Erda's capital projects money: $3.3 million in the 2025 audit, $5.2 million in the September report
Erda transferred $1.75 million from its General Fund to capital projects in fiscal 2025. Its audit assigned $3.3 million to future capital projects at June 30, 2025, and its September 2026 report lists $5,225,000 as capital projects restricted cash. Neither record lists the projects.
Continuing story: Auditing Erda
Of the $6,423,381.94 Erda reported in checking and savings at Sept. 30, 2026, its balance sheet labels $5,225,000 in equity as capital projects restricted cash. Neither that report nor the city's latest audit lists the projects. [1][2]
In the 2025 audit
The city's audited statements for the year ended June 30, 2025, report $3,300,000 in the Capital Projects Fund, all assigned for future capital projects, and $602,409 unassigned in the General Fund. The notes report no restricted fund balance. [1]
The Capital Projects Fund began the year with $1,550,000 and received a $1,750,000 transfer from the General Fund, which the notes say was made to accumulate funds for future capital projects. [1]
Cash and investments totaled $3,694,710, including $3,530,556 in the Utah Public Treasurer's Investment Fund. [1]
In the September 2026 report
The city's balance sheet as of Sept. 30, 2026, prepared on an accrual basis and dated Oct. 3, lists $6,423,381.94 in checking and savings, including $6,225,552.87 in the state treasurer's investment fund. [2]
In the equity section, it lists $1,151,614.56 in retained earnings, $5,225,000 in an account labeled "Capital Projects Restrict Cash" and $23,278.77 in net income for the quarter, for total equity of $6,399,893.33. [2]
The report's budget comparison lists a $1,011,730 transfer to capital projects for the fiscal year, with nothing recorded against it through Sept. 30. [2]
At the June 11 meeting, the council adopted the FY2026-27 budget after amending it to remove the treasurer category and move $45,500 to capital improvement projects, the minutes say. [3]
The audited balance is as of June 30, 2025; the $5,225,000 is an account balance in an accrual-basis quarterly report as of Sept. 30, 2026. The two use different bases and dates. "Assigned" and "restricted" have distinct meanings in governmental accounting, and the September report's label is reported as printed.
Sources
- City of Erda · Basic financial statements and independent auditor's report, year ended June 30, 2025 (Larson & Company)
- City of Erda · Financial report, July through September 2026 (prepared Oct. 3, 2026)
- Erda City Council · June 11, 2026 minutes
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.