Utah Code § 10-5-107

(1) (a) On or before the first regularly scheduled town council meeting of May, the mayor shall: (i) in accordance with Subsection (1)(b), prepare for the ensuing year a tentative budget for each fund for which a budget is required; (ii) make the tentative budget available for public inspection; and (iii) submit the tentative budget to the town council. (b) The tentative budget for each fund shall set forth in tabular form: (i) actual revenues and expenditures in the last completed fiscal year; (ii) estimated total revenues and expenditures for the current fiscal year; and (iii) the mayor's estimates of revenues and expenditures for the budget year. (2) (a) The mayor shall: (i) estimate the amount of revenue available to serve the needs of each fund; (ii) estimate the portion to be derived from all sources other than general property taxes; and (iii) estimate the portion that shall be derived from general property taxes. (b) From the estimates required by Subsection (2)(a), the mayor shall compute and disclose in the budget the lowest rate of property tax levy that will raise the required amount of revenue, calculating the levy on the latest taxable value. (3) (a) Before the public hearing required under Section 10-5-108, the town council: (i) shall review, consider, and tentatively adopt the tentative budget in any regular meeting or special meeting called for that purpose; and (ii) may amend or revise the tentative budget. (b) At the meeting at which the town council adopts the tentative budget, the council shall establish the time and place of the public hearing required under Section 10-5-108.