Utah Admin. Code R277-420-2 - Definitions
(1)
(a)
"Interfund transfer" means a transaction which withdraws money from one fund
and places it in another without recourse.
(b) An interfund transfer is regulated by
statute and Board rules.
(c)
"Interfund transfers" do not include interfund loans in which money is
temporarily withdrawn from a fund with full obligation for repayment during the
fiscal year.
(2)
"Without recourse" means there is no obligation to return withdrawn money to
the fund from which it was transferred.
Notes
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