Auditing Riverton: What the city's audit shows about its money

Auditing Riverton is a series of stories based on Riverton's public financial records: its annual audit, its budgets and the minutes of its City Council and the two service areas the council governs. Each figure is linked to the record it comes from.

Riverton covers 12.6 square miles and had a population of 46,163, according to the city's fiscal 2025 annual financial report. ^[2]

The audit

HBME, an accounting firm in Bountiful, said in its Dec. 19, 2025 report that Riverton's fiscal 2025 financial statements "present fairly, in all material respects," the city's financial position, an unmodified opinion. ^[1]

In a separate report under the State Compliance Audit Guide, HBME said the city complied in all material respects with the state requirements it tested, including budgetary compliance, fund balance, impact fees and the Open and Public Meetings Act. The firm said it did not identify any deficiencies in internal control over compliance that it considers material weaknesses or significant deficiencies, while noting that such weaknesses may exist that were not identified. ^[7]

Revenue and spending

Riverton's governmental activities reported $54,941,550 in revenue and $44,703,209 in expenses in fiscal 2025. Its water and sanitation utilities reported $16,743,771 in revenue and $16,498,900 in expenses. ^[3]

The General Fund, which pays for most day-to-day services, took in $21,510,554 and spent $26,160,656. Net transfers and other financing sources of $3,652,644, including transfers from the law enforcement service area, brought the year's change in fund balance to a decline of $997,458. The final budget had planned a decline of $2,984,841. ^[4]

The General Fund ended the year with $9,154,227. Of that, $4,714,709 was unassigned. City management reported unrestricted General Fund balance, which includes committed, assigned and unassigned amounts, at 25% of the year's actual revenue, down from 31% in fiscal 2024 and above the City Council's goal of a 20% minimum. ^[13][14]

Property tax

Riverton's basic city property tax rate is listed as 0.000000 in every tax year from 2015 through 2024. The audit says the city decreased its rate to zero beginning Jan. 1, 2012, as part of its annexation into the Salt Lake Valley Law Enforcement Service Area. ^[5][6]

Riverton later created its own law enforcement service area, active Jan. 1, 2018, and fire service area, active Jan. 1, 2021. Both are governed by the mayor and City Council and are reported in the city's financial statements as special revenue funds. ^[15][16]

Debt and redevelopment

At June 30, 2025, management's debt summary lists $34,849,862 in revenue bonds, unamortized bond premiums, financing leases, a note payable to the Unified Fire Service Area and software subscription liabilities. It does not include pension or compensated-absence liabilities. Riverton had no general obligation debt outstanding. ^[17][18]

The redevelopment agency received $2,935,877 of tax increment for its Western Commercial District project area in fiscal 2025. It spent $2,775,336 on developer infrastructure reimbursements and $160,541 on a tax increment rebate to Salt Lake County. ^[15]

This year's votes

On June 2, 2026, the council unanimously approved Resolution 26-25, the fiscal 2026-27 fee schedule, and Resolution 26-26, the final fiscal 2026-27 budgets. On its consent agenda, it approved Resolution 26-27, a construction and cost-sharing agreement for the Southwest Aqueduct Reach 2. ^[8]

On June 16, the council unanimously approved Resolution 26-32, the final amended fiscal 2025-26 budget, and Resolution 26-33, the 2026 tax rate. The minutes do not state budget totals or tax rates. ^[11]

At the Sept. 15 meeting, Mayor Tish Buroker said the water rate increase had been approved at the June 2 council meeting, according to the approved minutes. ^[19]