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Buffetown reviews amended FY2025, tentative FY2026 budgets and holds certified tax rate steady
Summary
Town staff presented an amended FY2025 budget and the tentative FY2026 budget, noting a settlement payment recorded as a non-operating expense, several grant rollovers into FY2026, recommended fund moves to PTIF to earn interest, and no change to the certified tax rate.
Town Manager Erin Nelson presented the Buffetown Council with an amended fiscal year 2025 budget and the tentative fiscal year 2026 budget at the council work session. Nelson told the council the largest single item in the amended budget is a settlement payment to "Utah Denebakea," recorded in the accounting system as a non-operating expense but funded from the town's general fund.
Nelson said the amended documents also reflect accrued sales taxes that were received after the fiscal-year close and that several grant items (including USDA and other grants) have been carried forward into FY2026 because funds were not drawn down this year. She recommended moving some appropriations into the Utah Public Treasurers' Investment Fund (PTIF) so the town can continue to accrue interest on reserved balances.
On line items, Nelson said legal fees were adjusted to $67,500 for FY2026 and that parks and playground capital projects remain funded, with approximately $131,000 being held for roads to build interest toward larger projects. She noted federal and state grants tied to capital projects (playground, cemetery and generator grants) and described transfers between capital and operating funds.
Council members asked clarifying questions about the airport fund and the town's capital improvements plan (CIB). Staff said the airport appears on the town's multi-year capital plan with a $250,000 need projected in 2029'30 and that the town is likely to pursue external grant funding or CIB assistance when the project year approaches. Nelson described creating separate enterprise accounting for the airport to track revenue and expenses cleanly.
Nelson said the town did not change its certified property tax rate from last year during the certification process and that there is currently no council action to alter the tax rate. "We didn't do any changes to the tax, and it's about 33 (thousand)," a council member noted during discussion. Nelson confirmed the tentative budget figures were entered into Polaris for state review and that the council would consider formal approval at a subsequent meeting.
Next steps: staff will correct minor printing/transposition errors discovered during the packet review, circulate the final tentative budget for the special meeting, and present the formal ordinance/resolution for adoption at the regular meeting as required by state procedures.
