Park City's general fund reserve stayed under the state maximum in each year from FY2019 to FY2025

Park City's unassigned general fund balance was below the state maximum at the end of each fiscal year from FY2019 through FY2025, according to the city's annual financial reports. At June 30, 2025 it was $17,409,078, or 33.2% of general fund revenues. ^[1]

The FY2025 report states that Utah code sets a 5.0% minimum ($2,622,791) and a 35.0% maximum ($18,359,537) for the accumulated general fund balance, and that the unassigned balance was $950,459 below the maximum. ^[1]

Year by year

FY2019 (June 30, 2019): unassigned balance $8,705,419, or 24.7% of general fund revenues; the report gave a 25.0% maximum of $8,800,665. ^[7]

FY2020: $7,811,877, or 23.6%; maximum (25.0%) $7,941,308. ^[6]

FY2021: $13,640,848, or 33.6%; maximum (35.0%) $14,197,089. ^[5]

FY2022: $14,145,271, or 33.1%; maximum (35.0%) $14,961,251; the report states the balance was $815,980 below the limit. ^[4]

FY2023: $15,936,018, or 33.3%; maximum $16,728,180; $792,162 below the limit. ^[3]

FY2024: $15,556,589, or 32.3%; maximum $16,862,766; $1,306,177 below the limit. ^[2]

FY2025: $17,409,078, or 33.2%; maximum $18,359,537; $950,459 below the limit. ^[1]

Revenue and spending

General fund revenues were $33,035,069 in FY2020 and $40,563,113 in FY2021. ^[6][5]

In FY2024 the general fund took in $48,179,332 and spent $50,594,284, and ended the year with a total fund balance of $16,159,134. ^[2]

In FY2025 it took in $52,455,821 and spent $52,566,024, and ended with a total fund balance of $18,338,814. The FY2025 report lists budgeted revenues of $52,593,426 and budgeted expenditures of $56,222,880. ^[1]