2006 Utah Code - 10-5-107 — Tentative budgets required for public inspection -- Contents -- Adoption of tentative budget.

     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) prepare for the ensuing year, on forms provided by the state auditor, a tentative budget for each fund for which a budget is required;
     (ii) make the tentative budget available for public inspection; and
     (iii) submit the tentative budget to the town council.
     (b) The tentative budget of each fund shall set forth in tabular form:
     (i) actual revenues and expenditures in the last completed fiscal year;
     (ii) estimated total revenues and expenditures for the current fiscal year; and
     (iii) the mayor's estimates of revenues and expenditures for the budget year.
     (2) (a) The mayor shall:
     (i) estimate the amount of revenue available to serve the needs of each fund;
     (ii) estimate the portion to be derived from all sources other than general property taxes; and
     (iii) estimate the portion that must be derived from general property taxes.
     (b) From the estimates required by Subsection (2)(a), the mayor shall compute and disclose in the budget the lowest rate of property tax levy that will raise the required amount of revenue, calculating the levy on the latest taxable value.
     (3) (a) Before the public hearing required under Section 10-5-108, the town council:
     (i) shall review, consider, and tentatively adopt the tentative budget in any regular meeting or special meeting called for that purpose; and
     (ii) may amend or revise the tentative budget.
     (b) At the meeting at which the town council adopts the tentative budget, the council shall establish the time and place of the public hearing required under Section 10-5-108.
     (4) (a) If within any enterprise utility fund, allocations or transfers that are not reasonable allocations of costs between funds are included in a tentative budget, a written notice of the date, time, place, and purpose of the hearing shall be mailed to utility fund customers at least seven days before the hearing.
     (b) The purpose portion of the notice shall identify:
     (i) the enterprise utility fund from which money is being transferred;
     (ii) the amount being transferred; and
     (iii) the fund to which the money is being transferred.

Amended by Chapter 178, 2006 General Session