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Price presenter outlines $55.7M tentative budget showing multimillion-dollar general-fund gap
Summary
A city staff presenter told the Price City Council the tentative $55.7 million budget compiles requests and current revenue estimates and is not balanced; initial transfers and subsidies would leave the general fund roughly $4.2 million out of balance, requiring prioritization and further work to balance.
The staff presenter said the city’s tentative budget totals $55,700,000 and is an initial compilation of department requests and current revenue estimates, not a balanced final plan. The presenter warned that making two likely transfers — a subsidy for the pool and additional support for the drug-task-force — would leave the general fund about $4,200,000 out of balance.
Why it matters: The deficit means council members will have to prioritize which requests to fund, consider additional transfers or revenue adjustments, and approve follow-up steps ahead of the final budget adoption.
Details: The presenter said the current requests and revenue projections total roughly $55.7 million. A planned transfer from the electric fund is budgeted at $3,300,000; if that transfer remains unchanged, the presenter said the general fund would still be out of balance by about $867,000 after the initially planned transfers. The presenter also noted planned capital and O&M items, including tree and fencing work for the Olsen Reservoir, a $10,000 parks roof repair, and $59,000 in multi-year IT renewals that contribute to overall increases.
Staff discussed personnel costs and retirement changes that will come before council. The presenter said annual anniversary wage adjustments and promotions are budgeted across funds; S3 noted two resolutions will be before the council in two weeks to authorize retirement/contribution changes that affect public-safety and public-employee rates.
Next steps: The presenter said the tentative budget packet is a starting point and that staff will work with department heads and the council to refine priorities and identify ways to close the gap before final adoption. No final actions were taken during the meeting.
Representative quotes: "The budget's not balanced. It's just a compilation of all the requests that have been sent in, all of the revenue estimates to date," the presenter said. "By the time we make those two transfers ... the general fund would be out of balance $4,200,000."
