Nephi scheduled a hearing on restructuring an internal loan. The notice gives no amount.
Nephi's council scheduled an Oct. 6 hearing and a resolution on restructuring an interfund loan. The public notice doesn't say which loan. The city's fiscal 2025 audit shows the natural gas fund holding a $415,665 receivable from governmental activities.
Continuing story: Auditing Nephi
Nephi's city council scheduled a public hearing for Oct. 6, 2026 on the restructuring of an internal loan, according to a notice the city recorder posted Sept. 28. [1]
The notice does not say which funds lent or borrowed the money, how much is involved, or what the interest rate or repayment terms are. [1]
The Oct. 6 agenda listed the hearing, followed by consideration of Resolution 10-06-2026 on restructuring an interfund loan. No resolution text was attached to the agenda posting. [2]
Interfund loans in the city's books
The city's fiscal 2025 financial statements show two interfund loans at June 30, 2025. [3][5]
Governmental activities reported a $415,665 long-term interfund loan. On the other side, the natural gas fund reported $415,665 owed to it by other funds. [3][4]
The city's internal service fund reported $163,260 in proceeds from an interfund loan. [5]
In the city's biennial budget, a general fund column labeled estimated revenue lists $429,000 in interfund loan proceeds. The fiscal 2026 and fiscal 2027 final budget columns list none. [6]
An interfund loan moves money between a city's own funds. It is not outside borrowing. The amounts here come from different records and dates and are not added together.
Sources
- Nephi City · Public hearing notice, restructuring of an internal loan (posted Sept. 28, 2026)
- Nephi City Council · Oct. 6, 2026 meeting agenda (Utah Public Notice Website)
- Nephi City · Fiscal 2025 basic financial statements and independent auditor's report (Larson & Company, Nov. 14, 2025), reconciliation of governmental fund balances to net position
- Nephi City · Fiscal 2025 basic financial statements and independent auditor's report (Larson & Company, Nov. 14, 2025), proprietary funds statement of net position
- Nephi City · Fiscal 2025 basic financial statements and independent auditor's report (Larson & Company, Nov. 14, 2025), proprietary funds statement of cash flows
- Nephi City · Fiscal 2025–2027 biennial budget, state-filed copy (Aug. 21, 2026), general fund miscellaneous revenue
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.