SALT LAKE CITY (ABC4) – Utah’s fiscal year for 2021 is ending strong as government leaders announce a surplus that will be carried into 2022.
State leaders announced on Tuesday that they will have an additional $614 million to appropriate during the 2022 General Session.
The funds are likely an “anomaly due to federal stimulus money and economic volatility,” a press release says.
Gov. Spencer J. Cox, President J. Stuart Adams and Speaker Brad Wilson issue the following statement regarding this surplus:
“Utah’s economy is thriving, and education funding is at an all-time high due to our state’s sound economic policies, including our effort to safely and quickly reopen businesses during the pandemic. While this is an unusual year, as the state received unparalleled stimulus money from the federal government, we remain committed to fiscal responsibility and funding forward-thinking and innovative projects. The investments we make now will benefit Utahns for generations to come.”
The Legislature says the funds will be spent with “careful emphasis on fiscal responsibility, including the use of one-time money on one-time costs such as investments in infrastructure and capital improvements.”
