One of the things I do for fun to take my mind off of work is build and launch rockets. This past weekend I went down to Green River Utah and attended a Club Rocket Lunch. The picture below is one of my rockets named the “Intimidator”, it is all fiberglass construction, is 10 tall and weighs 30 pounds. My rocket was successfully launched and reached an altitude of 6,132. All systems worked including the drogue parachute (18 inch) opening at 6,132 feet and the main parachute (15 foot) opening at 1,000 feet.
Yesterday I met with the Mercer Group, they assist the City with administering the employee benefits of the City. We reviewed medical, dental, life and disability benefits. Mercer in an industry expert and they provide valuable insight, we reviewed the strategy going forward. I also had a meeting with Standard & Poor’s to do a periodic global surveillance review of the Energy department. The reason for the review is due to outstanding bonds that were issued to construct the Energy Building. Travis Ball did an excellent job answering their questions and providing them the information they needed. The Energy Department is very well run and in excellent financial position. Today I am meeting with the Council Staff to discuss the budget and make sure we are on track for the remaining steps in the budget process.
Did you know Mayor
Kaufusi submitted the proposed budget to the City Council on May 3rd?
The Council will decide at the June 21st Council Meeting whether to
adopt the budget or to initiate the “truth in taxation” process in the event
they want to consider raising property taxes to increase funding for City
operations. Since its budget season, let’s go through some of the related terms
you may be hearing over the next few weeks:
- What is a fiscal year? A
fiscal year is the 12-month period that the City’s budget is approved for.
Like most cities in Utah, Provo City has a fiscal year that begins on July
1st and ends on June 30th. You’ll often see “fiscal
year” abbreviated as “FY.” The Council is currently considering the Fiscal
Year 2022-2023 budget (or FY2023 budget).
- What is the tentative budget? The
tentative budget is the budget the Mayor submitted to the Council on May 3rd.
This is basically a first draft of the budget that the Council then
reviews and makes changes to, depending on their priorities.
- What is the adopted budget?
The adopted budget is the final version of the budget that the Council
adopts at the second Council meeting in June unless they decide to
consider property tax increase. If they consider a property tax increase,
the adopted budget won’t be approved until August. If that happens, they
can either use the previous year’s adopted budget or the new year’s
tentative budget as a placeholder until the final budget is adopted.
- What does “FTE” stand for?
“FTE” stands for “Full-Time Equivalent.” One full-time employee is 1 FTE.
A part-time employee’s FTE count is based on the number of hours they work
in a week. For example, a part-time employee who only works 20 hours per
week is a 0.5 FTE.
- What are the budget highlights
in the tentative FY2023 budget? Check out page 28 of the FY2023 Tentative Budget to
get an idea of some of the new features included in the budget.
- What are the Council Budget Priorities?
The Council’s Budget Priorities for FY2023 are described on page 8 of the FY2023 Tentative Budget.
Now let’s go through some
fun facts about the budget. Here are some questions for you to think about. The
answers are provided at the bottom of the blog post.
- How many FTE’s are included in the FY2023 tentative
budget?
- What percentage of the budget
does payroll account for in the general fund? For the whole budget (all
funds)?
- Where can I find the budget?
- Which department has the
highest Budget?
- What is the proposed total City Budget for FY2023?
UPCOMING CITY EVENTS
NEWS YOU CAN USE
- The Covey Center was voted #1 in the Best Live Music Venue Category, #2 in the Best Family Entertainment Category, and #3 in the Best Live Theater Category for the Daily Herald's Best of Utah Valley 2022!
- Miss Provo is heading a shoe drive here in Provo for the charity "Soles4Souls" and is taking donations of shoes and clothing from now until June 1st, with drop-off locations at Provo Beach Resort, Peaks Ice Arena, Covey Center, Provo Library, Provo Rec Center, Provo City Center 311, and Fresh Market.
- Most Utahns believe a recession is coming according to a recent poll. While the latest federal report pegged average national inflation at 8.3%, the Mountain West states, which include Utah, continued to have the highest regional inflation in the country with the average prices of goods and services rising 9.8% in April, down from March’s 10.4% uptick. Grocery costs were up 10.8% over a year ago, gasoline costs on average were up 43.6% over April 2021, and costs related to shelter rose 5.1% in the last year.
- Archaeologists uncover tomb of ancient Egyptian dignitary who handled secret documents for the pharaoh roughly 4,300 years ago.
- Scientists successfully synthesize graphyne for the first time; similar to graphene—a single layer of carbon atoms—the material had been hypothesized since 1960.
YOUR VOICE
Have any exciting news? Birthdays, babies, weddings, fur-babies, graduations? Share about it in the section on the right --> and upload pics below!
TUESDAY TIP
8 questions all leaders should ask their employees
Effective leaders create a sense of psychological safety for their reports and find ways to show appreciation for them as they offer opportunities for growth, writes Alaina Love. Love offers questions leaders can ask team members to assess their success in these areas, including "Do you feel heard?" and "Do you feel respected?"
ANSWERS
- 940.3 FTEs;
- 68% of General Fund; 22% of all funds;
- Provo.org > Departments > Finance > Financial Reports > Budget Reports > 2023 Tentative City Budget;
- Energy;
- $384,034,697 (expenses only)
FUN STUFF
For anyone who missed the Provo Airport open house, you can watch a virtual reality tour here:
Hope you have a great day.
John
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