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Clearfield staff report early FY2026 numbers: higher summer water use, investment gains and an energy-tax shortfall
Summary
City finance staff reported first-quarter FY2026 figures showing a 10% rise in summer water use, $2.6 million in investment earnings across funds, an $830,000 first payment on a $9.5 million water loan and an early-year energy-tax shortfall of roughly $400,000; councilors asked for follow-up on a $125,000 contracted-services increase.
City finance staff presented an early first-quarter update for fiscal 2026 (July–September), reporting mixed revenue signals and some one-time accounting influences that require monitoring.
Rich, a city finance staff member who presented the report, said summer water consumption was about 10% higher than last year — commercial usage up 14%, multifamily up 12% and residential up 8% — and credited both recent growth and improved metering for part of the change. "We are 10% higher than last year's summer, so May through September," Rich said.
On investment income, Rich said the city recorded about $2.6 million in investment earnings this year across all funds compared with a $500,000 budgeted expectation; he attributed the difference in part to higher…
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