The audit for Hideout’s fiscal year 2025 budget found that the town ended the year with more expenses than revenues in a few parts of its budget.
That’s not allowed under Utah law.
The disparities include a difference of $88,000 in the general government department, $366,000 in the capital projects fund and an unassigned balance of $289,000 in the general fund.
The town’s finance consultant, Katie Shepley, said the main reason for the disparity is because the town didn’t have street, stormwater, sewer and water impact fees in the budget.
“Going forward, we will be putting a budget together each year for impact fees,” she said.
She said the town will have the same feedback in its fiscal year 2026 audit as well.
The council amended the fiscal year 2027 budget to include impact fee expenses and revenues.
As for the unassigned balance, the town plans to review its spending near the end of the year to make sure any deficits are eliminated. That could involve transferring money from other funds to balance the budget.
