Auditors found Ogden's general fund over the state reserve cap in fiscal 2020 and 2024

Ogden's outside auditors reported that the city's general fund held more than Utah law allows at the end of fiscal 2020 and again at the end of fiscal 2024. ^[2][1]

As of June 30, 2024, the city's aggregate unassigned, assigned and committed general fund balance totaled 39.42% of general fund revenue, according to HBME, LLC. State law sets the maximum at 35%. ^[1] Management concurred and said it would work to reduce the fund balance as needed to comply. ^[1]

For fiscal 2020, the auditors reported the balance at 27.8% of revenue, when the legal maximum was 25%. They listed among the causes that tax revenues were greater than anticipated. ^[2] The fiscal 2021, 2022 and 2023 compliance reports list no fund balance finding. ^[5][6][7]

Reserves rose, then fell

The general fund's total balance was $19,913,862 at the end of fiscal 2020 and $74,334,274 at the end of fiscal 2024. ^[3] It dropped by $16,067,637, or 21.62 percent, to $58,266,637 in fiscal 2025. ^[3]

The city's fiscal 2025 report says it transferred money to its capital improvement projects fund, spent ARPA money previously carried in the fund balance and "utilized the fund balance for one-time expenses rather than proposing a property tax increase." ^[3]

For fiscal 2025 the city calculated the 35% ceiling at $37,548,392 and reported an assigned and unassigned balance of $36,808,444. ^[3] The fiscal 2025 compliance report lists the 2024 fund balance finding under prior-year findings. ^[1]

What the budget projects

The fiscal 2027 budget projects the general fund balance at $42,894,785 on June 30, 2026, and $38,489,310 on June 30, 2027. ^[4] City policy sets a reserve range of 5% to 35% and says the city will keep a minimum reserve of 20% when revenues permit. ^[4]