Since a budget is essentially a financial plan, it is sometimes necessary to modify the budget to match actual expenses and revenues. The table below shows the modifications made to the budget for Fiscal Year 2023. New funds for the Hive and the Fleet were added to the budget.
Revenues for the GIS/Infrastructure Inspector and City Planner were increased.
Recreation Program Fees were greater than budgeted.
PAR Tax budget revenue was increased to match actual collections.
Some utility revenue accounts were increased due to higher development fees.
Fund Balance accounts were increased to account for budget errors, use of carryover balances, transfer to the Capital Projects Fund, and unexpected expenses due to inflation or other reasons.
Various General Fund Departments had expenses for capital purchases, higher than expected expenses due to inflation, the addition of the City Planner, a budget error in the Police department, or increased demand for services.
PAR Tax contribution to Arts was increased to match the grant.
Many projects in the Capital Projects Fund were adjusted to reflect actual project costs. Major adjustment for Recreation Improvements to account for bond payment to Juab School District for construction costs related to The HIVE.
Some utility accounts were increased due to inflationary pressures, additional employee positions, project-related expenses, and development costs.