Utah Code Title 11. Cities, Counties, and Local Taxing Units § 11-13-512. Accumulated fund balances--Limitations--Excess balances--Unanticipated excess of revenues--Reserves for capital projects

(1)(a) An interlocal entity may accumulate retained earnings or fund balances, as appropriate, in any fund.

(b) For the interlocal entity general fund only, an accumulated fund balance at the end of a budget year may be used only:

(c) Subsection (1)(b)(i) may not be construed to authorize an interlocal entity to appropriate a fund balance for budgeting purposes, except as provided in Subsection (4).

(d) Subsection (1)(b)(iii) may not be construed to authorize an interlocal entity to appropriate a fund balance to avoid an operating deficit during a budget year except:

(a) 100% of the current year's property tax collected by the interlocal entity; or

(5)(a) Within a capital projects fund the governing board may, in a budget year, appropriate from estimated revenue or a fund balance to a reserve account for capital projects for the purpose of financing future specific capital projects, including new construction, capital repairs, replacement, and maintenance, under a formal long-range capital plan adopted by the governing board.

(b) An interlocal entity may allow a reserve amount under Subsection (5)(a) to accumulate from year to year until the accumulated total is sufficient to permit economical expenditure for the specified purposes.

(c) An interlocal entity may disburse from a reserve account under Subsection (5)(a) only by a budget appropriation adopted in the manner provided by this part.

(d) Expenditures from a reserve account described in Subsection (5)(a) shall conform to all requirements of this part relating to execution and control of budgets.