10-6-105 - Fiscal period -- Annual or biennial. - Utah Statutes

10-6-105. Fiscal period -- Annual or biennial.
(1) Except as provided in Subsection (2), the fiscal period for each city shall be an annualperiod beginning July 1 of each year and ending June 30 of the following year.
(2) (a) Notwithstanding Subsection (1), the legislative body of a city may, by ordinance,adopt for the city a fiscal period that is a biennial period beginning July 1 and ending June 30 ofthe second following calendar year.
(b) Each city adopting an ordinance under Subsection (2)(a) shall separately specify in itsbudget the amount of ad valorem property tax it intends to levy and collect during both the firsthalf and the second half of the budget period.
(c) Each city that adopts a fiscal period that is a biennial period under Subsection (2)(a)shall:
(i) comply with Sections 59-2-912 through 59-2-926 as if it had adopted a fiscal periodthat is an annual period; and
(ii) allocate budgeted revenues and expenditures to each of the two annual periods in thebiennial budget.
(d) The legislative body of each city that adopts a fiscal period that is a biennial periodunder Subsection (2)(a) shall, within 10 days after the adoption of the ordinance adopting thebiennial period, deliver a copy of the ordinance to the state auditor.

Amended by Chapter 300, 1999 General Session