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Council approves FY25 budget revision and adopts fiscal year 2026 budget, moves $750,000 to capital projects
Summary
Spanish Fork City adopted a second revision to the FY25 budget that transfers $750,000 from the general fund into the capital projects fund and approved the FY26 budget. Staff said general‑fund revenues trended above budget and expenses below, enabling the transfer while still increasing the fund balance.
The Spanish Fork City Council approved a second revision of the fiscal year 2025 budget and then adopted the fiscal year 2026 city budget during Monday’s meeting.
Jordan Hales, the city’s finance director, told the council the FY25 revision increases general‑fund revenues by about $657,000 and expenses by about $386,000 and proposes a $750,000 transfer from the general fund into the capital projects fund. “We feel confident that we can transfer 750,000 out, and still have the fund and higher,” Jordan said during the meeting when describing revenue and expense trends.
Staff described the capital projects fund increase in its land‑acquisition line from roughly $650,000 to $2,000,000 because several properties the city had targeted became available sooner than expected and the city moved to purchase them. Jordan said the capital projects fund is expected to still show an increase of about $220,000 after the transfer.
Other enterprise fund changes included a budget increase at the airport to cover event costs and air‑traffic planning and a gun club fund revision where expenses rose about $90,000 and revenues increased roughly $98,000 after the club added a sporting‑clays operation.
After public notice and a public hearing on the tentative FY26 budget two weeks earlier, council members voted to adopt the fiscal year 2026 budget. Jordan noted the certified tax rate for the city portion of property tax was lower than last year, and staff reiterated that property tax impacts depend on property valuations and other taxing entities.
Council also approved a resolution approving the FY25 RDA revision and adopted the FY26 RDA and LBA budgets in separate votes. Staff said the North Industrial project area (airport area) had an approximately $195,000 increase in capital spending for piping and ditch work and that Sierra Bonita (Young Living expansion area) produced more incremental property tax revenue than expected; the Young Living increment was approximately $260,114 and is distributed per previous agreements to Young Living and NEBO School District as a pass‑through.
