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South Weber finance director reports $2.73M cash on hand as council reviews FY2027 draft budget
Summary
Finance Director Brett Baltazar told the council the city increased cash on hand to $2,731,687 and presented a FY2027 draft budget with $12,549,500 in projected revenue and conservative assumptions for sales and property tax; departments will refine requests before the final budget.
Finance Director Brett Baltazar told the council the city "began investing with Zions and between last year and this year the city has increased cash on hand to $2,731,687," framing the budget conversation around that improved liquidity. He reviewed unrestricted and restricted fund balances and an FY2025 debt position that included three bonds with an ending balance of $11,088,949.
Brett Baltazar presented the FY2027 draft budget overview with total revenue projected at $12,549,500 and a conservative set of assumptions: property-tax revenue growth only, sales tax held constant, and other revenues forecast on current trends. He gave line-item figures including Sales & Use Taxes of $1,787,000 and Property Taxes of $1,392,500 and noted the Recreation Fund had been supplemented by the General Fund because it was not yet self-sufficient.
