General Information

Government Type

Municipality

Entity

Logan

Public Body

Municipal Council

Notice Information

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Notice Title

Announcement of Budget Transfers and Administrative Fees of Money from an Enterprise Fund to another Fund for Fiscal Year 2025

Notice Tags

Budgeting

Notice Type(s)

Notice

Event Start Date & Time

June 19, 2024 11:30 AM

Description/Agenda

Announcement of Budget Adoption That Includes or is Based on a Transfer of Money From an Enterprise Fund to Another Fund of the City of Logan For Fiscal Year 2025 In accordance with Utah State Law and Logan City budgeting practices, Logan City announces the adoption of a budget that includes a transfer of money from an enterprise fund to another fund of the City of Logan. 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. 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 2025 transfers and administrative fees: Please feel free to contact the Logan City Finance Department with questions. **See attached notice to view table of transfers and administrative fees.

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.

Meeting Information

Meeting Location

290 North 100 West
Logan, UT 84321
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Contact Name

Teresa Harris

Contact Email

teresa.harris@loganutah.org

Contact Phone

(435)716-9002

Notice Posting Details

Notice Posted On

June 19, 2024 11:09 AM

Notice Last Edited On

June 19, 2024 11:09 AM

Audio File Address

Audio File Location

https://www.youtube.com/channel/UCFLPAOK5eawKS_RDBU0stRQ

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