17B-1-625 - Transfer of balances in special funds. - Utah Statutes

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Statutes > Utah > Title-17b > Chapter-01 > 17b-1-625

17B-1-625. Transfer of balances in special funds.
If the necessity for maintaining any special fund of a district ceases to exist and a balanceremains in the fund, the board of trustees shall authorize the transfer of the balance to the fundbalance in the general fund of the district, subject to the following:
(1) Any balance remaining in a special assessment fund and not required in its guarantyfund shall be treated in the manner provided in Sections 11-42-413 and 11-42-701.
(2) Any balance remaining in a capital projects fund shall be transferred to theappropriate debt service fund or other fund as the bond covenants may require and otherwise tothe fund balance account in the general fund.
(3) If any balance held in a trust fund for a specific purpose, other than a cemeteryperpetual care trust fund, is to be transferred because its original purpose or restriction has ceasedto exist, a public hearing shall be held in the manner provided in Sections 17B-1-609 and17B-1-610. The published notice shall invite those persons who contributed to the fund to appearat the hearing. If the board of trustees determines the fund balance amounts are refundable to theoriginal contributors, a 30-day period following the hearing shall be allowed for persons havingan interest in the fund to file with the board of trustees a verified claim only for the amount ofeach claimant's contributions. Any claim not so filed shall be barred. Any balance remaining,after refunds to eligible contributors, shall be transferred to the fund balance account in thegeneral fund of the district.
(4) If the board of trustees decides, in conformity with applicable laws, that the need forcontinuing maintenance of its cemetery perpetual care trust fund no longer exists, it may transferthe balance in the fund to the capital projects fund for expenditure for land, buildings, and majorimprovements to be used exclusively for cemetery purposes.

Renumbered and Amended by Chapter 329, 2007 General Session

State Codes and Statutes

Statutes > Utah > Title-17b > Chapter-01 > 17b-1-625

17B-1-625. Transfer of balances in special funds.
If the necessity for maintaining any special fund of a district ceases to exist and a balanceremains in the fund, the board of trustees shall authorize the transfer of the balance to the fundbalance in the general fund of the district, subject to the following:
(1) Any balance remaining in a special assessment fund and not required in its guarantyfund shall be treated in the manner provided in Sections 11-42-413 and 11-42-701.
(2) Any balance remaining in a capital projects fund shall be transferred to theappropriate debt service fund or other fund as the bond covenants may require and otherwise tothe fund balance account in the general fund.
(3) If any balance held in a trust fund for a specific purpose, other than a cemeteryperpetual care trust fund, is to be transferred because its original purpose or restriction has ceasedto exist, a public hearing shall be held in the manner provided in Sections 17B-1-609 and17B-1-610. The published notice shall invite those persons who contributed to the fund to appearat the hearing. If the board of trustees determines the fund balance amounts are refundable to theoriginal contributors, a 30-day period following the hearing shall be allowed for persons havingan interest in the fund to file with the board of trustees a verified claim only for the amount ofeach claimant's contributions. Any claim not so filed shall be barred. Any balance remaining,after refunds to eligible contributors, shall be transferred to the fund balance account in thegeneral fund of the district.
(4) If the board of trustees decides, in conformity with applicable laws, that the need forcontinuing maintenance of its cemetery perpetual care trust fund no longer exists, it may transferthe balance in the fund to the capital projects fund for expenditure for land, buildings, and majorimprovements to be used exclusively for cemetery purposes.

Renumbered and Amended by Chapter 329, 2007 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-17b > Chapter-01 > 17b-1-625

17B-1-625. Transfer of balances in special funds.
If the necessity for maintaining any special fund of a district ceases to exist and a balanceremains in the fund, the board of trustees shall authorize the transfer of the balance to the fundbalance in the general fund of the district, subject to the following:
(1) Any balance remaining in a special assessment fund and not required in its guarantyfund shall be treated in the manner provided in Sections 11-42-413 and 11-42-701.
(2) Any balance remaining in a capital projects fund shall be transferred to theappropriate debt service fund or other fund as the bond covenants may require and otherwise tothe fund balance account in the general fund.
(3) If any balance held in a trust fund for a specific purpose, other than a cemeteryperpetual care trust fund, is to be transferred because its original purpose or restriction has ceasedto exist, a public hearing shall be held in the manner provided in Sections 17B-1-609 and17B-1-610. The published notice shall invite those persons who contributed to the fund to appearat the hearing. If the board of trustees determines the fund balance amounts are refundable to theoriginal contributors, a 30-day period following the hearing shall be allowed for persons havingan interest in the fund to file with the board of trustees a verified claim only for the amount ofeach claimant's contributions. Any claim not so filed shall be barred. Any balance remaining,after refunds to eligible contributors, shall be transferred to the fund balance account in thegeneral fund of the district.
(4) If the board of trustees decides, in conformity with applicable laws, that the need forcontinuing maintenance of its cemetery perpetual care trust fund no longer exists, it may transferthe balance in the fund to the capital projects fund for expenditure for land, buildings, and majorimprovements to be used exclusively for cemetery purposes.

Renumbered and Amended by Chapter 329, 2007 General Session