Utah Fiscal Statistics

StatisNostics/State Financials/Utah

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20122022

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State Revenue Analysis (Utah: 2012–2022)

Population: 2,855,194 → 3,249,879 (13.8% change)

Overall Revenue Trends

Total Revenue▲ 102%

$15,100,479,000 (2012)→$30,501,196,000 (2022)

Per Capita Revenue▲ 77.4%

$5,289 (2012)→$9,385 (2022)

Fund Balances▼ 100%

$6,474,986,000 (2012)→$0 (2022)

Revenue Volatility✓ Low

Avg. fluctuation: 7.9%

Major Tax Revenue

Sales Tax▲ 130.5%

$1,857,035,000 (2012)→$4,280,780,000 (2022)

Utility Revenue

Solid Waste Charges▲ 0.2%

$4,350,000 (2012)→$4,360,000 (2022)

Growth Analysis

Fastest Growing Revenue Sources

Sale of Property▲ 478.8%

$19,902,000→$115,198,000

Federal Intergovernmental Health & Hospitals▲ 358.8%

$198,072,000→$908,780,000

Corporation Net Income Tax▲ 261.8%

$258,578,000→$935,481,000

Declining/Slowest Growing Sources

Workers Compensation - Other Contributions▼ 99.7%

$160,424,000→$520,000

Education Other State Charges Not Elsewhere Classified▼ 94.4%

$5,682,000→$317,000

Other Selective Sales Taxes▼ 91.7%

$192,803,000→$16,082,000

Revenue Forecast

Projected Revenue (Next Year)▲ 18.3%

Estimated: $36,096,077,057

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%

2022 Revenue Breakdown

Individual Income Tax22.3%

Federal Intergovernmental Public Welfare16.2%

Total General Sales Taxes14.0%

Hospital Charges10.4%

Higher Education Tuition Charges7.4%

Federal Intergovernmental Education5.7%

Corporation Net Income Tax3.1%

Federal Intergovernmental Health & Hospitals3.0%

Motor Fuels Sales Tax1.9%

Federal Intergovernmental Other1.9%

Miscellaneous General Revenue Not Elsewhere Classified1.7%

Liquor Stores Revenue1.6%

Donations From Private Sources1.5%

All Other Not Elsewhere Classified Charges1.4%

Federal Intergovernmental Highways1.4%

Higher Education Auxiliary Charges1.0%

Motor Vehicle License0.8%

Unemployment - Contribution0.8%

Insurance Premium Tax0.6%

Sale of Property0.4%

Tobacco Sales Tax0.4%

Severance Tax0.3%

Interest Earnings0.3%

Federal Intergovernmental Other Natural Resources0.2%

Public Utilities Tax0.2%

Occupation & Business License Not Elsewhere Classified0.2%

Royalties0.2%

Rents0.2%

Hunting & Fishing License0.1%

Parks & Recreation Charges0.1%

Federal Intergovernmental Sewerage0.1%

Motor Vehicle Operators License0.1%

Alcoholic Beverage Sales Tax0.1%

Other Selective Sales Taxes0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Unemployment - Interest Revenue0.0%

Federal Intergovernmental Employment Security Administration0.0%

Federal Intergovernmental Housing & Community Development0.0%

Fines & Forfeits0.0%

Other License Tax0.0%

Housing & Community Development Charges0.0%

Workers Compensation - Interest Earnings0.0%

Solid Waste Charges0.0%

Local Intergovernmental Education0.0%

Federal Intergovernmental General Support0.0%

Local Intergovernmental Health & Hospitals0.0%

Local Intergovernmental Public Welfare0.0%

Toll Highway Charges0.0%

Workers Compensation - Other Contributions0.0%

Corporation License Tax0.0%

Taxes Not Elsewhere Classified0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Local Intergovernmental Other0.0%

Key Insights

1Total revenue increased by 102% from 2012 to 2022, representing a significant change in the state's financial position.
2Population changed by 13.8%, while per-capita revenue changed by 77.4%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Utah: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 180%

$6,997,306,000→$19,592,836,000

Per Capita Spending▲ 146%

$2,451→$6,029

Population Trends

Population Change▲ 13.8%

2,855,194 (2012)→3,249,879 (2022)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 40%

$139,564,000 (2012)→$194,855,000 (2022)

Fire Protection▼ 0%

$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▲ 39%

$273,823,000 (2012)→$381,663,000 (2022)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2022)

Administrative Expenses

Financial Administration▲ 88%

$339,038,000 (2012)→$637,925,000 (2022)

General Expenses▲ 101%

$408,597,000 (2012)→$822,398,000 (2022)

Utah Key Insights

1Per capita expenditures grew by 146%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 101%, which may indicate classification changes, new initiatives, or reporting adjustments
3Financial Administration was the fastest growing major expense category at 88% increase

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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 24%

$4,812,143,000 (2012)→$5,984,303,000 (2022)

Industrial Revenue Debt▼ 100%

$2,208,036,000 (2012)→$0 (2022)

Per Capita Debt▲ 9%

$1,685 (2012)→$1,841 (2022)

Population Trends

Population Change▲ 13.8%

2,855,194 (2012)→3,249,879 (2022)

Debt Management

Most Recent Year (2022)

Issued:$1,005,314,000

Retired:$1,967,561,000

Net Change:$-962,247,000

Debt Retirement Trend

$332,144,000 → $1,967,561,000▲ 492%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2022, with a move toward higher debt levels.