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Council adopts FY 2024–25 budget amendment; transfers include REC sale revenue to Power Fund
Summary
The council adopted the third amendment to the FY 2024–25 budget, approving reallocations including $383,657 to the Power Fund from renewable energy credit sales and several departmental adjustments; vote was recorded 5–0.
The Murray City Council adopted an ordinance amending the FY 2024–25 budget as the third of four scheduled amendments. Brenda Moore presented the changes, which include several targeted adjustments and the allocation of revenue from renewable energy credits (RECs) to the Power Fund.
Moore said the Power Fund will receive $383,657 from the sale of RECs associated with landfill-gas power purchases. "Because the state of Utah has no requirement that we do green energy, these credits aren't worth anything to us," Moore said, adding that selling them to other markets helps keep local rates lower. The ordinance also increases the general fund draw from reserves by $197,133 (including rent for an MBA bond), provides $64,000 to cover increased animal-shelter costs in the police budget, and adjusts other small budgets and grants (including a Department of Natural Resources $10,000 grant for water-use planning and a $17,000 grant to Arts & History).
Council member Turner moved to adopt the ordinance; Council member Cotter seconded. The council adopted the amendment on a 5–0 vote.
Moore also clarified several memo and fund-noting items during the presentation. The ordinance as adopted will be reflected in the city's financial records and implemented by respective departments.
