Lindon City Council adopts FY2026 budget, sets sewer-fund loan rate and 10-year term

The Lindon City Council on June 16 adopted the city's final fiscal year 2026 budget, approved amendments to the 2025 budget and passed a resolution setting terms for a prior loan from the general fund to the sewer enterprise fund.

The council voted to approve Ordinance 2025-7-O (FY2026 budget adoption) and Resolution 2025-14-R (enterprise fund loan terms) by unanimous voice vote. The loan resolution sets a 4.5% interest rate and a 10-year repayment term to comply with a state requirement that interfund loans use at least the public treasurer's investment fund rate and include a term.

City staff framed the vote as the final budget step before July 1. "This is our final look at the budget to approve it before July 1," a finance staff member said during the hearing. Earlier, the city administrator noted the state requirement for a public hearing on transfers from enterprise funds to the general fund and described the hearing as an opportunity for public comment.

Why it matters: the adopted budget funds operations, personnel step and range adjustments, capital projects and planned debt service. Total proposed revenues for FY2026 were presented at about $36.9 million, with total expenditures shown at roughly $41 million; the difference will be…