Saratoga Springs' 2025 audit: two state compliance exceptions, and a reserve percentage that doesn't match the report's revenue figure
Saratoga Springs' fiscal 2025 audit report, as filed with the state, says auditors found two instances of noncompliance with state requirements. Its management discussion describes the General Fund's unassigned balance as 50.7% of the fund's revenues; the report's own figures put that share at about 28.2%.
Continuing story: Auditing Saratoga Springs
Saratoga Springs' audited annual report for the year ended June 30, 2025, as filed with the state, includes the auditor's report on the city's compliance with state requirements. It says the audit "disclosed instances of noncompliance, which are required to be reported in accordance with the State Compliance Audit Guide." [1]
Two compliance exceptions
The compliance report says the instances are "described in our letter to management dated December 18, 2025 as items 25-1 & 25-2," and that the auditor's opinion on compliance "is not modified with respect to these matters." [1]
The report says the auditor performed limited procedures on the city's response to the findings and expresses no opinion on that response. The filed report does not reproduce the letter to management. [1]
The reserve percentage
The management discussion at the front of the report says the General Fund's unassigned fund balance "totaled $12,936,978 and is 50.7 percent of the General Fund total revenues for the year." [1]
The report's governmental funds statement lists General Fund total revenues of $45,951,469. Dividing the unassigned balance by that figure gives about 28.2%, by The Ledger's calculation. [1]
The auditor's report says the management discussion is required supplementary information, "not a part of the basic financial statements," and that the auditor applied only limited procedures to it. [1]
Dates
Gilbert & Stewart, CPA PC, of Provo signed its report on Dec. 18, 2025, and gave an unmodified opinion on the financial statements. A Notice of Audit Completed posted on Utah's public notice website on Dec. 16, 2025 said the city's fiscal 2025 audit report had been approved. [1][2]
The 28.2% figure is The Ledger's arithmetic from two figures in the report. Noncompliance findings in a state compliance audit are not findings of lost money, and no record reviewed shows any.
Sources
- City of Saratoga Springs · FY2025 Annual Comprehensive Financial Report, copy filed with the state (management discussion PDF p. 18; revenues p. 37; compliance report p. 113)
- Utah Public Notice Website · Saratoga Springs Notice of Audit Completed, Dec. 16, 2025
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.