63H-1-701 - Annual authority budget -- Fiscal year -- Public hearing required -- Auditor forms -- Requirement to file form.
63H-1-701. Annual authority budget -- Fiscal year -- Public hearing required --Auditor forms -- Requirement to file form.
(1) The authority shall prepare and its board adopt an annual budget of revenues andexpenditures for the authority for each fiscal year.
(2) Each annual authority budget shall be adopted before June 22.
(3) The authority's fiscal year shall be the period from July 1 to the following June 30.
(4) (a) Before adopting an annual budget, the authority board shall hold a public hearingon the annual budget.
(b) The authority shall provide notice of the public hearing on the annual budget by:
(i) publishing notice:
(A) at least once in a newspaper of general circulation within the authority boundaries,one week before the public hearing; and
(B) on the Utah Public Notice Website created in Section 63F-1-701, for at least oneweek immediately before the public hearing; or
(ii) if there is no newspaper of general circulation within the authority boundaries asdescribed in Subsection (4)(a)(i)(A), posting a notice of the public hearing in at least three publicplaces within the authority boundaries.
(c) The authority shall make the annual budget available for public inspection at leastthree days before the date of the public hearing.
(5) The state auditor shall prescribe the budget forms and the categories to be containedin each authority budget, including:
(a) revenues and expenditures for the budget year;
(b) legal fees; and
(c) administrative costs, including rent, supplies, and other materials, and salaries ofauthority personnel.
(6) (a) Within 30 days after adopting an annual budget, the authority board shall file acopy of the annual budget with the auditor of the county in which the authority is located, theState Tax Commission, the state auditor, the State Board of Education, and each taxing entitythat levies a tax on property from which the authority collects tax increment.
(b) The requirement of Subsection (6)(a) to file a copy of the annual budget with the stateas a taxing entity is met if the authority files a copy with the State Tax Commission and the stateauditor.
Amended by Chapter 90, 2010 General Session