Auditing Lake Point
The Ledger's review of Lake Point'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.
Start here
Auditing Lake Point: What the young city's first audits show
Lake Point, incorporated in 2022 in Tooele County, ended fiscal 2025 with $918,157 in its General Fund and $856,712 in a new Capital Projects Fund. Its auditor gave an unmodified opinion and reported four findings.
Read the explainer →Key figures
- $2,244,598General Fund revenue, fiscal 2025Auditing Lake Point: What the young city's first audits show →
- $918,157General Fund balance at June 30, 2025Auditing Lake Point: What the young city's first audits show →
- $856,712New Capital Projects Fund balance, June 30, 2025Auditing Lake Point: What the young city's first audits show →
- 4 findingsAudit findings in fiscal 2025 reportLake Point's fiscal 2025 audit lists four findings, including combined fund records →
- $148,769General Fund spending over appropriations per Note 7Lake Point's fiscal 2025 audit gives General Fund spending over budget as $148,767, $148,769 and $152,933 →
- $662,124Audited 2025 sales tax vs. $536,977 labeled actual in draftsLake Point's June 2026 budget drafts: the "2025 Actual" column matches the audit's 2025 final budget →
Budgets, reserves and taxes
Lake Point's fiscal 2025 audit gives General Fund spending over budget as $148,767, $148,769 and $152,933
Lake Point's fiscal 2025 General Fund spending exceeded its final budget, according to its audit. The report gives the excess as $148,767 in the finding, $148,769 in a note and the management discussion, and $152,933 in the budget schedule.
Lake Point's June 2026 budget drafts: the "2025 Actual" column matches the audit's 2025 final budget
The "2025 Actual" column in Lake Point's June 2026 budget drafts matches the final fiscal 2025 budget figures in the city's audit. Sales tax, for example, appears as $536,977 in that column; the audit reports $536,977 budgeted and $662,124 collected.
Contracts and spending
No story in the series on this yet.
Audits and compliance
Lake Point's fiscal 2025 audit lists four findings, including combined fund records
Lake Point's fiscal 2025 audit found the General Fund and Capital Projects Fund had been combined in the city's records, requiring material adjustments, and reported three budget-law findings. One section of the report says no significant deficiencies in compliance controls were identified.