New revenue numbers released on Friday afternoon show a projected $1.3
billion budget surplus has been trimmed by about $200 million, dropping the
total to $1.1 billion. Lawmakers announced $525 million in one-time money
and $570 million in ongoing surplus revenue for next year.
However, a big chunk of that has already been spoken for. Legislators set
aside $300 million at the end of last year just in case those rosy estimates
fell short of the mark, which is the case.
Additionally, lawmakers paid cash to finish the construction of the new Utah
State Prison, which takes another $350 million or so out of the kitty. The
limited Medicaid expansion program passed earlier this year takes another
$72 million out of play, meaning the total amount of remaining extra money
lawmakers have to spend this year is closer to $650 million.
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