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MSD audit shows Brighton holding strong reserves; council asks for breakout of resort funds
Summary
MSD director of finance presented audited 2023 financial statements showing assets exceeded liabilities by $34.8M district-wide; Brighton's unrestricted fund balance was reported at roughly $3.8M. Council asked for a clearer breakout of tourism/resort funds versus MSD budget items.
Stuart Nicole, director of finance for the Greater Salt Lake Municipal Services District (MSD), reviewed the 2023 audited financial statements and told the council the district's net position exceeded liabilities by about $34.8 million, up roughly $4.1 million from 2022.
Focusing on Brighton, Stuart said the town had…
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