State Codes and Statutes
Statutes > Utah > Title-17b > Chapter-01 > 17b-1-60117B-1-601. Definitions.
As used in this part:
(1) "Appropriation" means an allocation of money by the board of trustees for a specificpurpose.
(2) "Budget" means a plan of financial operations for a fiscal year which embodiesestimates of proposed expenditures for given purposes and the proposed means of financingthem, and may refer to the budget of a particular fund for which a budget is required by law or itmay refer collectively to the budgets for all such funds.
(3) "Budget officer" means the person appointed by the local district board of trustees toprepare the budget for the district.
(4) "Budget year" means the fiscal year for which a budget is prepared.
(5) "Calendar year entity" means a local district whose fiscal year begins January 1 andends December 31 of each calendar year as described in Section 17B-1-602.
(6) "Current year" means the fiscal year in which a budget is prepared and adopted,which is the fiscal year next preceding the budget year.
(7) "Deficit" has the meaning given under generally accepted accounting principles asreflected in the Uniform Accounting Manual for Local Districts.
(8) "Estimated revenue" means the amount of revenue estimated to be received from allsources during the budget year in each fund for which a budget is being prepared.
(9) "Financial officer" means the official under Section 17B-1-642.
(10) "Fiscal year" means the annual period for accounting for fiscal operations in eachdistrict.
(11) "Fiscal year entity" means a local district whose fiscal year begins July 1 of eachyear and ends on June 30 of the following year as described in Section 17B-1-602.
(12) "Fund" has the meaning given under generally accepted accounting principles asreflected in the Uniform Accounting Manual for Local Districts.
(13) "Fund balance" has the meaning given under generally accepted accountingprinciples as reflected in the Uniform Accounting Manual for Local Districts.
(14) "Governmental funds" means the general fund, special revenue fund, debt servicefund, and capital projects fund of a local district.
(15) "Interfund loan" means a loan of cash from one fund to another, subject to futurerepayment. It does not constitute an expenditure or a use of retained earnings or fund balance ofthe lending fund or revenue to the borrowing fund.
(16) "Last completed fiscal year" means the fiscal year next preceding the current fiscalyear.
(17) "Proprietary funds" means enterprise funds and the internal service funds of a localdistrict.
(18) "Public funds" means any money or payment collected or received by an officer oremployee of a local district acting in an official capacity and includes money or payment to theofficer or employee for services or goods provided by the district, or the officer or employeewhile acting within the scope of employment or duty.
(19) "Retained earnings" has the meaning given under generally accepted accountingprinciples as reflected in the Uniform Accounting Manual for Local Districts.
(20) "Special fund" means any local district fund other than the local district's generalfund.
Renumbered and Amended by Chapter 329, 2007 General Session
