Auditing Salt Lake City
The Ledger's review of Salt Lake City's budgets, audits, debt, redevelopment money and officials' disclosures.
The full audit section: stories by subject, key figures and records →
Background
Auditing Salt Lake City: what the records show about the capital's finances
A records-only review of Salt Lake City's budgets, audits, debt and redevelopment agency, drawn from the city's annual financial reports, its independent auditor, a state legislative audit and Salt Lake County.
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- Politics
Salt Lake City's redevelopment agency is due $55.9 million in 2025 tax increment, county says, above its own $47.9 million estimate
Salt Lake County's tax-year 2025 report lists the downtown project area at $26.2 million. The agency held $337 million in net position at mid-2025 and owes developers under several reimbursement agreements.
- Politics
Salt Lake City reported $4.33 billion in bonds at mid-2025, most of it for the airport
The city's total debt about doubled from fiscal 2020 to fiscal 2025, to $5.19 billion. General obligation bonds, the kind backed by property taxes, were $125.1 million.
- Politics
State audit: Salt Lake City Public Utilities took on more than $600 million in debt with 'no feasible plan' to repay it
The Legislature's auditor general also found a 2025 change in sewer billing raised average bills for schools, charities and churches by about 110.8%. The city agreed with all recommendations.
- Politics
Auditors flagged weaknesses in Salt Lake City's books for FY2023 through FY2025
Eide Bailly reported a material weakness in each of the last three audits. In fiscal 2024 the city produced no quarterly financial reports and filed an incorrect, late deposit report, auditors found.
- Politics
Auditors found Salt Lake City's FY2023 reserve broke the state's 35% cap; it has fallen nearly $60 million since
The city's general fund balance peaked at $202.6 million in fiscal 2023, when auditors reported it exceeded the state limit. It ended fiscal 2025 at $142.9 million.