Price City adopts $1.5 million midyear budget revision, council approves resolution

Price City officials adopted a midyear budget revision on March 11 that adjusts the city's fiscal-year 2025–26 spending plan to account for new grants, project-cost updates and utility needs.

City finance staff (Lisa) presented the revision at a public hearing before the council. She said the general fund increase was $110,242, driven largely by about $135,000 in grants; the city also reallocated funds among capital projects, increased the pickleball project by $50,000 and adjusted water and electric funds to reflect changing project estimates. Overall, staff reported the city's budget increased by $1,507,520.

Lisa told the council that some adjustments resulted from timing differences — for example, revenue collected in the prior year that was billed this year — and that the city had raised certain rates the prior May, which affected revenue projections. She said planned water-treatment project prefunding and reservoir work drove some of the water fund adjustments, and that the electric fund reflected an uncertain but potentially large expense related to downtown substation backup power.

After the presentation and public questions — including resident inquiries about the Woodhill project and county coordination on roads — the council voted to adopt the revised budget by approving Resolution 2026-4. A motion to close the public hearing preceded the vote.

The city will use the approved adjustments to update fund balances and guide spending for the rest of the fiscal year; council members asked staff follow-up questions and indicated they would continue budget review at future meetings.