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