17B-1-605. Budget required for certain funds -- Capital projects fund.
(1) The budget officer of each special district shall prepare for each budget year a budget for each of the following funds: the General Fund; special revenue funds; debt service funds; capital projects funds; proprietary funds, in accordance with Section; 17B-1-629 if the special district has a local fund, as defined in Section, the local fund; and 53-2a-602 any other fund or funds for which a budget is required by the uniform system of budgeting, accounting, and reporting.
(2) 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. The special district shall prepare a separate budget for the term of the projects as well as the annual budget required under Subsection. (1)