Office of the Clerk/Auditor Memo

Division of Financial Services

Date: March 26, 2021

To: Utah County Board of Commissioners
From: Jeremy Walker, Director of Financial Services
Re: Contemplation of Budget Amendment and Property Tax Revenue Decrease

Introduction
The Division of Financial Services stands ready to help you in your financial leadership role. Our
team’s combined 50+ years of local government financial experience is available to supplement
your own experience and team’s resources. We look forward to working with you to achieve
your goal of reducing the property tax rate in conjunction with a budget amendment that keeps
the County in compliance with laws and reporting standards.

Multi-year Forecasting Model

Since last year, our budget team has been working on a multi-year budget model to facilitate
long-term planning efforts. To assist the commission in its recent decision to amend the 2021
budget, we have accelerated our efforts to complete a beta version of the multi-year budget
model. This model will allow you to see the effects of potential changes to general fund revenues
and expenses at a high level. If you would like, I could provide a demonstration of this model at
your administrative meeting on March 29th. Your input on our assumptions and projections
would be valuable and appreciated.

Budgetary Goals
In addition to your goal of reducing the tax rate, achieving the following goals will allow you to
win support in the short term and maintain that support from the public and County department
heads into the future.

• Provide high-quality services to the public and internal departments

• Provide funding for projects identified in the capital improvement plan
• Remain compliant with laws, standards, and contractual commitments
• Avoid the need for a significant tax increase
• Avoid using one-time money to fund ongoing expenses
• Avoid depleting the county’s rainy-day fund
• Avoid a decline in bond rating
• Avoid high risk use of federal funding to offset tax cut

Conclusion
The Division of Financial Services is committed to provide accurate financial information and
analysis in support of your financial leadership of the County. We look forward to producing a
budget amendment that accomplishes the budgetary goals listed above. Thank you for your
service to our community and the integrity you demonstrate in executing the duties of your
office.