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FY 2013 Budget Recommendations. Governor Gary R. Herbert December 12, 2011. VISION FOR THE STATE. Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. OVERVIEW. General Fund/Education Fund Ongoing Revenue.

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fy 2013 budget recommendations

FY 2013 Budget Recommendations

Governor Gary R. Herbert

December 12, 2011

vision for the state
VISION FOR THE STATE

Utah will lead the nation as the best performing economy and be recognized as a premier global business destination

overview
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

source of state funds
Source of State Funds

General Fund and Education Fund: FY 2013

source of all funds
Source of All Funds

ALL SOURCES OF FUNDING: FY 2013

uses of state funds
Uses of State Funds

GENERAL FUND AND EDUCATION FUND: FY 2013

uses of all funds
Uses of All Funds

ALL SOURCES OF FUNDING FY 2013

consensus revenue
CONSENSUS REVENUE

HISTORIC REVENUE ESTIMATES

budget on principle
BUDGET ON PRINCIPLE

THE FOUNDATION FOR ECONOMIC PROSPERITY

PAY AS WE GO

LIVE WITHIN OUR MEANS

AVOID EXCESSIVE DEBT

PREPARE FOR A RAINY DAY

budget on principle10
BUDGET ON PRINCIPLE

THE FOUNDATION FOR ECONOMIC PROSPERITY

NO NEW TAXES

ELIMINATE STRUCTURAL IMBALANCE ($52m)

MAINTAIN RAINY DAY BALANCE ($232.5m)

MAINTAIN AAA BOND RATING

four cornerstones
FOUR CORNERSTONES

ESSENTIAL FOR RETURN TO ECONOMIC PROSPERITY

EDUCATION

JOB GROWTH

ENERGY

UTAH SOLUTIONS

1 st cornerstone education
1st CORNERSTONEEDUCATION

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

1 st cornerstone education13
1st CORNERSTONEEDUCATION

POLICY 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

1 st cornerstone education14
1st CORNERSTONEEDUCATION

BUDGET PRIORITIES – PUBLIC EDUCATION

$111m new funds for public education, maintain base ($2.5b)

Public education growth, $40.6m

Early intervention programs, $10m

1 st cornerstone education15
1st CORNERSTONEEDUCATION

BUDGET PRIORITIES – PUBLIC 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

1 st cornerstone education16
1st CORNERSTONEEDUCATION

BUDGET PRIORITIES – HIGHER EDUCATION

$23m new funds, maintain base ($750m)

Higher education growth, $3m

Performance measures, $5m

Additional 20 medical school student slots, $6.5m

2 nd cornerstone jobs
2nd CORNERSTONEJOBS

Accelerate private sector job creation

GOAL: 100,000 jobs in 1,000 days

2 nd cornerstone jobs18
2nd CORNERSTONEJOBS

POLICY PRIORITIES

Strengthen and grow existing Utah businesses, both urban and rural

Increase innovation, entrepreneurship, and investment

Increase national and international business

Prioritize education

2 nd cornerstone jobs19
2nd CORNERSTONEJOBS

BUDGET 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)

3rd cornerstone energy
3rd CORNERSTONEENERGY

Innovation + Initiative =

ENERGY INDEPENDENCE

GOAL: Ensure access to affordable, reliable and sustainable energy

3rd cornerstone energy21
3rd CORNERSTONEENERGY

POLICY PRIORITIES

Responsible energy resource development

Policies and practices to improve air quality

Innovation for energy efficiency and development

3 rd cornerstone energy
3rd CORNERSTONEENERGY

BUDGET PRIORITIES

Energy Development Office, $700k

Appropriate public land access

Reasonable permitting

Aggressively pursue innovations for energy efficiency and development

4 th cornerstone utah solutions
4th CORNERSTONEUTAH SOLUTIONS

Continue to find Utah solutions

for Utah problems

4 th cornerstone utah solutions24
4th CORNERSTONEUTAH SOLUTIONS

POLICY 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

four cornerstones25
FOUR CORNERSTONES

ESSENTIAL FOR RETURN TO ECONOMIC PROSPERITY

EDUCATION

JOB GROWTH

ENERGY

UTAH SOLUTIONS

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