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Can I collect financial information from participants in Utah? What are the requirements?

To collect financial information from participants in Utah, you must comply with the requirements set forth in the Utah Public Finance Website (UPFW) rules.

Requirements for submitting financial information to UPFW

  1. Participating entities must submit detail revenue and expense transactions from their general ledger accounting system to the UPFW at least quarterly and within one month after the end of the fiscal quarter [1.1][2.1].
  2. Participating entities must submit employee compensation detail information on a basis consistent with its fiscal year to the UPFW at least once per year and within three months after the end of the fiscal year. The employee compensation detail information that is recorded in the central payroll system of the State that is operated by the Division will be submitted by the Division. Employee compensation detail information will, at a minimum, break out the following amounts separately for each employee: (i) Total wages or salary (ii) Total benefits only, benefit detail is not allowed (iii) Incentive awards (iv) Taxable allowances and reimbursements (v) Leave paid, if recorded separately from wages or salary in the participating state entity’s payroll system. In addition, the following information will be submitted for each employee: (i) Name (ii) Hourly rate for those employees paid on an hourly basis. (iii) Gender (iv) Job title [1.1][2.1].
  3. Entities must not submit any data to the UPFW that is classified as private, protected, or controlled by UCA 63G-2, Government Records Management Act. All detail transactions or records are required to be submitted; however, the words “not provided” shall be inserted into any applicable data field in lieu of private, protected, or controlled information [1.1][2.1].

Requirements for school districts and charter schools

When submitting public financial information to the Utah Public Finance Website, a school district or charter school shall classify transactions in accordance with the uniform chart of accounts that school districts and charter schools are required to use for budgeting, accounting, financial reporting, and auditing purposes pursuant to rules adopted by the State Board of Education [3.1].

Authority and Purpose

The Utah Public Finance Website rules are established pursuant to Section 67-3-12, which authorizes the Office of the State Auditor to make rules governing the posting of financial information for participating entities to the Utah Public Finance Website [2.2][1.2][2.3].

In summary, to collect financial information from participants in Utah, you must comply with the requirements set forth in the Utah Public Finance Website rules. These requirements include submitting detail revenue and expense transactions and employee compensation detail information, while ensuring that no private, protected, or controlled information is submitted. School districts and charter schools must classify transactions in accordance with the uniform chart of accounts.

Source(s):
Jurisdiction

Utah