The timezone can be managed for the system:
The system and the hardware clock are not necessarily set to the same time. By default, the hardware clock is set to localtime, meaning it is set to the same time as the system clock. If utc is set to True, then the hardware clock will be set to UTC, and the system clock will be an offset of that.
America/Denver: timezone.system: - utc: True
The Ubuntu community documentation contains an explanation of this setting, as it applies to systems that dual-boot with Windows. This is explained in greater detail here.
Set the timezone for the system.
The name of the timezone to use (e.g.: America/Denver)
Whether or not to set the hardware clock to UTC (default is True)