Auditing Manti: what the city's audit and budget records say about its money

Manti runs its own water, sewer and electric systems, and its fiscal 2025 audit reports those utilities as business-type activities separate from general government. ^[2]

The Utah Ledger is reviewing Manti's public financial records and reporting only what the documents state. Each story in this series links every figure to the record it comes from and names the dates it covers.

The fiscal 2025 audit

HintonBurdick, PLLC, of St. George audited the city's statements for the fiscal year ended June 30, 2025. Its Dec. 19, 2025, report says the statements "present fairly, in all material respects" the city's financial position. ^[1]

In a separate report on internal control and compliance, the auditors said they did not identify any deficiencies they consider material weaknesses, and that their tests "disclosed no instances of noncompliance or other matters" required to be reported under Government Auditing Standards. ^[5]

The auditors' report under the State Compliance Audit Guide says Manti complied in all material respects with the state requirements tested, which included budgetary compliance, fund balance, cash management, the justice court and the Open and Public Meetings Act. ^[5]

The city's total net position was $15,118,599 at June 30, 2025: $7,588,387 for governmental activities and $7,530,212 for business-type activities. Total revenues were $7,393,526 and program costs were $6,124,166. ^[2][10]

General fund revenues were $2,767,726 and expenditures were $3,057,535. With a $250,000 transfer from the electric fund and $201,845 from the sale of capital assets, the fund balance rose $162,036 to $1,471,441, of which $749,588 was unassigned. ^[3][9][11]

The audit's budget note says the library department exceeded its final budget by $577. In the general fund budget-to-actual statement, the $577 overage appears on the airport line, and the library line is under budget. ^[3]

Debt

Governmental bonds outstanding at June 30, 2025, were $150,000 on a 2005 general obligation bond for the aquatic center, $347,000 on 2015 bonds for the ambulance building and $1,236,000 on 2017 bonds for the sports complex. The first two carry no interest; the sports complex bonds carry 1.50%. ^[4]

The utilities owed $288,000 on 2018 water refunding bonds, $1,541,000 on 2013 sewer bonds and $700,000 drawn on 2024 water revenue bonds for a water treatment plant. The 2024 bonds were issued for $7,537,000, and the audit says the city is receiving the proceeds as needed. ^[4]

The audit reports $4,529,526 in long-term liabilities, a figure that includes compensated absences and pension liabilities as well as bonds. ^[4][10]

Cash and deposits

The audit says $4,452,892 of the city's $4,702,892 in bank balances at June 30, 2025, was uninsured and uncollateralized. The city also recorded $2,418,631 in the Utah Public Treasurer's Investment Fund. ^[8]

The fiscal 2026-27 budget

The July 1, 2026, council agenda included a public hearing on the proposed fiscal 2026-27 interim budget, consideration and possible adoption of the county auditor's certified tax rate, and "Adoption of Proposed FY 2026-27 Interim Budget: Resolution 2026-3." ^[7]

The budget workbook Manti filed with the State Auditor is titled "Proposed FY 2026-27 Budget" and dated June 1, 2026. Its general fund column, labeled "2026-27 Approved Budget," lists $3,741,700 in revenues and the same amount in expenditures. ^[6]

The same workbook lists $7,760,500 in water fund expenditures, including $7,000,000 on a line annotated "water treatment plant," along with $2,695,000 for the electric fund and $494,500 for the sewer fund. The water fund section's column is labeled "2026-27 Proposed Budget." ^[6]

What this series will follow

This series will follow the financing and construction of Manti's new water treatment plant, and the transfers from the city's utilities that help fund general government. The fiscal 2026 audit, when published, will be the next annual check on these figures. ^[4][6]