Auditing Park City
The Ledger's review of Park City's budgets, audits, debt, redevelopment money and officials' disclosures. 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 Park City: a public-records look at the city's finances, FY2019–FY2025
The Ledger is reviewing Park City's budgets, annual financial reports, debt, audits and redevelopment funds, citing only official records.
Read the explainer →Key figures
- $17.4 millionUnassigned general fund balance, June 30, 2025Park City's general fund reserve stayed under the state maximum in each year from FY2019 to FY2025 →
- $18.4 millionState maximum general fund balance, FY2025Park City's general fund reserve stayed under the state maximum in each year from FY2019 to FY2025 →
- $243.9 millionTotal long-term debt, June 30, 2025Park City's long-term debt was $243.9 million at June 30, 2025, down from $281.9 million two years earlier →
- $54.0 millionGeneral obligation bonds outstanding, June 30, 2025Park City's long-term debt was $243.9 million at June 30, 2025, down from $281.9 million two years earlier →
- $894.3 millionLegal debt limit, FY2025Park City's long-term debt was $243.9 million at June 30, 2025, down from $281.9 million two years earlier →
- $11.8 millionCombined RDA fund balances, FY2024Park City's four redevelopment agency funds held $11.8 million at the end of FY2024 →
- $15 millionDeer Valley commitment, matched by the city, approved Nov. 18, 2025Deer Valley's Snow Park financing, 2024–2025: a tax increment request removed, three infrastructure districts created →
- $292.9 millionFY2026 total budget, all fundsAuditing Park City: a public-records look at the city's finances, FY2019–FY2025 →
Debt and bonds
Park City's long-term debt was $243.9 million at June 30, 2025, down from $281.9 million two years earlier
Annual reports show total long-term debt of $243,859,075 at the end of FY2025, of which $54.0 million is general obligation debt, against a legal debt limit of $894.3 million.
Redevelopment money
Deer Valley's Snow Park financing, 2024–2025: a tax increment request removed, three infrastructure districts created
Council minutes show a community reinvestment area item pulled in November 2024, three public infrastructure districts created in March 2025, and a $15 million city match approved in November 2025.
Park City's four redevelopment agency funds held $11.8 million at the end of FY2024
The city's FY2026 budget volume lists fund balances for the Lower Park Avenue and Main Street redevelopment funds, which rose from $7.6 million in FY2022.
Contracts and spending
No story in the series on this yet.
Audits and compliance
Park City's financial statements drew an unmodified audit opinion every year from FY2019 to FY2025
Three audit firms signed the opinions over seven years; the FY2025 report was dated Dec. 17, 2025, and the council received it on Dec. 18.
Other findings
Park City's general fund reserve stayed under the state maximum in each year from FY2019 to FY2025
The city's unassigned general fund balance reached $17.4 million at June 30, 2025, below the $18.4 million maximum stated in the city's annual report.