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Santaquin posts first-quarter financial report; capital projects and enterprise funds highlighted
Summary
Finance staff presented the first-quarter budget report covering July 1–Sept. 30, 2025. General fund revenues and expenditures were near expected first-quarter levels; capital projects including Main Street and the new library continue, and a $13 million sewer treatment project is in early stages.
Finance Director Shannon presented the city's first-quarter financial report for July 1–Sept. 30, 2025, as required by state law.
Shannon said general fund total revenues were about 21% of the annual budget at the end of the quarter and total expenditures about 22%, which staff described as normal because property-tax receipts typically arrive in the second quarter. "The expenditures in the first quarter or the revenues in the first quarter are usually pretty low only because we receive our property taxes usually in the second quarter," Shannon said.
Capital-fund highlights included ongoing library construction; payoff of a four-year equipment lease; and recent purchases of a police truck and a fire-administration truck. The Main Street project crossed fiscal years and will require a budget amendment, staff said.
Enterprise funds showed different timing effects: water revenues were higher than projected (about 32%) because of development payments and improved hydrant billing; sewer expenditures were low because the $13 million sewer treatment plant project is just starting; pressurized irrigation receipts were higher for the seasonal quarter.
Shannon told the council staff would monitor building permits and sales tax receipts before committing additional spending and would propose amendments if needed.
Evidence: the quarter report presentation and council Q&A during the meeting.
