Auditing Eagle Mountain
The Ledger's review of Eagle Mountain'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 Eagle Mountain: a facts-only look at the city's public finance records
The Ledger is reviewing Eagle Mountain's budgets, audits, debt, redevelopment areas and legal disputes using published records, and reports only what those records state.
Read the explainer →Key figures
- $18.1 millionEagle Mountain general fund balance at June 30, 2025Eagle Mountain's general fund balance rose from $12.4 million to $18.1 million between fiscal 2024 and 2025 →
- $778.5 millionTax increment budgeted for Sweetwater CRA #4Eagle Mountain's data-center redevelopment areas: a $778.5 million increment budget for Sweetwater area 4 →
- $1.13 millionLoss reported from August 2022 email-impersonation fraudEagle Mountain reported a $1.13 million payment-fraud loss from August 2022 →
- $2.13 millionAdditional property tax revenue at the 0.000900 rateEagle Mountain council set, repealed and reset its 2026 property tax rate in August →
- $2.4 millionGeneral fund balance over the 35 percent limit, fiscal 2023Eagle Mountain audits, fiscal 2019-2023: clean opinions and repeated state budget findings →
Debt and bonds
Eagle Mountain's general fund balance rose from $12.4 million to $18.1 million between fiscal 2024 and 2025
The city's annual reports show the general fund balance and the outstanding sales tax revenue bonds, revenue bonds and special assessment bonds at June 30, 2024 and 2025.
Redevelopment money
Eagle Mountain's data-center redevelopment areas: a $778.5 million increment budget for Sweetwater area 4
Since 2021 the city has approved tax-increment agreements and data-center development agreements; the area 4 budget noticed in December 2025 lists $778,540,678 in increment from five taxing entities.
Contracts and spending
No story in the series on this yet.
Audits and compliance
Eagle Mountain audits, fiscal 2019-2023: clean opinions and repeated state budget findings
Council minutes record unmodified financial opinions from the city's auditor for fiscal 2019 through 2023, along with state compliance findings on spending over budget and, for three of those years, general fund balance above the limit.
Other findings
Eagle Mountain council set, repealed and reset its 2026 property tax rate in August
The council approved a higher city property tax rate on Aug. 6, 2026, residents filed a referendum application, and on Aug. 18 the council repealed that rate and approved 0.000900.
Eagle Mountain reported a $1.13 million payment-fraud loss from August 2022
The city's October 2024 release says an email impersonation scheme in August 2022 cost $1.13 million, with $400,000 recovered so far, and announced a settlement with its construction contractor.
A lawsuit filed in 2026 challenges the city's use of the Eagle Mountain rodeo grounds
FOX 13 reported in March 2026 that the Eagle Mountain Founders Group sued over the rodeo grounds; the city denied the claims.