State leaders announce forecast of Utah’s 2019 fiscal year numbers
SALT LAKE CITY – Utah lawmakers announced their forecast for fiscal year 2019 Tuesday.
According to a statement made by the Utah House of Representatives, Utah’s prosperous economy has allowed more revenue for the state.
The revenue forecast shows an increase of $101 million in one-time funds, and $382 million in ongoing appropriations. That marks a large increase from the amounts Utah had available last year, which were $1 million in one-time funds and $283 million ongoing.
In total, Utah has at least $483 million in revenue for the 2019 fiscal year.
“Utah’s continued economic growth provides the revenues that will allow the State of Utah to make critical investments in our long-term future, including education,” said Governor Gary Herbert.
The Office of Legislative Fiscal Analyst presented the forecast to the Utah House of Representatives Tuesday. It recommended that the state use $67 million in ongoing and $85 million in one-time revenue to pay existing obligations.