Heber City's tax vote cited a power company dividend; the utility's statements show none paid through Aug. 31
Heber City cut its tax increase on Aug. 18, citing a Heber Light & Power dividend. A month earlier, the utility's board had taken no final action on a dividend it was eligible to pay, and its financial statements show no distributions through Aug. 31.
Continuing story: Auditing Heber City
Heber City's Aug. 18 vote to reduce its property tax increase relied on a dividend from Heber Light & Power. As of the end of August, the utility's financial statements showed no distributions to its owners for 2026. [3][2]
The July board discussion
At the utility's July 22, 2026 board meeting, staff member Bart Miller presented a quarterly dividend calculation. "Based on the current financial calculations, Heber Light & Power is eligible to issue up to $2 million in dividends," the minutes say. Staff recommended paying the current year's dividend. [1]
The board discussed the advantages and disadvantages of a dividend, including the effect on cash reserves and how dividends from prior years would be "trued up." The minutes record that no final action was taken pending further review. These minutes appear in draft form in the board's August packet. [1]
The city's vote
On Aug. 18, the Heber City Council adopted "a 4.2% certified tax rate instead of 4.8%" based on the Heber Light & Power dividend, 5-0. Mayor Heidi Franco had asked the council to consider a lower increase based on the dividend. [3]
Council Member Mike Johnston "pointed out the deficit caused by the lack of dividends received by HL&P over the past four years," the minutes say. [3]
Franco, Cheatwood and Murdock are listed on Heber Light & Power's board roster, Franco as Heber City mayor and Cheatwood and Murdock as Heber City Council representatives. [1]
What the utility's statements show
The utility's financial summary lists distributions of $300,000 for 2022, $75,000 for 2023 and none for 2024 or 2025. It shows none for 2026 through Aug. 31, and none in the year-to-date or annual 2026 budget. These are distributions to all owners combined. [2]
The August 2026 statement of revenues and expenses shows no distribution to owners, actual or budgeted. [2]
The agendas for the board's Aug. 26 and Sept. 23 meetings do not list a dividend item. [4][2]
Heber Light & Power is a separate entity from Heber City. Its eligibility to pay up to $2 million is not a payment or an amount owed to the city, and the records reviewed do not show how a dividend would be divided among owners. The Ledger did not review the utility's Sept. 23 meeting minutes or any later records.
Sources
- Heber Light & Power · Aug. 26, 2026 board packet (July 22 minutes)
- Heber Light & Power · Sept. 23, 2026 board packet
- Heber City Council · Aug. 18, 2026 approved minutes
- Utah Public Notice Website · Heber Light & Power Aug. 26, 2026 board agenda
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.