Funding Our Future Dashboard

To provide the accountability in spending that residents demand, new revenue from the sales tax increase has been placed in a separate and trackable budget – setting an accountability precedent for future administrations. Using the Funding Our Future Dashboard, residents are able to track how this new revenue is being spent; how projects and programs are being implemented, and progress towards goals. Street reconstruction projects and expenditures will also be tracked on the dashboard since the voter approved Streets Reconstruction Bond is part of Funding Our Future.

2018-2019 Sales Tax Revenue Update

On August 1, 2018, the .05 percent sales tax increase went into effect. Salt Lake City began receiving this new revenue beginning in October 2018 with the first funds being dispersed for the projects and expenditures outlined on this dashboard beginning in early 2019. Because 2019 is a shortened collection period – generating about $25 million of the $33 million expected to be collected during a full year – the start date for allocating funding will vary for different program areas.

2018 Streets Reconstruction Bond Update

On November 6, 2018, Salt Lake City voters approved the $87 million Streets Reconstruction Bond. This new dedicated funding will allow the City to begin addressing our most deteriorating streets and, when paired with new sales tax revenue for streets maintenance, will enable us to prolong the life of our entire street network.

As part of the Funding Our Future initiative, City leaders have committed to ensuring accountability in spending and will continue to provide residents with updates on streets reconstruction and maintenance projects as they progress.

Here are the next steps for the Streets Reconstruction Bond:

• Funding will be issued as several smaller bonds totaling no more than $87 million
• The first bond, of approximately $20 million, will be issued in 2019 or 2020 – whichever provides the Engineering Division with the maximum amount of time to efficiently spend funding within the required 3-year period
• The first streets reconstruction project funded by the bond is expected to begin design in 2019 and construction in 2020.

Updated November 2018.