Auditing Taylorsville: what public records show about the city's finances

The Utah Ledger is reviewing Taylorsville City's public financial records. Every sentence in the series is tied to a linked record: the city's audited annual financial report, its budget documents, Salt Lake County Auditor reports and meeting records posted to the Utah Public Notice Website. The series states what those records say and draws no conclusions from them.

The audit

HBME, LLC of Bountiful audited Taylorsville's financial statements for the fiscal year ended June 30, 2025 (fiscal 2025). Its report, dated Dec. 29, 2025, gives an unmodified opinion: the statements "present fairly, in all material respects," the city's financial position. ^[1]

The auditor's separate report on internal control and compliance says the tests "disclosed no instance of noncompliance or other matters" required to be reported under Government Auditing Standards, and that no deficiencies considered material weaknesses were identified. That report states it does not give an opinion on the effectiveness of internal control. ^[2]

In a third report, under the Utah State Auditor's State Compliance Audit Guide, the auditor's opinion is that the city complied in all material respects with the state requirements tested, including budgetary compliance, fund balance, justice courts and restricted taxes. ^[2]

Fund balances and debt

The General Fund spent $30,735,529 in fiscal 2025, according to the report's management discussion, which puts General Fund revenue at $31,778,000. ^[1]

The General Fund ended the year with a total fund balance of $12,930,005, of which $11,117,910 was unassigned. The management discussion says the unassigned balance equals 34.9% of revenues and that the most state law allows is 35%. The report's unaudited transmittal letter describes the $12,930,005 total as the unassigned balance. ^[1]

All of the city's governmental funds together reported fund balances of $40,856,193. ^[1]

At June 30, 2025, the city owed $2,055,200 in revenue bonds for governmental activities and $634,800 in revenue bonds for its storm drain fund. Separately, it owed $2,172,460 in leases and $911,833 in compensated absences. ^[1]

Budget and redevelopment

The City Council adopted the final fiscal 2027 budget, Resolution No. 26-22, by a 5-0 vote on Aug. 12, 2026, according to the meeting minutes posted for that date. ^[4]

The budget lists General Fund revenues of $35,493,390 and expenses of $35,493,390. ^[3]

For tax year 2025, the Salt Lake County Auditor's report lists five Taylorsville agency project areas with $2,607,593 in current-year entitled tax increment. ^[5]

What the series covers

Stories in the series cover the General Fund's advance to the storm drain fund, the extension of the 5400 South and Bangerter Highway urban renewal area, the 2026 property tax increase for road maintenance and the Solstice at 54th housing proposal before the redevelopment agency.

What the Ledger could not read

Several Taylorsville minutes on the Utah Public Notice Website are scanned images that the Ledger could not read, including the approved March 18, 2026 council minutes and the Sept. 2, 2026 council minutes. Findings that depend on them are left out.