January 2025 Archive
The Budgeting Balance: Revenues, Requests, and Reality
In December, Legislative economists provided updated revenue estimates to the Executive Appropriations Committee, along with a summary of how current spending and statutorily required and recommended revenue set asides paints a narrow margin for new spending during the General Session. As discussed last week, recent trends in collections are likely attributable to timing, and February’s […]
Now You See Me: The Illusion of Revenue Timing
A quick glance at the December Revenue Snapshot shows a relatively bleak picture of year-to-date (YTD) state revenue collections, particularly for Income Tax Fund (ITF) collections which indicated a -4.3% year over year (YoY) growth rate as of the date of the report. With what may appear to be a sleight of hand, a second […]
Fiscal Notes 101
Loyal readers of budget.utah.gov may recall this post from last month, summarizing the latest technology upgrades for the Fiscal Note system (FiNS). As a reminder, FiNS is the vehicle for drafting the very popular financial impact analyses that are attached to every piece of proposed legislation. In preparation for for the upcoming General Session, the […]