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State fiscal analysts report modest revenue increases for FY1997–98
Summary
A state fiscal analyst told the Utah Senate on Feb. 17–18 that revised revenue estimates show a modest one‑time increase for FY1997 and continuing increases for FY1998, with detailed line‑item changes across sales tax, severance taxes and permanent fund interest.
Leo Menet, the Legislature’s fiscal analyst, presented revised revenue estimates to the Utah Senate on Feb. 17, saying fiscal year 1997 shows about $3.1 million more to the general fund than the December estimate and fiscal year 1998 shows about $3.3 million more.
“This is my favorite day of the whole year,” Menet told senators as he distributed summary sheets and walked through changes by tax category. He said sales tax estimates rose for both years while various severance and inheritance tax lines were revised downward; a larger adjustment in the Uniform School Fund and other offsets produced a net increase of roughly $11.2 million across funds in FY1997 and $14.4 million for FY1998. Menet described the FY1997 increases as mainly one‑time and flagged FY1998 numbers as ongoing.
Senators questioned whether the revised estimates reconciled earlier differences with the governor’s office. Menet said he had discussed the numbers with Lynn Koga, the governor’s budget director, and understood the governor’s office would accept the updated figures. The presentation closed with a reminder that executive appropriations would consider supplemental items later that day.
