Kanab's audited fiscal 2025 statements show a $2.7 million general fund balance, $35.6 million in total net position and about $7 million in bonds and financed purchases. The council kept revenue-neutral property tax rates and adopted its fiscal 2027 budget in June 2026.
A June 2026 amendment to Kanab's fiscal 2026 budget, adopted 4-0, added $300,000 in general fund transfer authority. It also provided for an interfund loan to cover about $3.8 million in airport projects while the city waits for grant reimbursements.
A June 2026 amendment to Kanab's fiscal 2026 budget, adopted 4-0, added $300,000 in general fund transfer authority. It also provided for an interfund loan to cover about $3.8 million in airport projects while the city waits for grant reimbursements.
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Kanab's auditors reported a significant deficiency, numbered 2007-001, involving year-end adjustments and unperformed account reconciliations. They also found that the city's fraud risk assessment had been submitted to the state but not presented to the council. The city's written response describes steps on both.
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Kanab's final fiscal 2025 budget planned to use $516,450 of general fund balance. The audited results show the fund grew by $627,179, and a correction for tax receivables not accrued in prior years added $678,391 to its starting balance.
