2006 Utah Code - 11-36-301 — Impact fees -- Accounting.

     11-36-301.   Impact fees -- Accounting.
     Each local political subdivision collecting impact fees shall:
     (1) establish separate interest bearing ledger accounts for each type of public facility for which an impact fee is collected;
     (2) deposit impact fee receipts in the appropriate ledger account;
     (3) retain the interest earned on each fund or account in the fund or account; and
     (4) at the end of each fiscal year, prepare a report on each fund or account showing:
     (a) the source and amount of all monies collected, earned, and received by the fund or account; and
     (b) each expenditure from the fund or account.

Enacted by Chapter 11, 1995 Special Session 1