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Provo Stormwater Service District tentatively adopts $6.0 million FY2026 budget; finance staff to correct accounting entry
Summary
The Provo Stormwater Service District governing board tentatively adopted a $6,000,209.04 budget for FY2026. Councilors raised questions about an appearing negative ending fund balance; staff said an accounting error will be corrected and projected the FY2026 ending balance to be positive.
The Provo Stormwater Service District governing board on Monday tentatively adopted a proposed FY2026 budget showing a tentative total of about $6,000,209.04 and set two public hearings for June 3 and June 17.
Administrative Services Director John Borgett presented the tentative budget and explained where to find the document on the city website. Councilors asked whether the stormwater enterprise showed a negative ending fund balance; staff said a line-item error was responsible for the appearance of a negative balance and that a corrected calculation projects a positive ending balance of roughly $300,000.
Councilor Rachel Whipple asked whether the negative fund balance was a long-term problem. Borgett replied that temporary negative balances can occur in enterprise funds during years of large capital spending and are not necessarily alarming. Finance staff member (identified in the meeting as Jimmy) said he would coordinate with finance to correct the published figures and that carryover and capital adjustments explained most of the variance.
Board action: The motion to tentatively adopt the proposed stormwater budget passed by a vote of 5–1 with Councilor Becky Bogdan voting no and Councilor Christiansen excused. Staff said the item will return for further council review at the scheduled public hearings.
Why it matters: Stormwater capital spending was described as “lumpy,” with capital projects driving higher expenditures in some years. The correction of the apparent negative balance will be provided to the council before final adoption so the council can review the adjusted ending fund balance and capital carryovers.
