NOTICE TO BOUNTIFUL CITY UTILITY CUSTOMERS
State law requires that the City provide an annual disclosure on amounts transferred from utility Enterprise Funds to the General Fund. Historically, Bountiful has budgeted for the transfer of 10% of Electric Metered Sales ($2,450,000) from the Light & Power Fund to the General Fund. This year, this transfer represents 8.5% of total budgeted expenditures in the Light & Power Fund.
Dollar Amount % of Expenditures
Transfer from the Power Fund to the General Fund $ 2,450,000 8.5%
These transferred funds are used each year to help cover the costs of important services like police, street maintenance and snow removal, fire and emergency medical services, parks, and similar City services. The utility transfer helps keep property taxes in Bountiful low. Viewed in another way, these transfers are a 'dividend' to Bountiful taxpayers as the result of the taxpayers' original investment in the City's power infrastructure. If City utility services were provided by private utility customers, these dividends would instead be paid to investor-owners; because Bountiful taxpayers are the investor-owners, these dividends are used to offset what otherwise would be a significant increase in property tax rates. The transfers also provide a means for reimbursement of the General Fund for services provided to non-property tax paying groups such as non-profit organizations, churches, and governmental entities.
A public hearing will be held on Tuesday, June 13, 2017 at 7:00 p.m. at City Hall located at 790 South 100 East, Bountiful. The public hearing will be to discuss the proposed transfer from the Power Fund to the General Fund. All interested parties are invited to attend.
Thank you for your support and involvement as a customer of Bountiful City's utilities.
Notice of Special Accommodations (ADA)
Persons who are disabled as defined by the Americans With Disabilities Act may request an accommodation by contacting the Bountiful City Manager at 298-6142. Notification at least 24 hours prior to the meeting would be appreciated.