1. (1) The budget officer of each special district shall prepare for each budget year a budget for each of the following funds:

   1. (a) the General Fund;
   2. (b) special revenue funds;
   3. (c) debt service funds;
   4. (d) capital projects funds;
   5. (e) proprietary funds, in accordance with Section 17B-1-629;
   6. (f) if the special district has a local fund, as defined in Section 53-2a-602, the local fund; and
   7. (g) any other fund or funds for which a budget is required by the uniform system of budgeting, accounting, and reporting.

2. (2)

   1. (a) Major capital improvements financed by general obligation bonds, capital grants, or interfund transfers shall use a capital projects fund budget unless the improvements financed are to be used for proprietary type activities.
   2. (b) The special district shall prepare a separate budget for the term of the projects as well as the annual budget required under Subsection (1).

Amended by Chapter 15, 2023 General Session