Every year an independent auditor certifies that the city financial statements meet the requirements of GAAP (Generally Accepted Accounting Principles) and GASB (Government Accounting Standards Board), and Utah State. The City Council and Mayor also adopt an annual budget and some budget amendments throughout the year.
To prepare the annual budget, the Mayor works with the various City departments to draft a proposed budget. The Mayor officially presents the recommended budget for the fiscal year of July 1 – June 30 to the Council at the end of April or beginning of May. The City Council holds several public discussions before adopting a final budget. Public hearings are also held to give residents and business owners a chance to weigh-in.