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Legislative fiscal analyst reports small net revenue shifts, advises no change to estimates
Summary
The legislative fiscal analyst told the Utah Senate that revised February 1998 revenue estimates show modest net shifts — a $500,000 reduction in the general fund for 1998 and a $1.2 million increase in the Uniform School Fund — and recommended no change to the revenue estimates in current use.
Legislative Fiscal Analyst Leo told the Utah State Senate on Feb. 17 that updated revenue estimates released that morning show only modest net changes and that committees should not alter the revenue figures they are currently using.
"I have good news and bad news for you," Leo said as he opened the fiscal briefing. He reported a net $500,000 decrease in the general fund for fiscal 1998, driven by declines in oil-and-gas severance taxes and slower federal…
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