Naples: fund balance, street bonds and storm drainage loan
The Ledger's review of Naples'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.
Start here
Auditing Naples: What the city's audit and budget say about its money
Naples, in Uintah County, ended fiscal 2025 with $15.2 million in its governmental funds, an unmodified audit opinion and no general obligation debt. Its fiscal 2027 budget sets the general fund at $3.66 million and the road capital fund at $3.27 million.
Read the explainer →Key figures
- $15.2 millionGovernmental fund balances, June 30, 2025Auditing Naples: What the city's audit and budget say about its money →
- $3.66 millionFiscal 2027 adopted general fund budgetAuditing Naples: What the city's audit and budget say about its money →
- $875,018General fund balance above the 35% legal maximum, FY2025Naples' fiscal 2025 audit reports a general fund balance $875,018 above the state maximum →
- $1.5 millionBond principal ceiling for 2500 SouthNaples sets a $1.5 million ceiling on bonds for 2500 South street project →
- $1.8 millionPreliminary 2000 East cost estimate vs $1.65M budgetNaples' 2000 East project estimated at $1.8 million against a $1.65 million budget →
- $923,0002024 storm water bond at 0.50%Naples borrowed $923,000 at 0.5% for storm drainage work →
Debt and bonds
Naples sets a $1.5 million ceiling on bonds for 2500 South street project
Naples' council adopted a parameters resolution in July for up to $1.5 million in street improvement revenue bonds for 2500 South, at no more than 2% interest over no more than 10 years. The fiscal 2027 budget lists $3,228,000 for the widening, funded by a $2,259,000 grant and a $969,000 loan.
Naples borrowed $923,000 at 0.5% for storm drainage work
Naples' fiscal 2025 audit lists a $923,000 storm water bond at 0.50% interest maturing in 2044. The city's budget records show the loan alongside a $2.5 million CIB grant and $3.1 million spent on drainage projects in fiscal 2025.
Redevelopment money
Naples starts process to join a Utah Inland Port Authority project area
The Naples council voted 4–0 in August to adopt a resolution to create a Utah Inland Port Authority project area in the city. A port authority official called it the first step, with a public hearing to come before final approval.
Contracts and spending
Naples' 2000 East project estimated at $1.8 million against a $1.65 million budget
An engineer told the Naples council in August that the 2000 East project's estimated cost was $1.8 million against a $1.65 million budget. The council asked for the cost of a continuous sidewalk on the west side before bids go out.
Audits and compliance
Naples' fiscal 2025 audit reports a general fund balance $875,018 above the state maximum
Naples' fiscal 2025 audit reports one compliance finding: the city's unrestricted general fund balance exceeded the 35% maximum in state law by $875,018. The city said it would adopt the auditors' recommendation.