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Senate receives updated revenue projection: $8.7M one-time gain now, but FY94 shows small shortfall

Utah State Senate · February 16, 1993

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Summary

Senate fiscal staff reported a revised revenue estimate on Feb. 15: an $8.7 million one-time increase available in the current fiscal year, but a projected $3.3 million decline in the general fund for FY1993'94. Senators were advised to hold current budget figures and use minor adjustments to preserve supplemental capacity.

Senate analysts briefed members on updated revenue estimates on Feb. 15. The floor was told that stronger-than-expected Christmas sales pushed the current fiscal year'end general fund up by about $11 million in sales-tax receipts but that declines in other receipts net to roughly $8.7…

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