Santaquin City reports midyear FY2024-25 budget health; council to consider amendment to finish ballfield lights

Santaquin City staff presented a midyear fiscal-year 2024–25 budget update at a Jan. 21 council work session, reporting that general-fund revenues were roughly 56% of the annual projection as of Dec. 31 while expenditures were about 44.76%.

Shannon, a city staff member, told the council that the city received a large portion of its property-tax receipts in December and that an additional payment of about $265,000 posted in January. She said interest earnings were “trending above normal,” and that those combined factors are behind revenues running somewhat ahead of expenditures at midyear.

Why it matters: the midyear position affects several capital projects and a budget amendment the council will consider at its regular meeting. Staff flagged a planned $8 million sewer project coming to council for a guaranteed-maximum-price decision in the next few months, and said finishing carryover projects will draw on savings and affect future interest earnings.

Key figures and near-term items - General fund: revenues ~56% (as of Dec. 31); expenditures ~44.76%. - Enterprise funds: water and sewer…