Utah may have small surplus

Hopes have been raised at the release of a fiscal year-end report showing that Utah has a small surplus in all three funds. But Senator Lyle Hillyard, R-Logan, co-chairman of the legislature’s Executive Appropriations Committee, says he is cautiously optimistic. On his blog Senate website, Hillyard said he has learned through the years that the only report that counts is released near the end of August which shows 95 percent of the cash flow and includes the entire year-end adjustments. Hillyard says until we know the remaining five percent of revenues, along with adjustments and expenditures, it is too soon to declare a surplus. If there is a surplus, Hillyard says, there will be many urgent requests for the money.

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