Herriman: water rights loan, water bonds and redevelopment
The Ledger's review of Herriman'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 Herriman: what the city's latest audit and budget records show
A facts-only review of Herriman's money, starting with the audited financial statements for the year ended June 30, 2025, and the two-year budget the City Council adopted in June 2026.
Read the explainer →Key figures
- $36.8 millionFiscal 2027 General Fund budgetAuditing Herriman: what the city's latest audit and budget records show →
- $73.4 millionRevenue bonds outstanding at June 30, 2025Auditing Herriman: what the city's latest audit and budget records show →
- $7.6 millionWater-rights loan replaced Aug. 26, 2026, for unsold Auto Mall landHerriman replaces $7.6 million water-rights loan as Auto Mall land stays unsold →
- $28.9 millionWater bond proceeds in the FY2027–FY2028 budget, not yet approved for issuanceHerriman budget lists $28.9 million in water bonds that still need council approval →
- $4.6 millionRedevelopment agency tax increment distributions, fiscal 2025Herriman's redevelopment agency paid developers and two foundations in fiscal 2025 →
- $512,970Added revenue from the safety district's rate above certifiedHerriman safety and fire districts adopt tax rates above certified levels →
- $841,970FY2028 police budget increase in the budget book, vs. about $23,000 in minutesHerriman's adopted budget and minutes give different police and redevelopment figures →
- $7.42 millionPaid to OLYMPIA LAND LLC, the city's largest payee in FY2026, as reported to the stateTransparent Utah: Herriman City highest-paid vendors FY2026 →
Debt and bonds
Herriman budget lists $28.9 million in water bonds that still need council approval
The two-year budget includes bond proceeds for water projects, but the finance director told the council that issuing them would take a later vote. In August the council also set limits for a possible refinancing of existing sales tax bonds.
Herriman replaces $7.6 million water-rights loan as Auto Mall land stays unsold
The City Council approved a new two-year loan from the city's water rights impact fee fund in August to carry a 2020 land loan that had expired. City reports have listed three different due dates for the original loan.
Redevelopment money
Herriman's redevelopment agency paid developers and two foundations in fiscal 2025
The city's audited statements list what the redevelopment agency paid each company, foundation and taxing agency under its agreements in the year ended June 30, 2025, and the caps on those agreements.
Budgets, reserves and taxes
Herriman's adopted budget and minutes give different police and redevelopment figures
The adopted budget book shows the police budget rising $841,970 in fiscal 2028, while the minutes of the adoption meeting describe it as nearly flat. A redevelopment fund's balance table repeats another fund's figures.
Herriman safety and fire districts adopt tax rates above certified levels
The boards of two special districts that fund Herriman's police and fire service, made up of the city's elected officials, voted unanimously in August to levy property tax rates above the certified rate.
Contracts and spending
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