Utah Fiscal Statistics

StatisNostics/State Financials/Utah

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20122024

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State Revenue Analysis (Utah: 2012–2024)

Population: 2,855,194 → 3,380,800 (18.4% change)

Overall Revenue Trends

Total Revenue▲ 115.2%

$15,100,479,000 (2012)→$32,489,254,000 (2024)

Per Capita Revenue▲ 81.7%

$5,289 (2012)→$9,610 (2024)

Fund Balances▼ 100%

$6,474,986,000 (2012)→$0 (2024)

Revenue Volatility✓ Low

Avg. fluctuation: 7.1%

Major Tax Revenue

Sales Tax▲ 149.4%

$1,857,035,000 (2012)→$4,632,048,000 (2024)

Utility Revenue

Solid Waste Charges▲ 9.1%

$4,350,000 (2012)→$4,748,000 (2024)

Growth Analysis

Fastest Growing Revenue Sources

Corporation Net Income Tax▲ 460.7%

$258,578,000→$1,449,946,000

Interest Earnings▲ 353.0%

$251,471,000→$1,139,252,000

Toll Highway Charges▲ 313.2%

$492,000→$2,033,000

Declining/Slowest Growing Sources

Education Other State Charges Not Elsewhere Classified▼ 98.3%

$5,682,000→$95,000

Air Transportation Charges▼ 93.1%

$350,000→$24,000

Other Selective Sales Taxes▼ 83.4%

$192,803,000→$31,927,000

Revenue Forecast

Projected Revenue (Next Year)▲ 3.2%

Estimated: $33,531,811,707

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Individual Income Tax16.3%

Federal Intergovernmental Public Welfare14.6%

Total General Sales Taxes12.3%

Hospital Charges8.4%

Higher Education Tuition Charges8.0%

Federal Intergovernmental Education6.4%

Federal Intergovernmental Highways3.9%

Federal Intergovernmental Other2.8%

Motor Fuels Sales Tax2.5%

Unemployment - Contribution2.3%

Miscellaneous General Revenue Not Elsewhere Classified2.1%

All Other Not Elsewhere Classified Charges1.8%

Liquor Stores Revenue1.8%

Corporation Net Income Tax1.7%

Interest Earnings1.7%

Donations From Private Sources1.5%

Federal Intergovernmental Health & Hospitals1.3%

Higher Education Auxiliary Charges1.3%

Other Selective Sales Taxes1.3%

Workers Compensation - Other Contributions1.1%

Motor Vehicle License1.0%

Tobacco Sales Tax0.8%

Severance Tax0.7%

Insurance Premium Tax0.7%

Royalties0.5%

Workers Compensation - Interest Earnings0.4%

Rents0.3%

Occupation & Business License Not Elsewhere Classified0.3%

Alcoholic Beverage Sales Tax0.3%

Federal Intergovernmental Other Natural Resources0.3%

Federal Intergovernmental Water Utilities0.2%

Hunting & Fishing License0.2%

Public Utilities Tax0.2%

Fines & Forfeits0.1%

Sale of Property0.1%

Federal Intergovernmental Sewerage0.1%

Motor Vehicle Operators License0.1%

Parks & Recreation Charges0.1%

Housing & Community Development Charges0.1%

Unemployment - Interest Revenue0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Employment Security Administration0.1%

Federal Intergovernmental Housing & Community Development0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Local Intergovernmental Education0.0%

Solid Waste Charges0.0%

Other License Tax0.0%

Alcoholic Beverage License Tax0.0%

Corporation License Tax0.0%

Toll Highway Charges0.0%

Air Transportation Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Local Intergovernmental Other0.0%

