17-36-16 - Retained earnings -- Accumulation -- Restrictions -- Disbursements. - Utah Statutes

17-36-16. Retained earnings -- Accumulation -- Restrictions -- Disbursements.
(1) A county may accumulate retained earnings in any enterprise or internal service fundor a fund balance in any other fund; but with respect to the General Fund, its use shall berestricted to the following purposes:
(a) to provide cash to finance expenditures from the beginning of the budget period untilgeneral property taxes, sales taxes, or other revenues are collected;
(b) to provide a fund or reserve to meet emergency expenditures; and
(c) to cover unanticipated deficits for future years.
(2) (a) The maximum accumulated unappropriated surplus in the General Fund, asdetermined prior to adoption of the tentative budget, may not exceed an amount equal to thegreater of:
(i) (A) for a county with a taxable value of $750,000,000 or more and a population of100,000 or more, 20% of the total revenues of the General Fund for the current fiscal period; or
(B) for any other county, 50% of the total revenues of the General Fund for the currentfiscal period; and
(ii) the estimated total revenues from property taxes for the current fiscal period.
(b) Any surplus balance in excess of the above computed maximum shall be included inthe estimated revenues of the General Fund budget for the next fiscal period.
(3) Any fund balance exceeding 5% of the total General Fund revenues may be used forbudgetary purposes.
(4) (a) A county may appropriate funds from estimated revenue in any budget period to areserve for capital improvements within any capital improvements fund which has been dulyestablished by ordinance or resolution.
(b) Money in the reserves shall be allowed to accumulate from fiscal period to fiscalperiod until the accumulated total is sufficient to permit economical expenditure for the specifiedpurposes.
(c) Disbursements from the reserves shall be made only by transfer to a revenue accountwithin a capital improvements fund pursuant to an appropriation for the fund.
(d) Expenditures from the capital improvement budget accounts shall conform to allrequirements of this act as it relates to the execution and control of budgets.

Amended by Chapter 167, 2003 General Session