Auditing Murray follows the city's money through its own budgets, audits and ordinances. Murray adopted a $68,985,465 General Fund budget for 2026-27. At June 30, 2025, the city reported $98,099,383 in long-term bonded, lease and subscription debt and an unassigned General Fund balance of $16,181,468.
Murray's payments toward UTOPIA fiber network debt totaled $26,185,340 at June 30, 2025. The city committed $2,008,315 for fiscal 2025, less a $579,790 UTOPIA dividend, and the commitment rises 2% a year through 2040.
Murray's payments toward UTOPIA fiber network debt totaled $26,185,340 at June 30, 2025. The city committed $2,008,315 for fiscal 2025, less a $579,790 UTOPIA dividend, and the commitment rises 2% a year through 2040.
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Murray sold $18,860,000 in lease revenue bonds in 2024 for new Public Works facilities, expected to be finished in fall 2027. At June 30, 2025, the city reported $22,311,784 in Public Works facility contracts, $1,532,661 of it spent. A fiscal 2026 capital list set aside $4,000,000 for an estimated shortfall.
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Murray's audited reports list property tax rebates to three Fireclay developers. For one, Streit Avida, the fiscal 2025 table shows payments $279,261 above its listed maximum, and its prior-years figure doesn't match the year before. The records reviewed don't explain the differences.
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The Murray City Council will hold a public hearing Oct. 20 on proposed changes to 11 sections of the city code that set electric rates. The August budget said a rate study was under way and no rate increases were scheduled. The Power Fund sold $19,090,000 in revenue bonds in May 2025.
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Murray raised its General Fund property tax rate from 0.001370 to 0.001448 for 2026-27. The city estimated the increase would bring in $714,297, split between police and fire pay and staffing, and cost the owner of a $614,000 home about $26.46 a year.
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Murray's 2026-27 budget plans to move $5,456,080 from its water, wastewater and power funds into the General Fund, calculated at 8% of revenues. The same budget projects the power and wastewater funds drawing down reserves for capital projects, and a September amendment appropriated more from both.