11-36a-601. Accounting of impact fees.
A local political subdivision that collects an impact fee shall:
(1) establish a separate interest bearing ledger account for each type of public facility for which an impact fee is collected;
(2) deposit a receipt for an impact fee in the appropriate ledger account established under Subsection; (1)
(3) retain the interest earned on each fund or ledger account in the fund or ledger account;
(4) at the end of each fiscal year, prepare a report that: for each fund or ledger account, shows: the source and amount of all money collected, earned, and received by the fund or ledger account during the fiscal year; and each expenditure from the fund or ledger account; accounts for all impact fee funds that the local political subdivision has on hand at the end of the fiscal year; identifies the impact fee funds described in Subsectionby: (4)(b) the year in which the impact fee funds were received; the project from which the impact fee funds were collected; the project for which the impact fee funds are budgeted; and the projected schedule for expenditure; and is: in a format developed by the state auditor; certified by the local political subdivision's chief financial officer; and transmitted to the state auditor within 180 days after the day on which the fiscal year ends.