| Show Notes inancial to ! of Summary 6 significant When (con’t) Statements accounting policies (Continued) City the that Council determines from fire damage flood or of the the budget General hearing such exists emergency the earthquake council by und resolution without an widespread Increase public 7 ormal budgetary integration is employed as General und year Debt Service und and Capital Projects unds the at levels subdepartmental however only the exercised at departmental level device Budgeted Utah State until for In shown adopted amounts originally amounts the during prohibits law exceeds control management unds Special Revenue Budgets adopted are is budgetary control financial accompanying City Council or as by statements by amended the the of appropriation 25 a a the the as may the resolution fund unreserved estimated year’s are balance from revenue of plus 15 year’s from sales taxes estimated property one tax revenue is fund than the above it Until unreserved balance greater amount cannot be be but used appropriated instead must to provide working capital until is unanticipated and tax received meet expenditures revenue emergency cover fund balance be for deficits Reserved appropriated specified can it the of sum of one purposes Budgets for Budgets und the the on for the of Projects accounting total in und Library and accrual and und all budget projects Revenue methods for as und prepared are of accounting und Debt Service modified accrual Special Revenue prepared the on are The for Special encumbrance Agency Redevelopment Capital and method General modified the und is Capital Projects in the reported combined financial that is with reporting encumbrances prepared Encumbrance accounting statements by in the is used the City to expenditures operating statement assure and and to with effective budgetary control comply state accountability law accepted principles require encum-branches Generally accounting open be of fund and balance not reported included a reservation as where in the financial with expenditures However statements actual to the adjusted to compared budget actual amounts are amounts are include encumbrances budgetary the on method Taxes taxes are Property after shortly City on and are levied on November taxes Sales are quarterly City ranchise and taxes remitted to collection the first delinquent and 1 collected collected are the by collected City by the County the by State the Tax and Treasurer become Property taxes of Monday August 30 after November Taxes of and remitted lien are each Commission telephone a on due and to the January 1 payable year and natural remitted gas to the companies quarterly (Continued) PB 25 |
