Auditing Nephi
The Ledger's review of Nephi's budgets, audits, debt and redevelopment money. Every story in the series, sorted by subject, with the figures the records show and links to the official documents.
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Auditing Nephi: What the city's books show
Nephi's fiscal 2025 audit gave the city an unmodified opinion and reported $28.3 million in debt, most of it tied to its electric and water utilities. The fiscal 2027 general fund budget is $9.79 million, and the city's own utilities run larger budgets than the general fund.
Read the explainer →Key figures
- $28.3 millionTotal debt outstanding, June 30, 2025Auditing Nephi: What the city's books show →
- $9.79 millionFiscal 2027 general fund budgetAuditing Nephi: What the city's books show →
- $1.21 millionGeneral fund balance, June 30, 2025Auditing Nephi: What the city's books show →
- $13 millionPolice station construction estimateNephi council raises property tax rate to 0.001031 on 4–1 vote, citing new police station →
- 0.001031Adopted fiscal 2027 property tax rateNephi council raises property tax rate to 0.001031 on 4–1 vote, citing new police station →
- $316,870Restatement correcting a 2024 receivables errorNephi's fiscal 2025 audit flags justice court reconciliations and corrects a 2024 error →
- $415,665Interfund loan owed to the natural gas fund, June 30, 2025Nephi scheduled a hearing on restructuring an internal loan. The notice gives no amount. →
Debt and bonds
Nephi scheduled a hearing on restructuring an internal loan. The notice gives no amount.
Nephi's council scheduled an Oct. 6 hearing and a resolution on restructuring an interfund loan. The public notice doesn't say which loan. The city's fiscal 2025 audit shows the natural gas fund holding a $415,665 receivable from governmental activities.
Budgets, reserves and taxes
Nephi council raises property tax rate to 0.001031 on 4–1 vote, citing new police station
The council voted 4–1 on Aug. 18 to raise the city's property tax rate and adopt the final fiscal 2027 budget. City staff tied the increase to a new police facility and patrol staffing. The council's Oct. 6, 2026 agenda listed alternative funding options for the station.
Contracts and spending
Nephi approves buying two lots for pump track park. The minutes give no price.
The council unanimously authorized the mayor on Sept. 15 to sign a contract for two Jamestowne subdivision lots next to the planned pump track park. The minutes say five residential impact fees were waived to bring the price down, but they list neither the price nor the value of the waivers.
Audits and compliance
Nephi's fiscal 2025 audit flags justice court reconciliations and corrects a 2024 error
Nephi's auditors found the city's justice court trust account was not reconciled monthly in part of fiscal 2025. The same audit restated the city's starting net position by $316,870 to correct a 2024 receivables error.