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Santaquin receives updated financial sustainability model showing revenues lagging rising costs
Summary
City staff presented a refreshed financial sustainability model from Zions Public Finance on July 15 showing revenues have grown but expenditures have risen faster; staff urged the council to consider revenue options and noted a planned public meeting on August 7 to discuss potential property tax measures.
Santaquin — City staff presented a financial sustainability update from Zions Public Finance at the July 15 work session, showing that the city’s revenues have increased but that expenditures have grown at a faster rate, prompting staff to urge council consideration of revenue options to maintain services.
A staff member leading the presentation told the council the Zions report used three scenarios (no growth, anticipated growth and residential-only growth) and drew from three full fiscal years of data. The staff member said the city’s revenues grew roughly 7% over the period reviewed while…
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