City Council Adopts FY25 Final Budget

Post Date:06/20/2024 7:00 PM

News Release – For Immediate Release
June 20, 2024 

City Council Adopts FY25 Final Budget  

Leaders Prioritize High Customer Service Levels and Investments in Critical Community Initiatives 

 Park City, Utah - The City Council unanimously adopted its Fiscal Year 25 Budget on Thursday, June 20. The final $98.5 million Operating Budget is the result of months of collaboration with residents, businesses, and community stakeholders to reflect and achieve the Community’s vision of a well-balanced, locally-connected, and high-quality experience.  

 “The City Council and I share a steadfast commitment to fiscal responsibility, while adequately supporting our goals and our professional workforce,” said Park City Mayor Nann Worel. “The FY25 budget accomplishes what we set out to do: maintains core programs and essential services, provides high quality customer service to our residents and businesses, reinvests in our employees, and continues to support critical community initiatives and new capital projects.” 

 Several FY25 budget (operations and capital) initiatives are highlighted below:  

  • $9.4 million for the Homestake roadway and multi-use path and sidewalk;
  • $10 million for multi-use community projects with affordable housing;
  • $825,000 to support affordable childcare for working families; 
  • $638,500 for essential non-profit services;
  • $15 million for a Park-and-Ride near the intersection of S.R. 248 and U.S. 40;
  • $3.5 million to underground transmission lines in Bonanza Park;
  • $2.5 million for bike and pedestrian improvements in Thaynes/Three Kings area;
  • $1 million in additional investments in the City’s workforce;
  • $15.2 million for a new Community Center at City Park;
  • $7.5 million for new aquatics facilities at the PC MARC;
  • $8.5 million for bus stop improvements, including shelters and ADA upgrades; and
  • $75,000 to plan for the 2034 Winter Olympics.

 “This budget addresses important community priorities, such as transportation, housing, recreation, connectivity, and our employees,” said City Manager Matt Dias. “Thank you to the City Council for their leadership and support to pursue an aggressive agenda of capital projects, quality customer service, and maintaining a competitive workforce. In particular, we are very excited to begin to renovate our PC MARC aquatics facilities, improve our bus stops, and build a new Park City community center and summer camp headquarters in City Park, to name but just a few.” 

By state law, Park City is required to adopt a balanced fiscal year budget by July 1. To learn more about Park City’s new budget, visit the Budget team’s website here.  

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Renewables

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Converting our electricity to 100% renewable is a major part of our transition to become a carbon neutral community. Renewable electricity is created using technologies that don't burn any fossil fuels to create energy, such as water, wind or the sun. There are no associated greenhouse gas emissions with creating energy from renewables. We're confident that the future will be powered with renewables.

Approximately one-third of our community-wide carbon footprint comes from the electricity we use. Decarbonization means removing the carbon emitted from our energy sources. Transitioning to renewables is how we will decarbonize the energy that Park City uses.

In 2016, Park City made the decision to work with the local utility, Rocky Mountain Power, to work together to bring 100% renewable electricity to Park City. Salt Lake City, Summit County and Moab have joined the effort and in total we will convert eighteen percent of Utah’s electric grid to renewables. While Park City is a small community of only around 8,000 people, we believe we have the power to influence to create a pathway for other communities to transition to 100% renewables.

Not only does renewable energy emit drastically fewer carbon emissions as it produces electricity, it will transform Utah’s economy, produce jobs and provide stable electricity. It will also clean the air as we transition our homes, buildings, and transportation to fully electric. Renewables are becoming cheaper than fossil fuels. Renewable energy has plunged is price, and now is competitive, and often cheaper, when compared to traditional coal and natural gas generation. Renewable electricity often has zero cost fuel. The sun and wind don’t ever send a bill. Compare this to traditional coal and natural gas generation, where the fuel price can fluctuate. PacifiCorp, Rocky Mountain Power’s parent company, recently stated that thirteen of its twenty-two coal plants are uneconomic.

In addition, renewable energy keeps the dollars spent on energy close to home. Park City alone spends over $245 million per year on energy, much of which ends up in unstable or even corrupt regions of the world. Imagine if that money was spent on local jobs, benefiting our local economy?

energy spend infographic (1)

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