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ULCT board approves FY2026 first‑quarter financial report and check register; LAA funding shortfall noted
Summary
The ULCT board approved the FY2026 Q1 financial report and check register. Staff reported 67.5% of total revenue collected and explained a $270,000 draw on unrestricted reserves to meet the League’s reserve policy. Staff also outlined a $500,000 cut to the LAA state funding stream and use of restricted reserves to carry current programs.
The Utah League of Cities and Towns board approved the FY2026 first‑quarter financial report and check register following a staff presentation that summarized revenue and expense activity through the first quarter.
Staff reported that ULCT had collected about 67.5% of total budgeted revenue and roughly 84.1% of general revenue; membership dues account for about 70% of general revenue and were nearly fully collected by the end of the quarter. Sponsor receipts and registration revenue timing reflect private sponsors’ calendar‑year cycles, which the League spreads across its fiscal year for accounting.
The board heard that the FY2026 budget includes a planned draw of $270,000 from unrestricted reserves to meet the League’s reserve policy target (20–50% of prior year budget) and to fund one‑time projects such as publication updates and training materials. Personnel costs represent roughly 42% of the annual budget; events and publications were also explained in the packet.
Staff flagged a $500,000 reduction in the fuller state‑funded Local Assistance Agreement (LAA) program enacted in the 2025 legislative session and said the League will use two years of restricted reserves to continue the LAA technical assistance program in the current fiscal year while pursuing restoration of funds in the 2026 legislature. The board approved the financial report and check register by voice vote.
