Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budget topic
No spam. Unsubscribe anytime.
Price Council adopts final 2025–26 budget, keeps proposed $3.3M electric-to-general transfer
Summary
The council adopted the city's fiscal 2025–26 budget and approved a year-end budget revision; staff described a proposed $3.3 million electric fund transfer to the general fund and explained how the transfer is allocated between administrative reimbursements and a subsidy to general operations.
Price City Council approved the city’s final fiscal 2025–26 budget and a separate year‑end budget revision after public hearings. The council adopted Resolution Number 2025‑18 (final budget for the fiscal year ending June 30, 2026) and Resolution Number 2025‑16 (amending the revised budget for fiscal 2024–25) by unanimous voice votes.
During a separate enterprise fund transfer public hearing, city staff explained that the electric fund’s proposed transfer to the general fund for the coming year is $3,300,000, representing about 30% of the electric fund’s budgeted expenditures ($11,023,800). Staff said the transfer figure in the adopted budget remained unchanged from the tentative budget and described two components of the transfer: (1) reimbursements for centralized administrative services the general fund provides to the electric utility (estimated at roughly $393,000) and (2) a subsidy transfer (about $2,907,487) that helps pay for general government services such as police, fire, streets, parks and the pool.
Staff noted the transfer figure is an estimate and could be adjusted if year‑end revenues vary. Lisa (city staff) described how the administrative portion was allocated across departments (finance, human resources, building maintenance, police and code enforcement, public works and fleet shop) based on hours, FTEs or square footage. Staff said the subsidy transfer supports services that cannot be fully funded by user fees or property tax revenues alone and helps keep property taxes and service levels stable.
Council also considered a year‑end budget revision for fiscal 2024–25. City staff reported the overall budget decreased by about $3.3 million compared with the prior estimate because several capital projects were deferred or carried forward; specific reductions included lower expenditures tied to delayed lease purchases and zap tax projects, and decreased transfers to other funds. Staff identified increases in water and sewer contracts and equipment warranties and listed changes tied to timing of vehicle and equipment purchases.
The council opened and closed the required hearings for the enterprise fund transfer and the tentative/final budgets; no public comments were offered on the enterprise transfer hearing. The council passed the final budget (Resolution 2025‑18) and the year‑end revision (Resolution 2025‑16) on unanimous voice votes and adopted the certified tax rate for 2025 (Resolution 2025‑17) as presented.
Council members and staff emphasized that the electric‑to‑general transfer is an estimate for planning purposes and that the final transferred amount may change after the fiscal year closes if revenues differ from projections.
