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Show Says Utah Foundation Slowdown, inflation hurt Utah economy Utahs Although not expected to keep pace with the demand for increased expenditures in the years ahead. Moreover, there is also a likelihood of a reduced proportion of federal aid coming to Utah during the 1980s. Thus, state and local governments will increasly have to solve their problems with their own resources in the period ahead and not rely as much on help from Washington. In addition, Foundation analysts list the economy is expected to grow substantially in the 1980s, state and local governments are likely some to encounter serious financial problems. This is the conclusion of the Utah Foundation in a study of state and local financial prospects for the decade ahead. Whiles tax revenues will continue to rise with economic growth and inflation, the Foundation indicates that they are in Utah will on dramatically following factor that during the next ten place added strain local finances and years. This will increase state the need for new school in the 1980s: New spending pro- construction and for grams were started when greater school operating the initiative proposals to be voted on in November are approved, Utahs financial long-rang- e outlook would be further jeopardized. The Foundation study surplus funds were expenditures. Unlike the private points out that there has available. If these probeen a general legislative grams are continued, ad- sector where greater ded costs may be required. State and local units are left with the responsibility for funding some of the programs originally started with federal volume usually results in lower unit costs through economics of scale, unit costs for govern- policy to reduce governmental dependence on the property tax in Utah during the past ten years. As a result, the proportion of state and local revenue derived from the property tax ment tend to rise with increased growth and higher population density. Instead of balances aid. Federal revenue shar- and surpluses that ex- has been declining. In addition to the ing may be trimmed for isted throughout most of r is state the property tax, highway-uselocal units and eliminat- the 1970s, taxes, alcoholic ed altogether for the entering the 1980s with taxes, and shortrevenue serious beverage state. miscellaneous taxes are State and local units ages. will be faced with sharpTighter credit restric- producing a smaller proof the state and ly higher federal Social tions and high energy portion local tax total than they slowSecurity costs in the costs are causing a down in state revenue did ten years ago. On the 1980s. other hand, the sales and School enrollments growth. If either or both of use tax, the income tax, are projected to increase and the unemployment tax have grown in relative importance. It was also noted that the percent greater than the U.S. average. In 1978, the relative state and local tax burden in Utah Nephi, Utah Oct. 9,1980 8 t vwmwwmmb "Nephi's Family Theatre" , !' I',,, a y- - ('A, b tS by many of the other states during this period. Foundation analysts note that in 1970, Utahs relative state and local tax burden was 3.2 percent above the Mountain States average and 10.1 s average and 0.6 percent under the U.S. average. 1 1 1 from inflation. State and local tax collections in Utah climbed by 177 percent between 1970 and 1979. Despite this substantial rise in tax collections, the increase has not been as great as that experienced Times-New- the Mountain States && " Venice Theatre taxpaying capacity of individuals and businesses has been reduced by reason of federal income tax increases resulting The was 3.7 percent below ...Walt. s Disney SuHLgufeSmnoHn ThllLMIOMMl by 8UCNA VISTA DISTRIBUTION CO MC u Now Playing Re-Ele- ct An Experienced Leader Senate District 28 covers 1 6, 830 square miles and has approximately 46,600 citizens. Only the most effective and son. The oiminal. experienced legislator in the Utah Senate can protect your E3v interests and make your Shoplifting is a crime. view- points heard. If you're arrested for shoplifting, your record goes on file with the Bureau of Criminal Identification. Give yourself a break. If you want An Effective Legislator something pay for it. So you won't have to pay for it the rest of your life. Stott Senate District No. 21 Shoplifters pick up a record, too. FOR UTAH COMMITTEE ... .qF-RS:-- , NEPHI CITY CORPORATION COMBINED Super Sport VITAMIN BALANCE SHEET - ALL FUNDS SUNNY MAID NATUftALOtUNNPUVOft CHEWABLE- STRESS - COMPLEX WITH IRON GENERAL OTMtXTO 2.99 FIXED ASSETS NATURAL Water solubilized B-- 1 ZINC VITAMIN 1M IMfMLfTB TAOLCTO GARLIC OIL I.U. CAPSULES C COMMM WITH UV UVt POTENCY HAND & BODY LOTION A. B-5- 1SSTAOUTO ASCORBIC 3.36 C ACID POWDER natural d 1-8- 7 VITAMIN VAIU RFATER MART PHARMACY WE ARE ON OUR 2ND BUS -- DAY LIABILITIES, RETAINED TOUR December 26 thru January 7 Grand Marshall: Frank Sinatra Featuring: Deluxe Greyhound charter coach First class motel accommodations Baggage handling Reserve seat at Rose Parade Bui Lunch at parade Catalina Island all day tour New Year's eve Studios tour Universal San Diego Zoo Movieland Wax Museum harbor cruise Sea World $801,987 f -- FUND BALANCES Accounts payable Current portion of long-ter- m Customer deposits Accrued Interest payable Due to other funds Note payable to bank Deferred revenue Due to Juab County Bonds payable debt i liabilities Bonds payable -- Mission Bay Knotts Berry ride book Total fl Knotts Berry Chicken dinner las Vegas fun package liabilities balance retained earnings: Restricted fund balances: Class "C" road Collector road Statutory restricted Unrestricted fund balances: Unappropriated general Fund 270 West 500 Ik ,J fund balance PI0V0, OTAR mi; $45.00. Single JS4S.00. Triple $430.00. Try ov easy MT"W"t dm. Too nay $75.00 hy0ctl5thandftarwtuthrvooal M ky December 15th. Far further payments, lalance due md an itinerary, contact the Provo Seemr Ctuem's Center. Compare and find out the difference. H i north iC The escorts for this tour arc Andy and Cara Anderson. The driver of the bus ml be Trevor James. SF-MO- 483,178 EARNINCS Total current from si the snow art This is the time sf the year ts g't ice and really enjoy something nxe. kke a ten day tow to sunny California and aid Mexico. Total cost per person, dauMe ar hr ITAII distribution and San Diego banquet Lunch at Cedar City 11 1. 25,252 46,446 247,111 -- 0- disposal aystem Machinery, equipment & improvements Accumulated depreciation Investment Irrigation Co. (3shares) HURRY CALIFORNIA touch of old Mexico Ensenada, Mexico overnight Buildings Airport Landfill Waterworks system Sewer collection and ROSE PARADE AND SOUTHERN A $ system Provo Senior Citizens 10 Industrial Park lots for sale Land Electric transmission Nephi, Utah 656 North Main Total current assets DOLOMITE a 6.49 1.49 0 NTAKITa 2.89 VITAMIN VITAMIN E E BALANCED MULTIPLE VITAMIN S MINERAL 2.97 NUTRA-- 3.48 TIMED RELEASE S.N.R. DIET 300 mg TO C AND 2 tIOTAKfn ss, COMPLEX Cash 500 meg IMCAnulf. 1.69 B 1 B-- 400 ODORLESS WITH in city treasury: Unrestricted cash Restricted cash - Class "C" road Restricted cash - Collector road Payroll Pedestrian safety Perpetual care Accounts receivable from utility customers net of allowance for doubtful accounts Accounts receivable government units Mortgage receivable Due from other funds ,1.69 .97 ; 1 ASSETS 30 mg 100 mg CITIZENS ELCOME Contribution from other fund Retained earnings Investment in fixed assets $801,987 $801,987 The accompanying notes are an integral part of the financial statements. |
