Utah Code § 11-13-506: Budget required for certain funds -- Capital projects fund.

(1) The budget officer shall prepare for each budget year a budget, subject to Section 11-13-507, for each of the following funds, to the extent applicable:

(a) the general fund;

(b) each special revenue fund, as that term is used in generally accepted accounting principles;

(c) each debt service fund, as that term is used in generally accepted accounting principles;

(d) each capital projects fund, as that term is used in generally accepted accounting principles;

(e) each proprietary fund in accordance with Section 11-13-524; and

(f) if the interlocal entity has a local fund, as defined in Section 53-2a-602, the local fund.

(2)

(a) A major capital improvement financed by general obligation bonds, capital grants, or interfund transfers shall use a capital projects fund budget unless the improvement financed is to be used for proprietary type activities.

(b) The interlocal entity shall prepare a separate budget for the term of a capital improvement described in Subsection (2)(a) as well as the annual budget required under Subsection (1).