A. All Funds: The city may accumulate retained earnings or fund balances, as appropriate, in any fund in accordance with applicable provisions of the uniform fiscal procedures act and the uniform accounting manual.
B. General Fund: Accumulated fund balances in the general fund are restricted to purposes permitted by law. Any fund balance in excess of five percent (5%) of the total revenues of the general fund may be utilized for budget purposes. Except as otherwise provided in the uniform fiscal procedures act or the uniform accounting manual, any accumulated fund balance in the general fund may not exceed eighteen percent (18%) of the total estimated revenue of the general fund. If the fund balance at the close of any fiscal period exceeds the amount permitted herein, the excess shall be appropriated in the manner provided in Utah Code Annotated section 10-6-117, as amended.
C. Capital Improvement Fund: Within a capital improvement fund, the city council may, in any budget period, appropriate from estimated revenue or fund balance to a reserve for capital improvements for purposes set forth in the uniform fiscal procedures act and the uniform accounting manual. (Ord. 2012-30, 10-2-2012)