2024 Revenue Breakdown

Individual Income Tax17.6%

Federal Intergovernmental Public Welfare15.8%

Total General Sales Taxes14.3%

Hospital Charges11.6%

Higher Education Tuition Charges7.7%

Federal Intergovernmental Education4.8%

Corporation Net Income Tax4.5%

Interest Earnings3.5%

Federal Intergovernmental Health & Hospitals2.4%

Motor Fuels Sales Tax2.0%

All Other Not Elsewhere Classified Charges1.9%

Miscellaneous General Revenue Not Elsewhere Classified1.9%

Federal Intergovernmental Highways1.8%

Donations From Private Sources1.5%

Liquor Stores Revenue1.5%

Higher Education Auxiliary Charges1.1%

Unemployment - Contribution1.0%

Motor Vehicle License1.0%

Federal Intergovernmental Other0.9%

Insurance Premium Tax0.7%

Tobacco Sales Tax0.3%

Severance Tax0.3%

Sale of Property0.2%

Federal Intergovernmental Other Natural Resources0.2%

Public Utilities Tax0.2%

Occupation & Business License Not Elsewhere Classified0.2%

Royalties0.2%

Rents0.1%

Parks & Recreation Charges0.1%

Hunting & Fishing License0.1%

Unemployment - Interest Revenue0.1%

Other Selective Sales Taxes0.1%

Motor Vehicle Operators License0.1%

Federal Intergovernmental Sewerage0.1%

Alcoholic Beverage Sales Tax0.1%

Natural Resources Not Elsewhere Classified Charges0.0%

Fines & Forfeits0.0%

Federal Intergovernmental Employment Security Administration0.0%

Federal Intergovernmental Housing & Community Development0.0%

Housing & Community Development Charges0.0%

Other License Tax0.0%

Solid Waste Charges0.0%

Local Intergovernmental Education0.0%

Regular Highway Charges0.0%

Toll Highway Charges0.0%

Taxes Not Elsewhere Classified0.0%

Federal Intergovernmental General Support0.0%

Local Intergovernmental Health & Hospitals0.0%

Corporation License Tax0.0%

Federal Intergovernmental Air Transportation0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Key Insights

1Total revenue increased by 115.2% from 2012 to 2024, representing a significant change in the state's financial position.
2Population changed by 18.4%, while per-capita revenue changed by 81.7%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Utah: 2012 - 2024)

Total Expenditure Trends

Operating Expenditures▲ 226%

$6,997,306,000→$22,821,018,000

Per Capita Spending▲ 175%

$2,451→$6,750

Population Trends

Population Change▲ 18.4%

2,855,194 (2012)→3,380,800 (2024)

Public Safety Expenses

Police Protection▲ 86%

$139,564,000 (2012)→$259,286,000 (2024)

Fire Protection▼ 0%

$0 (2012)→$0 (2024)

Infrastructure Expenses

Highways Maintenance▲ 95%

$273,823,000 (2012)→$535,084,000 (2024)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2024)

Administrative Expenses

Financial Administration▲ 130%

$339,038,000 (2012)→$779,288,000 (2024)

General Expenses▲ 117%

$408,597,000 (2012)→$885,515,000 (2024)

Utah Key Insights

1Per capita expenditures grew by 175%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 117%, which may indicate classification changes, new initiatives, or reporting adjustments
3Financial Administration was the fastest growing major expense category at 130% increase

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State Debt Analysis (2012-2024)

Debt Trends

Total Long-Term Debt▲ 12%

$4,812,143,000 (2012)→$5,386,544,000 (2024)

Industrial Revenue Debt▼ 100%

$2,208,036,000 (2012)→$0 (2024)

Per Capita Debt▼ 5%

$1,685 (2012)→$1,593 (2024)

Population Trends

Population Change▲ 18.4%

2,855,194 (2012)→3,380,800 (2024)

Debt Management

Most Recent Year (2024)

Issued:$1,278,227,000

Retired:$2,270,587,000

Net Change:$-992,360,000

Debt Retirement Trend

$332,144,000 → $2,270,587,000▲ 584%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2024, with a move toward higher debt levels.