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Provo proposes 12.5% utility transfer to general fund; public hearing set for June 17
Summary
Provo staff proposed transferring 12.5% of utility revenues to the general fund in the FY2026 tentative budget, and a public hearing is scheduled for June 17.
Provo staff told the City Council the tentative FY2026 budget includes a proposal to transfer 12.5% of utility enterprise revenues to the general fund as a dividend to city taxpayers.
Finance and budget staff framed the transfers as analogous to dividends paid to investors by investor-owned utilities, noting that the city’s ratepayers are the ultimate owners of municipal utilities. Dan Follett, who presented the notice to ratepayers, said the transfers support…
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