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Show Tax Study Group Submits Report ' Summarizing State Finances ! Estimated expenditures by the state of Utah for the biennium ending June 30, 1949 will exceed estimated income for the same period by $7vi million, according to a research report summarizing state finances released by Utah Foundation today. Expenditures for all functions of state government, govern-ment, plus state grants to local government will total approximately approximate-ly $127,800,000, based upon a compilation com-pilation of budget and expenditure estimates of the various administrative adminis-trative agencies. Income from all sources for the current biennium will total $120,300,000. The report states that expenditures expendi-tures and commitments authorized for 1950-1951 will also exceed current cur-rent income for that period. Total expenditures based upon depart-appropriations depart-appropriations will amount to $128,395,000, with current revenue from all sources estimated at $124,710,000. These figures include $5. 400. 000 which will be transfer- 8 . tion of local roads. It is estimated that $5,000,000 will be available to the cities and counties from this source in the next two years. The total appropriations made by the 1949 Legislature from all funds amount to $47 million. Only 37 per cent of Utah state expenditures are controlled by legislative appropriations. The remaining re-maining 63 per cent or $80l2 million mil-lion is made up by Federal grants-in-aid, departmental collections, interest, in-terest, rental, and other receipts earmarked for expenditure by the respective departments without specific appropriation by act of the Legislature. The hand of the Federal government gov-ernment in state government functions func-tions continues to grow the report re-port shows. Federal grants-in-aid totaled $13,700,000 in 1946-1947, mounted to $21,100,000 for 1948-1949, 1948-1949, and will reach $23,200,000 in 1950-1951. red to the Building Reserve from the sales tax fund, $2 million of which will come from the carryover carry-over balance. According to Utah Foundation analysts, the gap between income and expenditures will be met by depleting fund balances. The Highway High-way Department began the biennium bien-nium with a balance of $2,063,000, all of which will be spent by the end of the period. The general fund balance at the close of the current biennium will be $100,000 less than at the beginning begin-ning of the period, July 1, 1947. The welfare Department began the 1948-49 biennium with a carryover carry-over of $1,177,000, none of which will remain at the close of J:he 1949 fiscal year. The sales tax fund had a balance July 1, 1947 of $8,205,000 from which the Legislature Leg-islature in 1947 provided for transfer trans-fer to the Building Reserve Fund of amounts exceeding a $5,000,000 reserve. If departmental estimates prove accurate, carry-over balances bal-ances will also be depleted in Aeronautics, Aero-nautics, Department of Publicity, Public Health, and school funds. In addition, the working capital fund of the Centennial Commission which was returned to the general fund will have been expended to meet general fund obligations. Other highlights of the Utah Foundation report are: Present estimated expeditures for the 1948-1949 biennium exceeded exceed-ed advance estimates made two years ago by nearly $16,000,000, while revenues exceeded advance estimates by nearly $19,000,000. Sales tax revenues are $5 million more than was estimated at the outset of the current biennium, individual income tax is up $2,100,-000, $2,100,-000, and corporation franchise taxes tax-es $1,100,000 more than advance estimates. For the 1950-1951 biennium, tax revenues of the general fund are estimated at $12,160,000. A transfer trans-fer of $4,000,000 will be made from the sales tax revenue to the gen- eral fund and $54,000 from other funds. These amounts, plus a carry-over balance of approximately $1,500,000 will make a total available avail-able for general fund expenditures of $17,714,000. Legislative appropriations approp-riations from this' fund totaled $18,731,269. However, the Governor Gover-nor by line veto reduced this a-mount a-mount by $2,892,000. making total approved appropriations of $15,-839,269 $15,-839,269 from the general fund for the 1950-1951 fiennium. Funds available for welfare programs pro-grams will total $22,810,000 for 1950-1951, of which $14,000,000 is state money and $8,800,000 will come from Federal aid. The total is $3,600,000 less than welfare expenditures ex-penditures for the current biennium. bien-nium. Welfare institutions will spend an estimated $3,250,000. Estimated expenditures, from state funds for education will total $46,500,000. Junior and senior colleges col-leges will spend $16,100,000 of this with $15,800,000 in 1948-1949. There will be available for highway high-way construction, maintenance, and administration $23,100,000. Of this amount $13,900,000 will come from motor fuel taxes and $9,200,-000 $9,200,-000 from Federal aid. The entire proceeds of the Motor Vehicle Registration Fund was allocated by the 1949 Legislature to cities and counties for contruc- |
