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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
VISION FOR THE STATE
Utah will lead the nation as the best performing economy and
be recognized as a premier global business destination
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EDUCATION
JOBS
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UTAH SOLUTIONS
OVERVIEW
GENERAL FUND/EDUCATION FUND ONGOING REVENUE
Total State Budget $12.9b(includes federal funds)
General Fund/Education Fund $5.1b(state tax dollars only)
New FY 2012 GF/EF One-Time$128.2m
New FY 2012 GF/EF Estimate$279.5m
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OVERVIEW
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
Source of State Funds
GENERAL FUND AND EDUCATION FUND: FY 2013
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CONSENSUS REVENUE
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
Source of All Funds
ALL SOURCES OF FUNDING: FY 2013
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OVERVIEW
CONSENSUS REVENUE
PRINCIPLES
CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
Uses of State Funds
GENERAL FUND AND EDUCATION FUND: FY 2013
VISION
OVERVIEW
CONSENSUS REVENUE
PRINCIPLES
CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
Uses of All Funds
ALL SOURCES OF FUNDING FY 2013
VISION
OVERVIEW
CONSENSUS REVENUE
PRINCIPLES
CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
CONSENSUS REVENUE
HISTORIC REVENUE ESTIMATES
VISION
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CONSENSUS REVENUE
PRINCIPLES
CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
BUDGET ON PRINCIPLE
THE FOUNDATION FOR ECONOMIC PROSPERITY
• PAY AS WE GO
• LIVE WITHIN OUR MEANS
• AVOID EXCESSIVE DEBT
• PREPARE FOR A RAINY DAY
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
BUDGET ON PRINCIPLE
• NO NEW TAXES
• ELIMINATE STRUCTURAL IMBALANCE ($52m)
• MAINTAIN RAINY DAY BALANCE ($232.5m)
• MAINTAIN AAA BOND RATING
THE FOUNDATION FOR ECONOMIC PROSPERITY
VISION
OVERVIEW
CONSENSUS REVENUE
PRINCIPLES
CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
FOUR CORNERSTONESESSENTIAL FOR RETURN TO ECONOMIC PROSPERITY
EDUCATION
JOB GROWTH
ENERGY
UTAH SOLUTIONS
VISION
OVERVIEW
CONSENSUS REVENUE
PRINCIPLES
CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
1st CORNERSTONE
EDUCATION
An educated workforce is critical for a prosperous economy
GOAL: 66% of adult Utahns will have a post-secondary degree or
professional certification by 2020
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
1st CORNERSTONE
EDUCATIONPOLICY PRIORITIES
• Reading proficiency by end of 3rd grade
• Increase post-secondary course completion for high school students
• Align education with workforce and marketplace demands
• TOTAL: $3.25b for public and higher education combined
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EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
1st CORNERSTONE
EDUCATION
• $111m new funds for public education, maintain base ($2.5b)
• Public education growth, $40.6m
• Early intervention programs, $10m
BUDGET PRIORITIES – PUBLIC EDUCATION
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CONSENSUS REVENUE
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
1st CORNERSTONE
EDUCATION
• Expand online career counseling through utahfutures.org, $500k
• Expand individualized student technology, $12m
• Charter school startup funding, $2m
• Raise WPU 1% to increase teacher salaries
BUDGET PRIORITIES – PUBLIC EDUCATION
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CONSENSUS REVENUE
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
1st CORNERSTONE
EDUCATION
• $23m new funds, maintain base ($750m)
• Higher education growth, $3m
• Performance measures, $5m
• Additional 20 medical school student slots, $6.5m
BUDGET PRIORITIES – HIGHER EDUCATION
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EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
2nd CORNERSTONE
JOBS
Accelerate private sector job creation
GOAL: 100,000 jobs in 1,000 days
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EDUCATION
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UTAH SOLUTIONS
2nd CORNERSTONE
JOBS
• Strengthen and grow existing Utah businesses, both urban and rural
• Increase innovation, entrepreneurship, and investment
• Increase national and international business
• Prioritize education
POLICY PRIORITIES
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
2nd CORNERSTONE
JOBSBUDGET PRIORITIES
• Reduce unemployment insurance rate; employer tax decrease of $26.4m
• Expand Business Expansion and Retention (BEAR) program to all rural counties, $300k
• Business recruitment, $500k• Workforce job search, training, and
retraining, $20.5m Example: Accelerated Credentialing to Employment (ACE) program for Veterans ($1m)
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UTAH SOLUTIONS
3rd CORNERSTONE
ENERGY
Innovation + Initiative = ENERGY INDEPENDENCE
GOAL: Ensure access to affordable, reliable and sustainable energy
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UTAH SOLUTIONS
3rd CORNERSTONE
ENERGYPOLICY PRIORITIES
• Responsible energy resource development
• Policies and practices to improve air quality
• Innovation for energy efficiency and development
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UTAH SOLUTIONS
3rd CORNERSTONE
ENERGYBUDGET PRIORITIES
Energy Development Office, $700k
Appropriate public land access
Reasonable permitting
Aggressively pursue innovations for energy efficiency and development
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EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
4th CORNERSTONE
UTAH SOLUTIONS
Continue to find Utah solutionsfor Utah problems
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EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
4th CORNERSTONE
UTAH SOLUTIONSPOLICY PRIORITIES
• Medicaid, additional $156.5m (total=$448m from GF)
• Supplemental funding for State Parks, $2.8 m
• $30.6m new money for Public Safety and Corrections (total=$412.6m)
• $60m new money for transportation, infrastructure maintenance
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OVERVIEW
CONSENSUS REVENUE
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CORNERSTONES:
EDUCATION
JOBS
ENERGY
UTAH SOLUTIONS
FOUR CORNERSTONESESSENTIAL FOR RETURN TO ECONOMIC PROSPERITY
EDUCATION
JOB GROWTH
ENERGY
UTAH SOLUTIONS