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Audit shows positive net position for Emigration Canyon; council seeks clarity on allocations and billing
Summary
Audited financial statements covering Jan–Jun 2024 show the Emigration Canyon net position at roughly $4.2 million and a $66,870 operating surplus for the canyon; council asked staff to clarify intergovernmental billing and overhead allocation methods.
An audit presentation covering the district’s shortened fiscal year (Jan. 1–Jun. 30, 2024) showed Emigration Canyon with assets of about $4.4 million, liabilities around $215,000 and a net position of roughly $4.2 million. The district’s revenues and expenditures for the canyon were reported as $446,000 and $379,000, respectively, producing a $66,870 surplus that increased the canyon’s fund balance from $133,000 to $199,000.
Stuart, the auditor presenting the report, told the council…
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