Section 102 – Applicability.
Effective 5/12/2015 10-5-102. Applicability. This chapter shall apply to all: (1) towns; and (2) metro townships of the second class to the same extent as a town. Amended by Chapter 352, 2015 General Session
Section 102.5 – Definitions.
Effective 5/13/2014 10-5-102.5. Definitions. As used in this chapter: (1) “Enterprise fund” means a fund as defined by the Governmental Accounting Standards Board that is used by a municipality to report an activity for which a fee is charged to users for goods or services. (2) “Fund” is as defined by the Governmental Accounting Standards […]
Section 103 – Withholding state money of town failing to file budget.
10-5-103. Withholding state money of town failing to file budget. The state auditor is authorized to withhold state money allocated to a town if that town fails to file a copy of a formally adopted budget or fails to comply with the annual financial reporting and independent auditing requirements of this chapter. Such money may […]
Section 104 – Fiscal year.
10-5-104. Fiscal year. The fiscal year of all towns shall begin July 1 of each year and shall end June 30 of the following year. Enacted by Chapter 34, 1983 General Session
Section 105 – Revenue and expenditure records.
10-5-105. Revenue and expenditure records. Towns shall record their revenues and expenditures according to current generally accepted accounting principles prescribed by the state auditor. Enacted by Chapter 34, 1983 General Session
Section 106 – Funds for which budget prepared.
Effective 5/13/2014 10-5-106. Funds for which budget prepared. The mayor shall prepare for each budget year a budget for: (1) the town general fund, including state allocated road funds; (2) special revenue funds; (3) debt service funds; (4) capital improvement funds; and (5) enterprise funds. Amended by Chapter 176, 2014 General Session
Section 107 – Tentative budgets required for public inspection — Contents — Adoption of tentative budget.
Effective 5/9/2017 10-5-107. Tentative budgets required for public inspection — Contents — Adoption of tentative budget. (1) (a) On or before the first regularly scheduled town council meeting of May, the mayor shall: (i) in accordance with Subsection (1)(b), prepare for the ensuing year a tentative budget for each fund for which a budget is […]
Section 107.5 – Transfer of enterprise fund money to another fund.
Effective 7/1/2021 10-5-107.5. Transfer of enterprise fund money to another fund. (1) As used in this section: (a) “Budget hearing” means a public hearing required under Section 10-5-108. (b) “Enterprise fund accounting data” means a detailed overview of the various enterprise funds of the town that includes: (i) a cost accounting breakdown of how money […]
Section 108 – Budget hearing — Notice — Adjustments.
Effective 7/1/2021 10-5-108. Budget hearing — Notice — Adjustments. (1) Prior to the adoption of the final budget or an amendment to a budget, a town council shall hold a public hearing to receive public comment. (2) The town council shall provide notice of the place, purpose, and time of the public hearing by posting […]
Section 109 – Adoption of budgets — Filing.
Effective 5/14/2019 10-5-109. Adoption of budgets — Filing. (1) Before June 30 of each year, or September 1 in the case of a property tax increase under Sections 59-2-919 through 59-2-923, the council shall by resolution or ordinance adopt a budget for the ensuing fiscal year for each fund for which a budget is required […]
Section 110 – Budgets effective for year — Amendment — Public access.
10-5-110. Budgets effective for year — Amendment — Public access. On final adoption, each budget shall be in effect for the budget year, subject to later amendment. A copy of each adopted budget shall be available to the public during regular business hours. Enacted by Chapter 34, 1983 General Session
Section 111 – Basis for property tax levy.
10-5-111. Basis for property tax levy. From the effective date of the budget or of any amendment enacted prior to the date on which property taxes are levied, the amount stated therein as the amount of estimated revenue from property taxes shall constitute the basis for determining the property tax levy to be set by […]
Section 112 – Property tax levy set by ordinance — Maximum — Certification.
Effective 7/1/2021 10-5-112. Property tax levy set by ordinance — Maximum — Certification. (1) Not later than June 22 of each year, or September 1 in the case of a property tax increase under Sections 59-2-919 through 59-2-923, the council, at a regular meeting or special meeting called for that purpose, shall by ordinance or […]
Section 112.4 – Property taxes levied for specified services — Special revenue fund — Limitations on expenditures.
Effective 5/14/2019 10-5-112.4. Property taxes levied for specified services — Special revenue fund — Limitations on expenditures. (1) A town may account separately for the revenues derived from a property tax, that is lawfully levied for a specific purpose, in accordance with this section. (2) To levy a property tax under this section, the legislative […]
Section 112.5 – Property tax levy for culinary water, wastewater treatment, hospitals, and recreational facilities.
Effective 5/14/2019 10-5-112.5. Property tax levy for culinary water, wastewater treatment, hospitals, and recreational facilities. (1) A town may levy a property tax for a purpose described in this section. (2) (a) A town that is not in an improvement district created to establish and maintain a wastewater collection, treatment, or disposal system or a […]
Section 113 – Accumulation of retained earnings or fund balance — Limit as to general fund — Reserve for capital improvements.
Effective 5/5/2021 10-5-113. Accumulation of retained earnings or fund balance — Limit as to general fund — Reserve for capital improvements. (1) A town may accumulate retained earnings or fund balances, as appropriate, in any fund. (2) The accumulation of a fund balance in the town general fund may not exceed 100% of the total […]
Section 114 – Appropriations limited to estimated revenue.
Effective 5/10/2016 10-5-114. Appropriations limited to estimated revenue. (1) The council may not make any appropriation in the final budget of any fund in excess of the estimated expendable revenue for the budget year of such fund. (2) If there is a deficit fund balance in a fund at the close of the last completed […]
Section 115 – Expenditures limited to appropriations — Obligations in excess invalid — Processing claims required.
10-5-115. Expenditures limited to appropriations — Obligations in excess invalid — Processing claims required. Town officers may not make or incur expenditures or encumbrances in excess of total appropriations for any department in the budget as adopted or as subsequently amended. Any obligation contracted by any such officer may not be or become valid or […]
Section 116 – Transfer of unencumbered appropriation balance.
10-5-116. Transfer of unencumbered appropriation balance. The council may reduce or transfer any unencumbered or unexpended appropriation balance or portion thereof from one department in a fund to another within the same fund, but no appropriation for debt retirement and interest, reduction of deficit, or other appropriation required by law or ordinance shall be reduced […]
Section 117 – Increasing budget total of fund.
10-5-117. Increasing budget total of fund. Except for enterprise funds, which may be increased without a public hearing, the council may increase the budget total of one or more of these funds by following the procedures set forth in Section 10-5-108. Amended by Chapter 181, 1986 General Session