Show 1 Utah Financial Post ion Listed As Good Although state expenditures have exceeded current revenue revenue reven reven- ue receipts in four out of the past five Utah's financial financial financial fi fi- condition still is good This point was brought out in a current analysis of Utah's financial condition by Utah Foundation the private governmental governmental governmental gov gov- research organization tion The Foundation report involves an extensive reclassification reclassification reclassification and analysis of basic revenue and expenditure data from a number of state departments departments depart depart- ments and agencies The reclassification reclassification reclassification re- re classification was made according according according ac ac- ac- ac cording to standards and guidelines established by the governments division of the US U.S. Bureau of the Census The study observes that Utah is one of only nine states with no bonded general In in- At the close of fiscal fiscal fiscal fis fis- fis- fis cal 1962 the other 41 states had a total term long-term general debt of billion an amount to for everyman every everyman everyman man woman and child living in the nation According to the Foundation report it has been the deliberate deliberate deli deli- berate policy of the Legislature Legislature Legislature Legisla Legisla- ture and the State Administration Administration Administration Adminis Adminis- during the past decade to meet necessary expenditure requirements by utilizing the fund balances and surpluses in lieu of new taxes wherever possible For the most part these fund balances and surpluses surpluses surpluses sur sur- pluses were during during during dur dur- ing and after World War II when state spending was held In check while Inflationary forces provided expanded tax and revenue receipts Foundation analysts warn however that the period of living off our own fat has come to a close There were few uncommitted fund bal bal- balances balances ances antes and reserves remaining at the end of the 63 1961 bien- bien As a result future expenditure expenditure expenditure ex ex- boosts that cannot be financed through normal economic and revenue growth will have to be met by corresponding corresponding corresponding cor cor- responding tax increases State expenditures in Utah exceeded state revenue by million last year according according accordIng accord- accord Ing to the report State spending spending spend spend- ing totaled and revenue receipts amounted to For the 63 1961 biennial period state expenditures were million In excess of current state rev rev- Approximately 45 per cent of all state expenditures in Utah are now going for education education education edu edu- cation the report continues Last year the state spent 1108 million for higher education edu edu- ed education cation state and f for r local schools and other educational education education- al purposes Not included inthe In Inthe inthe the above total are the local funds spent for education With local education expenditures expenditures expenditures expendi expendi- tures included the total amount expended for education education education tion in Utah last year was approximately million i The study points out that f the State had spent nearly Ii half hill a billion dollars on capital capital capi- capi t tal outlay including the expanded expanded ex ex- highway construction I program since the end of t f World War II Between 1946 E and 1963 capital outlay expenditures expenditures expenditures by the state government government government govern govern- ment in Utah amounted to f million Nearly two f thirds of this outlay ihas has 0 occurred occurred oc- oc f in the past six years Foundation analysts note that these capital outlay totals are for state funds only and do not include capital outlay I expenditures from local funds For example since the end of World War II local school districts In Utah spent approximately approximately approximately ap ap- proximately million for capital outlay over and above the amounts provided from from state funds |