A facts-only guide to Parowan's finances: the fiscal 2025 audit, the city's debt and reserves, the proposed fiscal 2027 budget and the water-system borrowing the council authorized in June 2026.
Parowan's fiscal 2025 audit reports a $1,221,423 long-term receivable from the Parowan Reservoir Company, which agreed to pay $79,000 a year for 20 years toward its share of debt payments. It also owes $352,423 in other costs not expected to be paid until after the debt period.
Parowan's fiscal 2025 audit reports a $1,221,423 long-term receivable from the Parowan Reservoir Company, which agreed to pay $79,000 a year for 20 years toward its share of debt payments. It also owes $352,423 in other costs not expected to be paid until after the debt period.
AI-generated illustration: The Utah Ledger · Original graphic · The Utah Ledger
The city's auditors reported that Parowan did not complete and approve its fiscal 2025 fraud risk assessment within the fiscal year, as state rules require. The city said 75% of its front-office staff turned over in two months.
AI-generated illustration: The Utah Ledger · Original graphic · The Utah Ledger
The council authorized up to $12 million in water revenue bonds in June 2026 for a spring treatment plant and new water lines. The city's notice says it expects to borrow no more than $9,675,000 over 30 years, with $1,075,000 in principal forgiveness that does not have to be repaid.
