Utah Code § 51-2a-101
Title
This chapter is known as the "Accounting Reports from Political Subdivisions, Interlocal Organizations, and Other Local Entities Act."
Utah Code Title 51 — Public Funds and Accounts
Utah · statute · Utah Code tit. 51 · 107 active provisions
Utah Code § 51-2a-102
Definitions
As used in this chapter: (1) "Accounting reports" means an audit, a review, a compilation, or a fiscal report. (2) "Audit" means an examination that: (a) is performed in accordance with generally accepted government auditing standards, or for a nonprofit corporation or a governmental nonprofit corporation, in accordanc…
Utah Code § 51-2a-201
Accounting reports required
(1) The governing board of an entity whose revenues or expenditures of all funds is $1,000,000 or more shall cause an audit to be made of its accounts by a competent certified public accountant. (2) The governing board of an entity whose revenues or expenditures of all funds is less than $1,000,000 shall cause a financ…
Utah Code § 51-2a-201.5
Accounting reports required -- Reporting to state auditor -- Registration as a limited purpose entity
(1) As used in this section: (a) (i) "Federal pass through money" means federal money received by a nonprofit corporation through a subaward or contract from the state or a political subdivision. (ii) "Federal pass through money" does not include federal money received by a nonprofit corporation as payment for goods or…
Utah Code § 51-2a-202
Reporting requirements
(1) The governing board of each entity required to have an audit, review, compilation, or fiscal report shall ensure that the audit, review, compilation, or fiscal report is: (a) made at least annually; and (b) filed with the state auditor within six months of the close of the fiscal year of the entity. (2) If the poli…
Utah Code § 51-2a-203
Audit reports -- Preservation
(1) The governing body of each political subdivision and each interlocal organization or other local entity required to submit an accounting report shall: (a) file and preserve all accounting reports; and (b) file copies of all accounting reports with the state auditor. (2) Copies of the accounting reports are open to…
Utah Code § 51-2a-301
State auditor responsibilities
(1) Except for political subdivisions that do not receive or expend public funds, the state auditor shall adopt guidelines, qualifications criteria, and procurement procedures for use in the procurement of audit services for all entities that are required by Section 51-2a-201 to cause an accounting report to be made. (…
Utah Code § 51-2a-401
Prohibiting access to and withholding funds from an entity that does not comply with reporting requirements
(1) If a political subdivision, interlocal organization, or other local entity does not comply with the accounting report requirements of Section 51-2a-201, the state auditor may: (a) withhold allocated state funds to pay the cost of the accounting report, in accordance with Subsection (2); or (b) prohibit financial ac…
Utah Code § 51-2a-402
Accounting reports of entity not complying with the report requirements
(1) The state auditor shall make, or shall cause an accounting report to be made, of any entity that does not comply with the accounting report requirements as provided in Title 51, Chapter 2a, Part 2, Accounting Reports. (2) The state auditor shall contract with a licensed certified public accountant to complete the a…
Utah Code § 51-2a-403
General Fund reimbursed for accounting report of nonappropriated activities -- Amount of reimbursement
(1) The General Fund shall be reimbursed by the entity for which an audit, review, or compilation are in whole or in part performed, whenever the state auditor or legislative auditor general is required by law or constitutional provision to perform that audit, review, or compilation or cause that audit, review, or comp…
Utah Code § 51-4-1
Deposits by state officers, boards, commissions, institutions, departments, divisions, agencies, and similar instrumentalities
(1) As used in this section, "agency" means each officer, board, commission, institution, department, division, agency, and other similar instrumentality of the state of Utah. (2) Except as provided under Section 53H-8-502, or through the receipt of a written variance from the state treasurer, each agency shall deposit…
Utah Code § 51-4-2
Deposits by political subdivisions
(1) As used in this section: (a) "Officer" means each: (i) county treasurer, county auditor, county assessor, county clerk, clerk of the district court, city treasurer, city clerk, justice court judge; and (ii) other officer of a political subdivision. (b) "Political subdivision" means a county, city, town, school dist…
Utah Code § 51-5-1
Short title
This chapter is known as the "Funds Consolidation Act."
Utah Code § 51-5-2
Legislative policy -- General requirements
(1) Each administrative unit of state government shall comply with this chapter, which establishes the state's fiscal procedures for state government funds. (2) Except when in conflict with constitutional and statutory provisions, each administrative unit of state government shall apply generally accepted accounting pr…
Utah Code § 51-5-3
Definitions
As used in this chapter: (1) "Account groups" means a self-balancing set of accounts used to establish accounting control and accountability for the state's general fixed assets and general long-term obligations. (2) "Accrual basis" means the basis of accounting under which revenues are recorded when earned and expendi…
Utah Code § 51-5-4
Funds established -- Titles of funds -- Fund functions
(1) (a) (i) The funds enumerated in this section are established as major fund types. (ii) All resources and financial transactions of Utah state government shall be accounted for within one of these major fund types. (b) (i) All funds or subfunds shall be consolidated into one of the state's major fund types. (ii) Whe…
Utah Code § 51-5-4.5
Housing Corporation exempt
The Utah Housing Corporation is exempt from this chapter.
Utah Code § 51-5-5
Authority to establish funds or subfunds
The Division of Finance shall, when necessary, establish funds or subfunds, including budgetary and proprietary accounting funds or subfunds within the framework of the major fund types established by this chapter.
Utah Code § 51-5-6
Accounting principles and specific accounting and financial reporting procedures
(1) The Division of Finance shall: (a) use generally accepted accounting principles applicable to governmental units in: (i) its accounting procedures; and (ii) its reports of the state's financial position and results of operations in each fiscal period; and (b) note any deviation for budget purposes in the state's fi…
Utah Code § 51-5-7
Revenues and other resources of governmental funds subject to legislative review and appropriation
The revenues and other resources of the governmental funds are subject to legislative review and appropriation for each fiscal period.
Utah Code § 51-5-8
Construction of terms and provisions relating to funds in other statutes
(1) Direct or indirect references to the word "fund," or any other synonymous word contained in the Utah Code Annotated 1953, that is used to identify a separate accounting entity, means a fund account or subfund except where that fund meets the definition of a major fund type according to generally accepted accounting…
Utah Code § 51-7-1
Short title of chapter
This chapter shall be known and may be cited as the "State Money Management Act."
Utah Code § 51-7-2
Exemptions from chapter
(1) Except as provided in Subsection (2), the following funds are exempt from this chapter: (a) funds invested in accordance with the participating employees' designation or direction pursuant to a public employees' deferred compensation plan established and operated in compliance with Section 457 of the Internal Reven…
Utah Code § 51-7-3
Definitions
As used in this chapter: (1) "Agent" means the same as that term is defined in Section 61-1-13. (2) "Certified dealer" means: (a) a primary reporting dealer recognized by the Federal Reserve Bank of New York who is certified by the director as having met the applicable criteria of council rule; or (b) a broker dealer w…
Utah Code § 51-7-3.5
State fiscal year
The fiscal year of the state of Utah shall commence on the first day of July of each year.
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