearing on the annual budget by publishing notice, as a class A notice under Section 63G-30-102, for at least one week immediately before the day of the public hearing. |
| (c) |
The authority shall make the annual budget available for public inspection at least three days before the date of the public hearing. |
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| (5) |
The state auditor shall prescribe the budget forms and the categories to be contained in each authority budget, including:
| (a) |
revenues and expenditures for the budget year; |
| (c) |
administrative costs, including rent, supplies, and other materials, and salaries of authority personnel. |
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| (6) |
| (a) |
Within 30 days after adopting an annual budget, the authority board shall file a copy of the annual budget with the auditor of each county in which a project area of the authority is located, the State Tax Commission, the state auditor, the State Board of Education, and each taxing entity that levies a tax on property from which the authority collects property tax allocation. |
| (b) |
The requirement of Subsection (6)(a) to file a copy of the annual budget with the state as a taxing entity is met if the authority files a copy with the State Tax Commission and the state auditor. |
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Amended by Chapter 435, 2023 General Session
