The Utah Ledger begins a series examining Saratoga Springs' public financial records. This explainer sets out the city's adopted budget, its last audited year, its debt and the two related entities that sit inside its books.
Saratoga Springs' Community Development Agency, which the city describes as a tool to share sales tax with incoming businesses, ended fiscal 2025 with $1,115,389. The city's later budget documents show no agency revenue or spending budgeted for fiscal 2026 or 2027.
Saratoga Springs' Community Development Agency, which the city describes as a tool to share sales tax with incoming businesses, ended fiscal 2025 with $1,115,389. The city's later budget documents show no agency revenue or spending budgeted for fiscal 2026 or 2027.
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Saratoga Springs adopted a property tax increase in August that the city said would raise $3.1 million a year. The adopted budget ties it to police positions and part of the staffing for a future third fire station, and says it does not pay for the building.
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Saratoga Springs financed its new City Hall and library through a building authority that issued lease revenue bonds. The city's audited report shows $24.8 million in authority capital spending in fiscal 2025, and its budgets set aside $3.8 million for the authority's debt payments in fiscal 2027.
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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%.