August 2024 Archive
Refined Revenues: How Economists are Improving Collections Tracking
When conjuring a picture of the state’s budget, appropriations (authorized spending) and expenditures (actual spending) jump to the front of mind. However, both appropriations and expenditures hinge on revenues, both forecasted and collected. This flip side of the budget coin provides a unique challenge for policy makers, since revenues in the short term are largely […]
Belt-Tightening in Comfort: How the 2024 General Session Prepared Utah for a Deficit
In July we covered the Statewide Master Plan, a guide for state office space planning and investments. In that post, it was discussed how both the 2023 and 2024 General Sessions contingently put money towards the Plan, if certain revenue collections materialized. The shortfall in FY 2023 resulted in a rescinded $125.0 million appropriation. During […]
From Tariffs to Taps: Recent Updates from the Dept. of Alcoholic Beverage Services
In June, the Department of Alcoholic Beverage Services (DABS) opened the doors on its latest store, an upgrade for the Salt Lake City Downtown location which was considered out of date and undersized. This first ever two-story location featuring nearly 40 doors of refrigerated products is perhaps the latest example of the shift initiated by […]
The Reality of Realty: How the State is Investing in Affordable Housing
According to the Kem C. Gardner Policy Institute, average rental prices along the Wasatch Front climbed more than 20% from 2020 to 2021. While the State of Utah’s Housing Market Report (report) does note contraction in the housing market in 2023, the implications of interest rates and the pandemic on Utah’s housing market are enduring: […]