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TO: |
Board of Trustees |
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THROUGH: |
Mary DeLoretto, Interim Executive Director |
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FROM: |
William Greene, Chief Financial Officer |
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PRESENTER(S): |
William Greene, Chief Financial Officer |
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TITLE:
title
R2021-10-04 - Resolution Ratifying the Adoption of the Tentative 2022 Budget
end
AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
Approve Resolution R2021-10-04 ratifying the adoption of the Agency’s Tentative 2022 Budget as presented.
BACKGROUND:
Each year, and in compliance with state statute, the Board establishes a tentative budget for the next year and sets a public hearing at which interested parties may comment upon the tentative budget.
DISCUSSION:
On October 13, 2021, the Board of Trustees heard a presentation on the 2021 Tentative Budget. The focus of the requested action is the resolution that provides for the adoption of the 2022 tentative budget and sets a public hearing for November 4, 2021 at 3:30 p.m. at the Golden Spike Rooms of the Frontline Headquarters Building at 669 West 200 South in Salt Lake City.
Upon approval, the 2022 Tentative Budget will be mailed to the governor’s office, legislature, mayors, commissioners, metropolitan planning organizations, and others. It will also be made available to the public on UTA’s website and will be open for comment throughout the public comment period. The 30-day public comment period will conclude on December 4, 2021 with all comments provide to the Trustees.
On November 17, 2021, the Local Advisory Council will be given the opportunity to review the 2022 Tentative Budget and provide their advice to the Board of Trustees.
The 2022 Final Budget will be reviewed at the December 8, 2021 Board of Trustees meeting with adoption scheduled for the December 15, 2021 Board of Trustees meeting.
The detail of the 2022 Tentative Budget is provided in Exhibit A of the resolution.
ALTERNATIVES:
The Board could choose to amend the Tentative Budget. This would lengthen the approval process and potentially push approval into 2022.
The Board could choose not to adopt the Tentative Budget.
FISCAL IMPACT:
Should there be a delay in adopting the 2022 Final Budget, the 2022 Tentative Budget would serve as the adopted budget until the 2022 Final Budget is approved.
ATTACHMENTS:
1. Resolution R2021-10-04
2. 2022 Tentative Budget Document
3. 2022 Budget Public Hearing Notice