Auditing South Jordan: what we're examining and why

South Jordan's fiscal 2025 financial report estimates the city's population at 88,740 and calls it the 10th largest city in Utah. ^[1]

The Utah Ledger is reviewing the city's public financial records: budgets, independent audits, bond notices, redevelopment reports and the records of districts the city has created. This series reports what those records show. Each statement links to the record it comes from.

The budget

The city's fiscal 2026-27 budget says its total appropriated operating budget of $176 million is made up of the general, special revenue, debt service, enterprise, internal service, and trust and agency funds. The general fund appropriation is $72,206,443. ^[2]

The City Council adopted the final budget in Resolution R2026-11 on June 2, 2026. Council members Don Shelton, Jason McGuire, Patrick Harris, Kathie Johnson and Tamara Zander voted yes. ^[3]

The budget says the city accepted the certified tax rate set by the county and has no property tax supported debt. It also adds a new monthly parks fee, the subject of a separate story in this series. ^[2]

What the audit says

The city's independent auditor, Gilbert & Stewart, CPA, PC, issued an unmodified opinion dated Dec. 19, 2025, on the city's financial statements for the year ended June 30, 2025. The auditor also issued its report under Government Auditing Standards on the same date. ^[1]

The report puts the city's total net position at $719,385,581 on June 30, 2025: $505,927,704 in governmental activities and $213,457,877 in business-type activities. ^[1]

Unassigned general fund balance was $20,800,741, which the report says equals 34% of general fund spending and 31% of next year's budgeted revenues. The report notes state law allows up to 35% of the next year's estimated revenues to be held unassigned. ^[1]

A financial audit checks whether money was recorded and reported correctly. It is not a review of whether each project or incentive delivered what it promised.

Debt

As of June 30, 2025, the city reported $49,390,000 in long-term bonded debt. "The entirety of this amount is represented by bonds secured solely by specific revenue sources," the report says. Counting notes payable, long-term debt from bonds and notes was $57,325,528. ^[1]

Among the bonds the report names is a Series 2016 special assessment bond tied to assessments that repay the city. ^[1]

Redevelopment and the Daybreak district

The city's redevelopment agency fund balance rose $8,151,911 in fiscal 2025 to $41,255,113. Property tax collections from redevelopment areas fell 66.7% to $771,754, according to the report. ^[1]

Separately, the City Council held a Dec. 2, 2025 hearing on creating the Downtown Daybreak Public Infrastructure District No. 1, covering 30.629 acres of the Daybreak Urban Center plat. The notice says the district may issue debt repayable from property taxes, special assessments, tax increment and other legally available revenues. ^[4]

The city's hearing on creating that district came after the city's fiscal 2025 year ended on June 30, 2025. Its own statements as of June 30, 2026 report $86,320,000 in bonds payable. These are the district's figures, and they should not be added to the city's audited debt, which is measured at a different date. ^[5]

What comes next

Our first stories look at the Daybreak district's $61.08 million payment to its developer, the new parks fee and officials' statements that it would be tracked separately, and the proposed lease revenue bonds for a new fire station. If you have records or questions about South Jordan's finances, use the contact on our About page.