Auditing Magna
The Ledger's review of Magna'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 Magna: what public records show about the city's finances
The Ledger is starting a review of Magna's audits, budgets, redevelopment money and council actions, reporting only what the records say. Magna's finances are reported inside the Greater Salt Lake Municipal Services District's statements; here is the baseline and what the series covers.
Read the explainer →Key figures
- $14.5 millionMagna Fund 60 fiscal 2027 revenue budget (updated column)Auditing Magna: what public records show about the city's finances →
- $95,055Main Street landscaping invoice charged to Magna's redevelopment fundMagna redevelopment fund records $95,055 Main Street landscaping charge against a $50,000 budget →
- $98,100Redevelopment fund spending July–August 2026 vs. $50,000 full-year budgetMagna redevelopment fund records $95,055 Main Street landscaping charge against a $50,000 budget →
- $34.6 millionDraft upward correction to Magna's opening net position for unrecorded capital assetsDraft district audit adds $34.6 million in previously unrecorded assets to Magna's books →
- $9.26 millionMaximum value of the proposed 2810 South at 8000 West road agreementMagna council asked to co-sign $9.26 million federal road agreement that leaves overruns to local agencies →
- $1.9 millionDifference between the two fiscal 2027 Fund 60 budget columnsMagna's 2027 budget papers show two totals, and its August report a $90,000 gap →
Redevelopment money
Magna redevelopment fund records $95,055 Main Street landscaping charge against a $50,000 budget
Magna's financial report for July and August 2026 shows $98,100.02 charged to the redevelopment agency's "CRA Distribution" account, a line with no budget in fiscal 2027. Most of it is one Main Street landscaping invoice.
Budgets, reserves and taxes
Magna's 2027 budget papers show two totals, and its August report a $90,000 gap
Magna's June budget schedules list Fund 60 at $16,377,237 and an updated $14,513,185. The city's August financial report keeps $14,513,185 in revenue but shows $14,603,185 in budgeted spending, with a larger special-events line.
Contracts and spending
Magna council asked to co-sign $9.26 million federal road agreement that leaves overruns to local agencies
A resolution on Magna's Oct. 13 agenda would add the city to a UDOT agreement for the 2810 South at 8000 West realignment. The posted modification lists a $9,262,264 project value and says the local agency pays all overruns and ineligible costs.
Audits and compliance
Draft district audit adds $34.6 million in previously unrecorded assets to Magna's books
Draft fiscal 2025 statements for the Greater Salt Lake Municipal Services District correct Magna's opening net position upward by $34,565,111 for capital assets that had not been recorded. The draft compliance reports list a material weakness in asset tracking.