Revenues

Policy

FIACCT 07-01_00 Revenues- Revenue Database

Effective: July 1, 1994
Revised: January 1, 2008

Purpose

This policy provides the policies and procedures on how state departments and the Division of Finance comply the requirements of the Revenue Procedures and Control Act (UCA 63-38a-103).

A.

The Division of Finance will maintain a database that contains the information listed below for fee revenues, as required by UCA 63-38a-103. Following each requirement is a short description of where this information will be obtained.

  1. The definition of each revenue source. (Source: Department request for a new revenue source code)
  2. The following information for each revenue source code for the most recent five years:
    • The historical record of the amount collected for each of the past five years (Source: FINET Data Warehouse)
    • The department that collected the revenue (The FINET Data Warehouse)
    • The FINET coding block, including fund, appropriation unit, and organization code, into which the revenue was originally recorded each year (Source: FINET Data Warehouse)
    • A general description of the function where the largest portion of the revenue was spent each year (Source: GOPB budget request forms filled out by departments)
    • The specific legal authority that authorizes the department to collect the revenue (Source: Department request for a new revenue source code)
    • The rates charged to the individuals or entities that pay the revenue (Source: GOPB budget request forms filled out by departments)
    • The general methodology used to determine the rate charged to individuals or entities that pay the revenue (Source: GOPB budget request forms filled out by departments)
    • For dedicated credits, the revenue estimate used by the department to prepare its budget (Source: GOPB budget request forms filled out by departments)
    • For revenues other than dedicated credits, the original FINET revenue budget amount (Source: FINET Data Warehouse)
    • For dedicated credits, the amount appropriated in the annual appropriation act Lapsing of Dedicated Credits policy in this section of the manual) (Source: Detailed schedule of appropriations prepared by the Legislative Fiscal Analyst) For more information see the Revenue – Budgeting, Monitoring, and Lapsing of Dedicated Credits policy in this section of the manual)

B.

If departments need a new revenue source code established in FINET, they will contact the Division of Finance who will approve and establish new FINET revenue source codes as needed.

C.

Departments will supply all requested information on the Governor’s Office of Planning and Budget (GOPB) annual budget request forms.

D.

Departments will submit to the Division of Finance information required by this policy.

E.

The Division of Finance will provide the required information to the GOPB and Legislative Fiscal Analyst upon request.

Procedures

Responsibility

Departments


Division of Finance

Action

Submit requested information on fee revenues to both GOPB and the
Division of Finance.

Make the required information on fee revenues available to the
Governor’s Office of Planning and Budgets and the Legislative Fiscal
Analyst upon request.

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