Salt Lake Telegram | 1937-08-21 | Page 9 | State Surplus Shrinkage Seen

STATE SURPLUS SHRINKAGE SEEN General Fund Falls Below Last Year . Utah's state government will close the Current fiscal year with a general gen-eral fund surplus of f 1,252.821, which is mor than $1,000,000 less than the surplus at the start of ths year on July 1, Budget Director E. R. Miles advised Governor Henry H. Blood Saturday. Figures on th prospective surplus sur-plus are based on estimated revenue reve-nue of $2,759,660 before next June 30. Mr. Mile said. The surplus t clone of the last fiscal year stood at 2,285,032 after excess funds from the sales tax, district school fund. Inheritance tax and liquor control revenue had been transferred to the state general fund under authority of an opinion from Attorney General Joseph Ches. Indications are. however, that free-handedness with which the last legislature allocated state funds will reduce this surplus by $1,000,000 before next June 30, it was explained. ex-plained. Experiences in past years have indicated that figures on estimated revenues are mad quit conservatively, conserva-tively, however. Last year, for Instance, estimated revenues were only $2.237. 10, while tax collection touted $2,784,374.