Murray's Public Works facility: $22.3 million in contracts, bonds and a $4 million 'shortfall' line
Murray sold $18,860,000 in lease revenue bonds in 2024 for new Public Works facilities, expected to be finished in fall 2027. At June 30, 2025, the city reported $22,311,784 in Public Works facility contracts, $1,532,661 of it spent. A fiscal 2026 capital list set aside $4,000,000 for an estimated shortfall.
Continuing story: Auditing Murray
Murray's Municipal Building Authority, which issued bonds to build City Hall, issued bonds in February 2024 to fund new Public Works facilities on the existing site. The budget says the project is expected to be completed in fall 2027. [2]
The 2024 lease revenue bonds were issued Feb. 6, 2024, for $18,860,000 over 25 years at an average coupon of 4.70%, according to the budget's debt schedule. It lists $18,300,000 in principal remaining to be paid from fiscal 2027 through 2049, plus $10,977,519 in interest. [3]
The building authority's rent comes from the General, Water, Wastewater, Solid Waste, Storm Water and Fleet funds and equals the debt service on its bonds, the budget says. [2]
Contracts at June 30, 2025
The city's audited fiscal 2025 report lists $22,311,784 in active contract commitments for Public Works facilities at June 30, 2025. Of that, $1,532,661 had been spent and $20,779,123 remained. [1]
Across all projects in the table, contract commitments totaled $35,978,000, with $11,824,888 spent and $24,153,112 remaining. [1]
The report says construction in progress rose $5.7 million during fiscal 2025 because of work on the Public Works facility and the Murray Theater. [5]
Spending in the budget
The building authority's budget shows $1,435,663 spent on Public Works buildings in fiscal 2025 and an estimated $13,560,999 in fiscal 2026, against an amended fiscal 2026 budget of $18,560,999. [2]
For 2026-27, it budgets $5,000,000 for Public Works buildings and $250,000 for equipment, funded by $5,250,000 in reserves. The capital list describes these as a "Partial Roll forward of Public Works Project" and an "Equipment roll forward." [2][6]
The building authority's fund balance is projected to fall from an estimated $7,431,228 to $2,181,228 during the year. [2]
The $4 million shortfall line
A fiscal 2026 capital project list included in the budget book allocates $4,000,000 under "Public Works facility upgrades" to "Fund the estimated shortfall for the Public Works Construction save until needed," in account 41-4101-47200. [4]
The Capital Improvement Projects Fund lists $4,000,000 in that Public Works Facilities account in both the fiscal 2026 estimated actual and amended budget columns, and nothing for 2026-27. [8]
On Sept. 15, 2026, the council's budget amendment appropriated $15,658,092 from Capital Improvement Projects Fund reserves for projects in progress from the previous year's budget, including $4,000,000 for "building construction and improvement." The ordinance does not name the project. [7]
The contract figures are a June 30, 2025 snapshot, not current amounts. Budget amounts are appropriations, not payments. A budgeted shortfall or roll-forward is not by itself a cost overrun.
Sources
- Murray City · FY2025 annual comprehensive financial report, Note 14 commitments
- Murray City · FY2027 final budget, Municipal Building Authority
- Murray City · FY2027 final budget, MBA debt schedules
- Murray City · FY2026 capital project list (in FY2027 budget book)
- Murray City · FY2025 annual comprehensive financial report, capital assets
- Murray City · FY2027 final budget, Municipal Building Authority capital list
- Murray City · Ordinance 26-30, Sept. 15, 2026 budget amendment (signed)
- Murray City · FY2027 final budget, Capital Improvement Projects Fund
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.