2008-09 Final Budget - City of St. George

Fund Balance
One important measure of the financial well-being of a community is its fund
balance. Utah State law allows cities to accumulate fund balances in the General
Fund, but those balances cannot exceed 18% of the anticipated total General Fund
revenues estimated for the next fiscal year. The general rule is that cities with a
10% fund balance are considered financially healthy. The City of St. George should
have approximately 11% in this fund. It is important to maintain at least this level
of fund balance.
Summary of the 2008-2009 Recommended Budget
This budget is balanced and does not propose any increase in the tax rate. Fee
increases are recommended for some Leisure Services programs, a 10% increase in
water rates, and a 3%-4% increase in green fees at all City golf courses. The
General Fund amount is $45,229,378.
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This budget is the 32 one I have submitted for consideration by the Mayor and
City Council. This year is very difficult given the state of the economy and this
budget attempts to account for the uncertain conditions we are facing. Residential
growth has slowed dramatically from the past few years; commercial projects have
slowed as well. This budget continues a new concept which will be expanded upon
in future years which tries to identify a five year budget plan, as well as the annual
budget required by State law.
I want to express my gratitude to Deanna Brklacich for her tireless efforts to put
this budget together and to those department heads who tried to cut their budgets
as requested to bring expenditures in line with lower expected revenues.
Sincerely,
Gary S. Esplin
City Manager
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