17-36-16. Retained earnings -- Accumulation -- Restrictions -- Disbursements.
(1) A county may accumulate retained earnings in any enterprise or internal service fund
or a fund balance in any other fund; but with respect to the General Fund, its use shall be
restricted to the following purposes:
(a) to provide cash to finance expenditures from the beginning of the budget period until
general property taxes, sales taxes, or other revenues are collected;
(b) to provide a fund or reserve to meet emergency expenditures; and
(c) to cover unanticipated deficits for future years.
(2) (a) The maximum accumulated unappropriated surplus in the General Fund, as
determined prior to adoption of the tentative budget, may not exceed an amount equal to the
greater of:
(i) (A) for a county with a taxable value of $750,000,000 or more and a population of
100,000 or more, 20% of the total revenues of the General Fund for the current fiscal period; or
(B) for any other county, 50% of the total revenues of the General Fund for the current
fiscal period; and
(ii) the estimated total revenues from property taxes for the current fiscal period.
(b) Any surplus balance in excess of the above computed maximum shall be included in
the estimated revenues of the General Fund budget for the next fiscal period.
(3) Any fund balance exceeding 5% of the total General Fund revenues may be used for
budgetary purposes.
(4) (a) A county may appropriate funds from estimated revenue in any budget period to a
reserve for capital improvements within any capital improvements fund which has been duly
established by ordinance or resolution.
(b) Money in the reserves shall be allowed to accumulate from fiscal period to fiscal
period until the accumulated total is sufficient to permit economical expenditure for the specified
purposes.
(c) Disbursements from the reserves shall be made only by transfer to a revenue account
within a capital improvements fund pursuant to an appropriation for the fund.
(d) Expenditures from the capital improvement budget accounts shall conform to all
requirements of this act as it relates to the execution and control of budgets.
Amended by Chapter 167, 2003 General Session
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Last revised: Thursday, May 28, 2009