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

Executive Living
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
Health Care HeroesUtah Business Event
Oct 21, 2014
Please join us, along with our sponsors, MountainStar Healthcare, and Roseman University in honor...
Content Marketing BootcampUtah Business Event
Oct 28, 2014
Please join Utah Business Magazine and Adobe, along with our other sponsors: Boostability, Right ...
Sustainable Business Awards 2014Utah Business Event
Nov 13, 2014
Utah Business magazine along with presenting sponsor Big D Construction, is pleased to announce t...
Community Events View All
Leadership Excellence Course
Oct 1, 2014
Leadership Excellence Course coming to Salt Lake City. Course graduates qualify for continuing ed...
BOMA Fall Education Summit
Oct 2, 2014
We are excited to host our first annual Education Summit. This year, we have twelve (12) session...

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