Section 11-36a-601 - Accounting of impact feesA 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:(a) for each fund or ledger account, shows:(i) the source and amount of all money collected, earned, and received by the fund or ledger account during the fiscal year; and(ii) each expenditure from the fund or ledger account;(b) accounts for all impact fee funds that the local political subdivision has on hand at the end of the fiscal year;(c) identifies the impact fee funds described in Subsection (4)(b) by:(i) the year in which the impact fee funds were received;(ii) the project from which the impact fee funds were collected;(iii) the project for which the impact fee funds are budgeted; and(iv) the projected schedule for expenditure; and(d) is: (i) in a format developed by the state auditor;(ii) certified by the local political subdivision's chief financial officer; and(iii) transmitted to the state auditor within 180 days after the day on which the fiscal year ends.Amended by Chapter 394, 2017 General Session ,§ 1, eff. 5/9/2017.Enacted by Chapter 47, 2011, 2011 General Session.