Auditing Draper: what the city's own records show about its money

The Utah Ledger is reviewing Draper City's public financial records. Every sentence in the series is tied to a linked public record: the city's audited annual financial report, its budget documents, and agendas, packets and minutes of the City Council and the Community Reinvestment Agency. The series reports what those records say and does not draw conclusions from them. Draper's city tax rate applies to property in both Salt Lake County and Utah County. ^[3]

The latest audit

Draper's most recent audited report covers the fiscal year ended June 30, 2025 (FY2025). HBME, LLC signed the independent auditor's report on Nov. 13, 2025, and the city's transmittal letter says the auditors found a reasonable basis for "an unmodified opinion." ^[1]

The report puts the General Fund's balance at $41,357,229 on June 30, 2025, up $1,168,779 during the year. Of that, $18,979,645 was unassigned, which the report describes as 34.6% of General Fund revenues. The rest includes $6,401,621 classified as nonspendable and amounts restricted for B and C roads, transportation and debt service. All governmental funds together held $90,385,516. ^[1]

The FY2025 General Fund had $54,824,396 in revenues and $43,604,718 in expenditures. It also recorded $7,168,124 from the sale of capital assets, $923,081 in transfers in and $18,142,104 in transfers out. Actual expenditures were $4,010,382 below the final General Fund budget of $47,615,100, the report says. ^[1]

Debt

As of June 30, 2025, the report says, the city's outstanding bonds, notes payable and lease payable amounted to $23,455,487, a net decrease of $2,919,109 over the year. That includes three sales tax revenue bonds totaling $10,615,000 and one water revenue bond of $815,000. The report says the city made the final payment on its general obligation bond in FY2025. ^[1]

The FY2027 budget

The tentative budget presented May 19, 2026 totaled $167,955,400 across all city funds. ^[2]

On Aug. 18, 2026, the City Council unanimously adopted Resolution 26-39, which sets the final FY2027 budget and a city General Fund tax rate of 0.001128 in both counties. The finance department's adoption presentation shows $54,133,400 in General Fund financing, including $2,696,000 from the new property tax and a $3,295,700 appropriation of fund balance. ^[3][4][5]

As of Oct. 16, 2026, the city's budgets page lists the FY2026-27 document as an "Interim Annual Budget" and lists the FY2025 report as its latest annual financial report. ^[7]

Redevelopment

Draper's Community Reinvestment Agency reports on its project areas in an annual report; the 2026 edition is dated June 30, 2026. ^[6] On Aug. 18, 2026, the agency's consultant told the council that the city has six active project areas with combined fund balances of almost $31 million, according to the approved minutes. ^[5]

What the series covers

The first stories cover the FY2027 property tax increase and the planned use of reserves, balances left in redevelopment areas whose tax collection has ended, a medical office reimbursement agreement the agency approved in September, and the ambulance fund's FY2025 results. No record reviewed for the series establishes misconduct.