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Utah state budget (2008-2009)
| Note: This article was last updated in 2009. Click here for more recent information on state budgets and finances. |
Utah closed a $1 billion budget gap for fiscal year 2009. The Center on Budget and Policy Priorities estimated a $720 million budget gap for fiscal year 2010.[1]Utah closed the FY 2009 budget gap.[2]For FY 2010, lawmakers reduced state spending by about 9 percent on average.[3]
Budget background
- See also: Utah state budget and finances
Utah's fiscal year begins July 1 and ends June 30 of the following year. Every year the state's agencies submit budget requests along with past expenditures and allocations. Usually by December, the governor develops a budget recommendation, which is then delivered to the legislature. Following a series of hearings and discussions the Senate and the House make any necessary changes before approving the final bill. Once the appropriations bills are debated and the legislature as a whole passes them, the bills are signed by the governor.[4]
- In March 2008 the American Legislative Exchange Council (ALEC) presented a report, Rich States, Poor States, that stated that Utah's low taxes and controlled spending meant it was primed for prosperity. "The economic growth really, really shows that limited government and low taxes are the way to prosper in this world," said Jonathan Williams, ALEC's director of tax and fiscal policy task force and co-author of the report.[5]
Budget figures
The following table provides a history of Utah's expenditures and gross domestic product (GDP).
| Fiscal year | Expenditures (billions) | GDP (billions) |
|---|---|---|
| 2000 | $13.0[6] | $67.6[6] |
| 2001 | $14.3[6] | $70.1[6] |
| 2002 | $15.5[6] | $72.7[6] |
| 2003 | $16.1[6] | $75.4[6] |
| 2004 | $16.7[6] | $80.9[6] |
| 2005 | $17.3[6] | $88.9[6] |
| 2006 | $18.5[6] | $98.0[6] |
| 2007 | $19.9[6] | $105.7[6] |
| 2008 | $21.3[6] | $114.0[6] |
| 2009 | $22.8*[6] | $122.9*[6] |
- NOTE: The figures for FY 2009 had not been finalized at the time this data was compiled.
See also
Footnotes
- ↑ Center on Budget and Policy Priorities, "State budget troubles worsen," March 13,2009
- ↑ Stateline.org, "Report: Utah first in economic competitiveness," March 18,2009
- ↑ Center for Public Policy and Administration, "Balancing Utah’s Budget in Tough Financial Times," March 25,2009
- ↑ Governor's Office of Planning and Budget, "Budget Process," accessed April 7,2009
- ↑ Salt Lake Tribune, "Report says Utah's economy ready to charge," March 17,2009
- ↑ 6.00 6.01 6.02 6.03 6.04 6.05 6.06 6.07 6.08 6.09 6.10 6.11 6.12 6.13 6.14 6.15 6.16 6.17 6.18 6.19 US Government Spending, "Utah State and Local spending," accessed April 7,2009
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