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SALT LAKE CITY (AP) -- A Utah Tax Commission report shows the state reached the end of the fiscal year on target for its $10.6 billion budget.
The report shows the state closing out the last month of the 2008-09 fiscal year, which ended June 30, with a $31 million tax surplus in the general and education funds and an $11 million surplus in the transportation fund.
Lawmakers adopted last fiscal year's budget during the 2008 legislative session. They returned for a special session in September to cut money after seeing tax revenues fall and cut the budget again at the beginning of this year's session.
Legislative chief budgeter Jonathan Ball says after a few other required funds transfers are made for the just-finished year, he thinks the state will hit the budget right on and close with either a small surplus or deficit.
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Information from: Deseret News
(Copyright 2009 by The Associated Press. All Rights Reserved.)
