HomeMy WebLinkAbout02 of 2025 - Budget FY 2026 - Local Building Authority of Salt Lake CityResolution No. 02 of 2025
Adopting the Final Budget for the Capital Projects Fund of
the Local Building Authority of Salt Lake City, Utah for Fiscal Year 2025-2026
PREAMBLE
WHEREAS, the Salt Lake City Council has created the Local Building Authority of Salt
Lake City, Utah (the “Building Authority”), and has appointed Mary Beth Thompson as the Budget
Officer of the Building Authority (the “Budget Officer”); and
WHEREAS, the Budget Officer previously filed with the Board of Directors (the “Board”)
of the Building Authority a tentative budget for the capital projects fund of the Building Authority
(the Building Authority not having any operational expenses and therefore no need for an operating
budget); and
WHEREAS, on May 6, 2025, the Board adopted the tentative budget by Resolution No. 1
of 2025; and
WHEREAS, the tentative budget adopted by the Board and all supporting schedules and
data was a public record in the office of the Secretary of the Building Authority, available for
public inspection at the Building Authority’s principal place of business during regular business
hours for a period of at least seven days before the adoption of the final budget and was published,
at least seven days before the adoption of the final budget in a public meeting, (a) on the Utah
Public Notice Website and (b) on the Building Authority’s official website or, if the Building
Authority does not maintain an official website, on the official website of Salt Lake City
Corporation; and
WHEREAS, following due notice of a public hearing given at least seven days before the
hearing (a) by publishing on the Utah Public Notice Website and by publishing on the Building
Authority’s official website or, if the Building Authority did not maintain an official website, on
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the official website of Salt Lake City Corporation, at its May 20, 2025 and June 3, 2025 meetings,
the Board held a public hearing on the budget tentatively adopted, at which hearing interested
persons in attendance or connected remotely were given an opportunity to be heard on the estimate
of revenues and expenditures or any item in the tentative budget; and
NOW, THEREFORE, be it resolved by the Board of Directors of the Local Building
Authority of Salt Lake City, Utah, as follows:
1. The purpose of this resolution is to adopt a final budget for the capital projects fund
of the Building Authority for fiscal year 2025-2026. All conditions precedent to the adoption of
the final budget have been accomplished.
2. The budget attached hereto and made a part of this resolution shall be, and the same
hereby is adopted as, the final budget for the capital projects fund of the Building Authority for the
remainder of the fiscal year 2025-2026, in accordance with the Fiscal Procedures for Special
Districts Act, Utah Code Title 17B, Chapter 1, Part 6.
3. The Budget Officer is hereby authorized and directed to certify and file a copy of
said final budget in the office of the Secretary of the Building Authority, whose office is located at
451 South State Street, Room 415, Salt Lake City, UT 84111, as required by Utah Code Section
17B-1-615. Said final budget shall be available to the public for inspection during regular business
hours.
4. The Budget Officer is hereby authorized and directed to certify and file a copy of
said final budget with the State Auditor as required by Utah Code Section 17B-1-614 within 30
days after its adoption.
5. This Resolution shall take effect immediately upon its approval and adoption.
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Passed by the Board of Directors of the Local Building Authority of Salt Lake City, Utah,
this 10th day of June, 2025.
Chris Wharton, LBA President
ATTEST:
Keith Reynolds, LBA Secretary
APPROVED AS TO FORM
Office of the City Attorney
Date:
By:
Mark Kittrell, City Attorney
June 13, 2025
Chris Wharton (Jun 17, 2025 11:19 MDT)
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TO:LBA Board Members
FROM: Council Staff
DATE:June 10, 2025
Item B1
MOTION SHEET
LOCAL BUILDING AUTHORITY of SALT LAKE CITY
https://tinyurl.com/SLCFY26
RE:MOTION SHEET – Resolution: Budget for the Capital Projects Fund of the Local Building Authority
for Fiscal Year 2025-26
MOTION 1 – ADOPT
I move that the Board approve a resolution adopting the Final Budget for Fiscal Year 2025-26 of the Capital
Projects Fund of the Local Building Authority.
MOTION 2 – NOT ADOPT
I move that the Board not approve the resolution
CITY COUNCIL OF SALT LAKE CITY
451 SOUTH STATE STREET, ROOM 304 SLCCOUNCIL.COM
TEL 801-535-7600 FAX 801-535-7651
FY2025 Full Time Changes from FY2026
Local Building Authority (FC66)
Revenue and Other Sources
FY2025 Beginning Balance 1,176,125
Change in Building Lease Revenue 0
Change in Transfers from General Fund (3,600.00)
Change in Transfer from CIP Impact Fee
Appropriation of Cash 0
Total Revenues and Other Sources Budget (3,600.00) 1,172,525
Expenses and Other Uses
FY2025 Beginning Balance 1,176,125
Change in Debt Service (3,600.00)
Change in Project Costs 0
Total Expenditures and Other Uses Budget (3,600.00) 1,172,525
Budgeted revenues and other sources over
(under) expenditures and other uses - 0
LBA KEY CHANGES
ISSUE
*Adopted June 10, 2025* - LBA Resolution 02 of
2025 - Budget FY 2026 LBA
Final Audit Report 2025-06-17
Created:2025-06-13
By:DeeDee Robinson (deedee.robinson@slc.gov)
Status:Signed
Transaction ID:CBJCHBCAABAA8iyuiLu9W6zldwdPq2xv1ZGGJsB68VXE
"*Adopted June 10, 2025* - LBA Resolution 02 of 2025 - Budget
FY 2026 LBA" History
Document created by DeeDee Robinson (deedee.robinson@slc.gov)
2025-06-13 - 6:52:47 PM GMT
Document emailed to Mark Kittrell (mark.kittrell@slc.gov) for signature
2025-06-13 - 6:54:09 PM GMT
Email viewed by Mark Kittrell (mark.kittrell@slc.gov)
2025-06-13 - 7:19:48 PM GMT
Document e-signed by Mark Kittrell (mark.kittrell@slc.gov)
Signature Date: 2025-06-13 - 8:17:20 PM GMT - Time Source: server
Document emailed to Chris Wharton (chris.wharton@slc.gov) for signature
2025-06-13 - 8:17:22 PM GMT
Email viewed by Chris Wharton (chris.wharton@slc.gov)
2025-06-14 - 8:38:07 AM GMT
Document e-signed by Chris Wharton (chris.wharton@slc.gov)
Signature Date: 2025-06-17 - 5:19:18 PM GMT - Time Source: server
Document emailed to Keith Reynolds (Keith.Reynolds@slc.gov) for signature
2025-06-17 - 5:19:21 PM GMT
Email viewed by Keith Reynolds (Keith.Reynolds@slc.gov)
2025-06-17 - 5:26:14 PM GMT
Document e-signed by Keith Reynolds (Keith.Reynolds@slc.gov)
Signature Date: 2025-06-17 - 5:26:36 PM GMT - Time Source: server
Agreement completed.
2025-06-17 - 5:26:36 PM GMT