Section 24-75-403 - Capital reserve - creation - annual appropriation - definitions(1) As used in this section: (a) "Capital construction" has the same meaning as set forth in section 24-30-1301 (2).(b) "Capital outlay" has the same meaning as set forth in section 24-75-112 (1)(a).(c) "Capital renewal" has the same meaning as set forth in section 24-30-1301 (3).(d) "Cash fund" means any fund established by law for a specific program or purpose; except that "cash fund" does not include the state general fund created by section 24-75-201, the lottery fund created in section 44-40-111, the highway users tax fund created in section 43-4-201, or the limited gaming fund created in section 44-30-701 (1).(e) "Controlled maintenance" has the same meaning as set forth in section 24-30-1301 (4).(f) "Depreciation" means an amount calculated in accordance with generally accepted accounting principles.(g) "Depreciation period" means a period determined in fiscal procedures issued by the state controller.(2) For each cash fund from which moneys are appropriated for capital outlay or capital construction, the principal department responsible for the accounting related to the fund shall identify in the fund balance report a capital reserve, which consists of an amount equal to the depreciation of the depreciable components of the capital outlay or the capital construction, based on the depreciation period.(2.5) For each cash fund from which money is appropriated for an information technology capital project, the principal department responsible for the accounting related to the cash fund shall identify in the cash fund balance report an information technology capital reserve, which consists of an amount equal to the depreciation of the depreciable components of the information technology capital project, based on the depreciation period. The provisions of this subsection (2.5) do not apply to cash funds that are excluded from the requirements of section 24-37.5-127 pursuant to section 24-37.5-127 (1)(c).(3) Any uncommitted capital reserves at the end of a fiscal year may be used for capital outlay, capital construction, capital renewal, or controlled maintenance, subject to an appropriation in the annual general appropriation act. This appropriation requirement applies even if the moneys in the fund are otherwise continuously appropriated.Amended by 2024 Ch. 485,§ 3, eff. 6/7/2024.Amended by 2018 Ch. 31, § 13, eff. 10/1/2018.Amended by 2018 Ch. 14, § 40, eff. 10/1/2018.Added by 2015 Ch. 176, § 1, eff. 5/11/2015 and applicable to fiscal years beginning on or after 7/1/2014.L. 2015: Entire section added, (HB 15-1280), ch. 176, p. 572, § 1, effective May 11. L. 2018: (1)(d) amended, (SB 18-034), ch. 14, p. 248, § 40, effective October 1; (1)(d) amended, (HB 18-1027), ch. 31, p. 364, § 13, effective October 1.Amendments to subsection (1)(d) by SB 18-034 and HB 18-1027 were harmonized.