The Utah County Commission meeting on October 25, 2023, focused on the county's financial outlook amid a declining economic environment. Officials discussed the anticipated budget for 2024, highlighting a projected deficit of approximately $14 million, which will be covered by the county's rainy day fund.

During the meeting, it was noted that overall costs in the general fund are expected to rise by 6% from 2023 to 2024. Sales tax projections have decreased to 2.5%, a significant drop from the historical range of 5% to 7%. Property tax growth is also forecasted to decline, with estimates dropping to around 3% due to fewer building permits issued in 2023.

A key point of discussion was the increase in the health department's budget, which will require an additional $4 million to balance for 2024. This increase is attributed to rising operational costs and the need for enhanced funding to maintain services.

Wage growth was reported at 8.6%, aligning with historical trends, but still above desired levels. Additionally, materials and supplies costs have surged by 24%, indicating ongoing inflationary pressures.

The commission expressed concern over the county's financial trajectory, projecting a potential $20 million deficit for 2025 if revenue does not improve. Officials emphasized the importance of preparing the community for these financial challenges, as the county navigates a complex economic landscape marked by inflation and fluctuating revenue streams.