September 19, 2013

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Utah Ends FY13 with $242 Million Surplus

Press Release

September 19, 2013

Salt Lake City — Utah Gov. Gary R. Herbert today announced today that Utah ended Fiscal Year 2013 with a revenue surplus of $242 million, all in education funds (EF).

“Utah’s steady economic progress is evident on several fronts—job creation, a dropping unemployment rate, and additional revenues for the State,” Herbert said.

More than twice the Fiscal Year 2012 surplus ($99 million), this year’s surplus is the result of taxpayers accelerating income into calendar year 2012, which is the state’s Fiscal Year 2013, to avoid higher federal tax rates in calendar year 2013.

From the surplus, approximately $120 million will be transferred to the Education Fund Budget Reserve Account, known as the Education Rainy Day Fund.  After automatic transfers, an extra $122 million in one-time monies will be available to appropriate in the 2014 General Session of the Utah State Legislature.

With the statutory transfer from surplus and additional appropriated funds, the combined GF/EF Rainy Day Fund balance is now over $400 million, up from $277 million last year.

Utah Business Social
UB Events View All
Forty Under 40 - 2015Utah Business Event
Feb 26, 2015
Utah Business Magazine along with Presenting Sponsors: Kirton McConkie, BIG-D Construction and Ma...
CEO of the YearUtah Business Event
Mar 20, 2015
Utah Business magazine and Presenting Sponsors: Holland & Hart and Newmark Grubb ACRES, Premier S...
30 Women to Watch 2015 - NOMINATIONS NOW OPENUtah Business Event
May 31, 2015
NOMINATIONS NOW OPEN! Visit: www.utahbusiness.com/nomination_items Questions: heather@utahbusi...
Community Events View All
Secrets to Financing Your Business
Feb 3, 2015
Join us for a complimentary educational presentation SECRETS TO FINANCING YOUR BUSINESS Sponsor...
Linux LPIC-1 Exam Prep Course 1
Feb 4, 2015
Wednesdays, 01/14/15 - 02/25/15 Designed to provide the essential skills needed to be profici...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel