Kaysville budget update: reserves stronger than expected; shortfall from failed Truth in Taxation to draw on fund balance

Kaysville city officials reported Wednesday that audited figures show the city’s general fund balance ended fiscal 2024 modestly higher than expected, but the council will likely use reserves next year to cover operating costs that voters did not approve through Truth in Taxation.

At a council meeting, Jason Christiansen, city manager, presented a financial overview tracing the city’s property tax rate history and said Kaysville remains “the third lowest tax rate of the 15 cities in Davis County, and we have been on the low end for a long time.” He told the council auditors provided an expedited estimate showing the city’s fund balance rose from about $7.7 million at the end of fiscal 2024 to roughly $7.8 million as of June 30, 2024, rather than falling as earlier budget estimates had suggested.

Why it matters: the city had budgeted to apply nearly $1.8 million in new, ongoing operating costs through a Truth in Taxation request this year; because that measure did not pass, those costs are now projected to come from fund balance. City staff told council members that, based on current…