Announcement of a Public Hearing regarding the Transfer of Money from an Enterprise Fund to another Fund for Fiscal Year 2024
Notice Tags
Budgeting
Notice Type(s)
Notice,
Meeting,
Hearing
Event Start Date & Time
June 20, 2023 05:30 PM
Description/Agenda
PUBLIC HEARING
Logan Budget Transfers and Administrative Fees Fiscal Year 2024
In accordance with Utah State Law and Logan City budgeting practices, Logan City will hold a public hearing on June 20, 2023 at 5:30 pm in the Logan City Council Chambers located at 290 North 100 West, Logan Utah, to discuss proposed transfers from and administrative fees charged to enterprise funds. Anyone desiring to address the Logan Municipal Council on this issue is invited to this public hearing.
A transfer is the movement of cash or other resources from one fund to another. Logan City has incorporated transfers into established enterprise fund utility rates as a General Fund financing mechanism for many years. If budgeted and planned for correctly, transfers from enterprise funds can help to defray the cost of services such as public safety, public works, parks and recreation and general governmental services, and consequently, keep property taxes low. But for transfers, Logan City would either need to raise property taxes significantly or cut services significantly. Where private sector utility companies are in business to provide a return on investment to its shareholders, Logan City's shareholders, its taxpayers and citizens, receive this return on investment as a transfer to the General Fund.
The transfer from the Environmental Health Fund to the 911 Fund is composed of the garbage can fees used to fund the 911 system and radio equipment. The transfer is simply the legal justification used to obtain the funding needed for the 911 system.
Administrative fees are not the same as transfers. While transfers are a movement of cash or resources without compensation, administrative fees are charges for centralized services provided by the general fund to the other funds of the City. Such services include but are not limited to utility billing, accounting, payroll, legal, human resources, shops and garage, and facility management. Administrative fees are allocated by the finance department in a reasonable and rational manner.
The following are the proposed Fiscal Year 2024 transfers and administrative fees: See attachment for table of fees.
Please feel free to contact the Logan City Finance Department with questions.
Notice of Special Accommodations (ADA)
Individuals needing special accommodations should notify Teresa Harris, 435-716-9002, at least two working days prior to the meeting. Hearing enhancement devices are available on request.
Notice of Electronic or Telephone Participation
A council member may join a meeting electronically upon proper notice of the meeting and 24-hour notice to councilmembers. A council member participating electronically will be connected to the meeting by telephone.