Auditing Ivins: What the city's budget, audit and debt records show

Auditing Ivins is a series that follows the city's money through its own records: the annual budget, the audited financial statements and the decisions of the City Council. Every figure links to the official document it comes from.

Ivins's fiscal year runs from July 1 to June 30. The latest audited statements cover fiscal 2025, which ended June 30, 2025. The current budget covers fiscal 2027, which began July 1, 2026. ^[1][2]

The 2026-27 budget

At its June 18, 2026 meeting, the council voted 4-1 to adopt Resolution 2026-12R, the final budgets for the fiscal year ending June 30, 2027. Council members Mike Scott, Sharon Gillespie, Sharon Barton and Wayne Pennington voted yes; Council Member Dillon Hurt voted no. The minutes do not record a reason for the no vote. ^[3]

According to the minutes, the budget reflects lower-than-expected sales tax revenue tied to a population figure the state reduced, partly offset by higher property tax revenue, and it includes funding for the fire station remodel and expansion, sewer and storm drain rate adjustments and capital projects. The council approved the June 18 minutes on July 16. ^[3][7]

The budget document the city posted lists General Fund revenue of $13,543,850 and General Fund expenditures of $13,444,642 for fiscal 2027. It budgets $3,594,913 in current-year property tax and $2,496,866 in sales and use tax. ^[2]

The General Fund budgets $2,513,858 for Santa Clara fire and rescue service in fiscal 2027, compared with $1,640,032 in the fiscal 2025 actual column. ^[2]

The same night, the council unanimously adopted the certified property tax rate for 2026. Staff said adopting the certified rate is required each year and is not a tax increase. ^[3]

The fiscal 2025 audit

Larson & Company, a Spanish Fork accounting firm, audited the fiscal 2025 statements. Its report, dated Oct. 31, 2025, says they present fairly, in all material respects, the financial position of the city's governmental activities, business-type activities and funds. ^[1]

The firm's report on internal control says it did not identify any deficiencies it considers material weaknesses, and its tests disclosed no instances of noncompliance required to be reported. Its separate state compliance opinion says the city complied, in all material respects, with the requirements tested, which included budgetary compliance, fund balance, impact fees and open and public meetings. ^[5]

The schedule of findings lists no financial statement or state compliance findings for fiscal 2025 or the prior year. ^[5]

The city's total net position was $94,526,219 at June 30, 2025, an increase of $7,508,233 from a year earlier. ^[8]

Reserves

The General Fund ended fiscal 2025 with a balance of $4,781,209, up $133,770. Of that, $4,118,964 was unassigned. ^[9][8]

The city's transmittal letter says the unassigned balance equals 33% of budgeted revenues, and that state law requires a General Fund balance of at least 5% and no more than 35% of General Fund revenues. ^[6]

All governmental funds together held $15,110,724 at June 30, 2025, much of it restricted or assigned for construction. ^[9]

Debt

At June 30, 2025, the city reported $3,365,853 in governmental bonds and direct borrowings: a 2016 sales tax refunding bond, a 2020 Municipal Building Authority lease revenue bond and a 2024 vehicle lease. It also reported a $1,520,000 2016 storm water revenue bond in its business-type activities. The total was $4,885,853, down from $5,477,576 a year earlier. ^[4][10]

In 2015, the city authorized up to $7,000,000 in industrial revenue bonds on behalf of Tuacahn Center for the Arts. The report says the city is not liable for repaying them, so they are not recorded as a city liability; $4,633,000 was outstanding at June 30, 2025. ^[4]

The fiscal 2027 debt schedule lists $3,135,000 in governmental bond debt at the start of the year, with $309,000 in principal due. ^[2]

Redevelopment and growth

The fiscal 2025 financial statements do not report a redevelopment or community reinvestment agency. ^[1]

The city's transmittal letter says the fiscal 2026 budget anticipated sales tax growth from the continued completion of Black Desert Resort, and that the fiscal 2026 budget included an $860,000 property tax increase to plan for future capital needs and add staff. ^[6]

Later stories in this series examine the fire station remodel and the city's road agreement with the Black Desert developer.