General Information

Government Type

Municipality

Entity

Provo

Public Body

Provo Municipal Council

Notice Information

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Notice Title

Public Hearing Regarding Transfers from the Utility Enterprise Funds to Other Funds

Notice Tags

Budgeting

Notice Type(s)

Notice, Hearing

Event Start Date & Time

June 15, 2021 05:30 PM

Event End Date & Time

June 15, 2021 09:00 PM

Description/Agenda

NOTICE TO PROVO CITY UTILITY CUSTOMERS State law requires that Provo City provide an annual disclosure of funds transferred from the utility enterprise funds to other funds. The following paragraphs explain the various transfers from enterprise funds to other funds in the proposed 2022 budget. Historically, Provo has budgeted for the transfer of 10% of utility fund revenues to the General Fund as a 'dividend' to Provo taxpayers as the result of the taxpayers' investment in the City's utility infrastructure. These funds are used each year to help cover the costs of important City services like police, fire, parks and recreation, and other city functions. The utility transfer, together with franchise fees, helps keep property taxes in Provo low. If City utility services were provided by private utility owners, these dividends would instead be paid to investor-owners. Because Provo taxpayers are the investor-owners, these dividends are used to offset what otherwise would be a significant increase in property tax rates. The 10% transfer totals $11,907,231 in the proposed 2022 budget. Since 2013, a 1% transfer from utility fund revenues has been transferred to the General Fund to be used to enhance available funding for road maintenance. The 2022 budget proposes that $1,190,723 be transferred to the General Fund. It is more cost effective and operationally efficient for certain administrative functions such as legal, human resources, information technology and finance to be administered on a city-wide basis. Transfers from the funds receiving the benefit of these administrative services to the General Fund totaling $1,258,504 have been included in the proposed 2022 budget. A resolution was passed on November 15, 2011, allowing for an Energy rate increase for Telecom Debt Service fee. These fees provide funding for Telecom Debt Service payments. The transfer to the Telecom Debt Service fund totals $3,250,000 in the proposed 2022 budget. Provo City is in the process of implementing a city-wide system known as Provo 360. The system will benefit residents, customers and all departments of the City. The proposed 2022 budget includes transfers of $894,190 to the Provo 360 Fund. A transfer of $583,820 from the Wastewater Fund to the Water Fund has been included in the 2022 proposed budget. The transfer is a reimbursement for management services provided to the Wastewater Fund by the Water Fund. This table outlines the transfers described above: A public hearing regarding transfers from the enterprise funds to other funds for the fiscal year beginning July 1, 2021 and ending June 30, 2022 will be held during the Council Meeting on Tuesday, June 15, 2021. The meeting starts at 5:30 p.m. and will be held in the Council Chambers of the Provo City Center Building, 351 W Center Street, Provo, Utah. The meeting will also be available to the public for live broadcast and on-demand viewing at: youtube.com/provocitycouncil. Those who would like to participate in the meeting virtually may do so via Zoom. To join the Zoom meeting, visit zoom.us/join and enter Meeting ID 856 1978 6985 and Passcode 581042. To listen or comment via phone, dial 346-248-7799, enter Meeting ID 856 1978 6985 and press #. Press # again for participant ID. Once connected, press *9 to indicate that you would like to comment. Thank you for your support and involvement as a customer of Provo City's utilities.

Notice of Special Accommodations (ADA)

Notice of Compliance with the Americans with Disabilities Act (ADA) In compliance with the ADA, individuals needing special accommodations (including auxiliary communicative aides and services) during this meeting are invited to notify the Provo Council Office at 351 W. Center, Provo, Utah 84601, phone: (801) 852-6120 or email evanderwerken@provo.org at least three working days prior to the meeting. The meeting room in Provo City Center is fully accessible via the south parking garage access to the elevator. Council meetings are broadcast live and available for on demand viewing at youtube.com/user/ProvoCityCouncil.

Notice of Electronic or Telephone Participation

Notice of Telephonic Communications One or more Council members may participate by telephone or Internet communication in this meeting. Telephone or Internet communications will be amplified as needed so all Council members and others attending the meeting will be able to hear the person(s) participating electronically as well as those participating in person. The meeting will be conducted using the same procedures applicable to regular Municipal Council meetings.

Other Information

The meeting will also be available to the public for live broadcast and on-demand viewing at: youtube.com/provocitycouncil. Those who would like to participate in the meeting virtually may do so via Zoom. To join the Zoom meeting, visit zoom.us/join and enter Meeting ID 856 1978 6985 and Passcode 581042. To listen or comment via phone, dial 346-248-7799, enter Meeting ID 856 1978 6985 and press #. Press # again for participant ID. Once connected, press *9 to indicate that you would like to comment.

Meeting Information

Meeting Location

351 West Center Street
Provo, UT 84601
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Contact Name

Kevin Martins

Contact Email

kmartins@provo.gov

Contact Phone

801-852-6124

Notice Posting Details

Notice Posted On

June 07, 2021 05:57 PM

Notice Last Edited On

June 07, 2021 05:57 PM

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