Yes, in my opinion. For instance (just motivation code...):

package My::Utils;

my %instance;

sub read_conf {
  #fills %instance
}

sub value {
  my ($name, $new_val) = @_;
  if (2 == @_) { #new value passed
    $instance{$name} = $new_val;
  }
  return $instance{$name};
}

package My::Something
use My::Utils;
print My::Utils::value("something_configured");
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but I prefer to really create instance of the object, and then just call $utils_instance->value("something"). Of course, it needs a little different My::Utils.