CAD School Board Budget Before June 22 of each year, the Board shall adopt a budget and make appropriations for the next fiscal year. Utah Code § 53G-7-303(2)(a) (2018) Tax Rate If the tax rate in the proposed budget exceeds the tax rate defined in Utah Code § 59-2-924, the Board shall comply with the provisions of Utah Code § 59-2-919, unless one of the exceptions to those provisions (relating to prior voted local levy increases) set forth in Utah Code § 53F-8-301 applies. Utah Code § 53G-7-303(2)(b) (2018) Utah Code § 53F-8-301 (2018) Adoption of a Budget Before the adoption of a budget, the Board shall hold an open, public hearing on the proposed Budget, at which public comment is received. In preparation for the hearing, the Board shall: 1. In addition to complying with the open meeting notice requirements set forth in Policy BEA, publish notice that the Board will consider and adopt a budget at the designated Board meeting in a newspaper of general circulation within the District at least ten days before the day on which the meeting is held; 2. File a copy of the proposed budget with the Business Administrator for public inspection at least ten days prior to the hearing; and 3. Post the proposed budget on the District's website. Utah Code § 53G-7-303(3) (2018) Filing Budget The Board shall file a copy of the adopted budget with the state auditor and the State Board of Education. Utah Code § 53G-7-303(5) (2018) Undistributed Reserve The Board may place an undistributed reserve in the budget that does not exceed 5% of the maintenance and operation budget in accordance with the schedule adopted by the State Board of Education. Utah Code § 53G-7-304(1) (2018) Application of Undistributed Reserve The Board may appropriate all or part of the undistributed reserve made to any expenditure classification in the maintenance and operation budget by a written resolution adopted by a majority vote of the Board. The resolution shall state the reasons for the appropriation. A copy of the resolution shall be filed with the State Board of Education and the State Auditor.
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