Auditing Kaysville: what city records show about its audit, reserves, debt and new borrowing plans

The Utah Ledger is reviewing Kaysville's public financial records in a series called Auditing Kaysville. The series reports what audits, council minutes, packets and public notices state, and labels each figure with the year and basis it was reported on.

Kaysville's fiscal year runs from July 1 through June 30. Its council received the audit of the fiscal year ended June 30, 2025 at its Dec. 18, 2025 meeting. ^[1][2]

The audit

Warren Anderson of the auditing firm HBME, LLC told the council on Dec. 18, 2025 that the city received an unmodified, or clean, opinion on its financial statements, according to the minutes. The minutes say the report includes opinions on the financial statements, internal controls and compliance with state requirements. ^[2]

The auditors noted the city carries no general obligation debt. They said the sewer fund showed an operating loss in fiscal 2025 and recommended a fee analysis. HBME's Aaron Hixson said the fund is operating close to break-even, according to the minutes. ^[2]

Reserves and spending

The General Fund, which pays for most day-to-day services, took in $22,429,625 in fiscal 2025 and spent $23,183,369. Its fund balance fell $164,059, from $7,799,062 to $7,635,003, after transfers and other financing items. Of the year-end balance, $7,581,681 was unassigned. ^[1]

Across all city activities, total expenses were $63,748,858 in fiscal 2025. The city's total net position, a measure that includes capital assets such as roads and utility systems, was $206,615,627 on June 30, 2025, up $5,186,404. ^[1]

Debt

The report lists $4,921,000 in Municipal Building Authority lease revenue bonds outstanding on June 30, 2025, down from $5,528,000 a year earlier. A sales tax revenue bond that had $204,000 outstanding in 2024 was paid off. Notes payable were $103,649. ^[1]

Those balances predate two 2026 borrowing proposals. On Sept. 17, 2026, the council approved parameters for up to $6.5 million in sales tax revenue bonds for the city's public works and utility operations center; a public hearing is set for Nov. 5. ^[5][6]

Separately, the Nov. 3, 2026 sample ballot carries a proposition for up to $16,500,000 in general obligation bonds for a fire station. The council posted an Oct. 7 special meeting to take action to cancel that election. The proposition asks voters for authority to issue bonds. ^[7][8]

Property taxes

On Aug. 6, 2026, the council voted 5–0 for a property tax increase that Mayor Tamara Tran said would bring in $802,910 more a year, 14.12% over the city's certified property tax revenue. It then adopted the final fiscal 2027 budget, also 5–0, according to the minutes. ^[4]

The State Tax Commission's 2026 table lists Kaysville's general operations rate at 0.001586 and its final budgeted property tax revenue at $6,484,991. ^[3]

Stories in this series

The fire-station bond election; the operations-center bond parameters; the fiscal 2027 property tax increase; the transfer of the city's remaining federal pandemic relief money to its Water Fund; and the library renovation architect selection. The Oct. 15 packet also asked the council to accept $1,530,000 in Utah Department of Transportation funds for Mutton Hollow road and signal work. ^[9]