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2025 Utah Code
Title 10 - Utah Municipal Code
Chapter 5 - Uniform Fiscal Procedures Act for Utah Towns
Section 113 - Accumulation of retained earnings or fund balance -- Limit as to general fund -- Reserve for capital improvements.
Universal Citation:
UT Code § 10-5-113 (2025)
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Effective 5/5/2021
10-5-113. Accumulation of retained earnings or fund balance -- Limit as to general fund -- Reserve for capital improvements.
Amended by Chapter 52, 2021 General Session
10-5-113. Accumulation of retained earnings or fund balance -- Limit as to general fund -- Reserve for capital improvements.
- (1) A town may accumulate retained earnings or fund balances, as appropriate, in any fund.
- (2) The accumulation of a fund balance in the town general fund may not exceed 100% of the total revenue of the town general fund for the current fiscal period.
- (3)
- (a) The town council may, in a budget year, appropriate from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements:
- (i) for the purpose of financing future specified capital improvements; and
- (ii) in accordance with a formal long-range capital plan adopted by the governing body.
- (b) The reserves described in Subsection (3)(a) may accumulate from year to year in a capital improvements fund until the accumulated total is sufficient to permit economical expenditure for the specified purposes.
- (a) The town council may, in a budget year, appropriate from estimated revenue or excess fund balance in the town general fund to a reserve for capital improvements:
Amended by Chapter 52, 2021 General Session
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