Nephi City implemented modifications to its Fiscal Year 2024 budget to better match actual revenues and expenses. The amendments addressed changes in income and costs across several municipal departments and funds.
Revenues for interest earnings, building permits, sales, transient room taxes, and golf green fees were increased to match actual income. Contributions to The Hive were also increased to cover expenses. Additionally, revenues were added for the Local Building Authority, Community Reinvestment Area Funds, and Capital Projects Fund.
Fund balance funds were increased to cover costs for government programming and to ensure compliance with state law. The Natural Gas and Solid Waste fund balances and revenues were increased to match actual revenues received and to fund projects.
General government service costs increased due to higher demand for services in the Golf & Recreation departments and other departments. Expenses were added for Economic Development, Developer Bond Interest, and payments to the Community Reinvestment Fund.
Natural gas costs rose because of project expenses, increased gas costs, and new growth. Solid waste costs were higher, primarily due to the purchase of a new garbage collection truck.
Project expenses for the Police and Golf Course were higher than originally budgeted. Specifically, the Golf Course maintenance building expenses exceeded the budget. While Police grant expenses were higher, those expenses will be reimbursed in future periods.
