Utah Fiscal Statistics

StatisNostics/State Financials/Utah

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20122021

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State Revenue Analysis (Utah: 2012–2021)

Population: 2,855,194 → 3,205,958 (12.3% change)

Overall Revenue Trends

Total Revenue▲ 85.9%

$15,100,479,000 (2012)→$28,067,618,000 (2021)

Per Capita Revenue▲ 65.5%

$5,289 (2012)→$8,755 (2021)

Fund Balances▲ 26.2%

$6,474,986,000 (2012)→$8,174,437,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 7.8%

Major Tax Revenue

Sales Tax▲ 95.4%

$1,857,035,000 (2012)→$3,628,512,000 (2021)

Utility Revenue

Solid Waste Charges▲ 10.9%

$4,350,000 (2012)→$4,826,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Federal Intergovernmental Health & Hospitals▲ 424.8%

$198,072,000→$1,039,559,000

Sale of Property▲ 240.6%

$19,902,000→$67,795,000

Corporation Net Income Tax▲ 188.4%

$258,578,000→$745,673,000

Declining/Slowest Growing Sources

Workers Compensation - Other Contributions▼ 97.6%

$160,424,000→$3,810,000

Education Other State Charges Not Elsewhere Classified▼ 95.3%

$5,682,000→$266,000

Workers Compensation - Interest Earnings▼ 94.3%

$53,175,000→$3,022,000

Revenue Forecast

Projected Revenue (Next Year)▲ 14.1%

Estimated: $32,016,209,208

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

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%

2021 Revenue Sources

Individual Income Tax23.8%

Federal Intergovernmental Public Welfare14.3%

Total General Sales Taxes12.9%

Hospital Charges10.7%

Higher Education Tuition Charges7.5%

Federal Intergovernmental Education4.9%

Federal Intergovernmental Health & Hospitals3.7%

Corporation Net Income Tax2.7%

Interest Earnings2.3%

Motor Fuels Sales Tax1.9%

Federal Intergovernmental Highways1.7%

Miscellaneous General Revenue Not Elsewhere Classified1.7%

Liquor Stores Revenue1.6%

All Other Not Elsewhere Classified Charges1.4%

Federal Intergovernmental Other1.2%

Donations From Private Sources1.1%

Other Selective Sales Taxes1.0%

Motor Vehicle License0.9%

Higher Education Auxiliary Charges0.7%

Unemployment - Contribution0.6%

Insurance Premium Tax0.6%

Tobacco Sales Tax0.4%

Federal Intergovernmental Other Natural Resources0.2%

Sale of Property0.2%

Occupation & Business License Not Elsewhere Classified0.2%

Public Utilities Tax0.2%

Rents0.1%

Federal Intergovernmental Water Utilities0.1%

Severance Tax0.1%

Parks & Recreation Charges0.1%

Royalties0.1%

Hunting & Fishing License0.1%

Fines & Forfeits0.1%

Motor Vehicle Operators License0.1%

Federal Intergovernmental Sewerage0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Housing & Community Development0.1%

Unemployment - Interest Revenue0.1%

Alcoholic Beverage Sales Tax0.1%

Federal Intergovernmental Employment Security Administration0.0%

Other License Tax0.0%

Housing & Community Development Charges0.0%

Solid Waste Charges0.0%

Federal Intergovernmental General Support0.0%

Local Intergovernmental Education0.0%

Workers Compensation - Other Contributions0.0%

Workers Compensation - Interest Earnings0.0%

Local Intergovernmental Public Welfare0.0%

Local Intergovernmental Health & Hospitals0.0%

Toll Highway Charges0.0%

Corporation License Tax0.0%

Taxes Not Elsewhere Classified0.0%

Federal Intergovernmental Air Transportation0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Local Intergovernmental Other0.0%

Regular Highway Charges0.0%

Key Insights

1Total revenue increased by 85.9% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 12.3%, while per-capita revenue changed by 65.5%.
3The state's fund balances increased by 26.2%, suggesting improved fiscal health.

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State Expense Analysis (Utah: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 74%

$6,997,306,000→$12,209,415,000

Per Capita Spending▲ 55%

$2,451→$3,808

Population Trends

Population Change▲ 12.3%

2,855,194 (2012)→3,205,958 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 6%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 55%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 68%

$0 (2012)→$0 (2021)

General Expenses▲ 59%

$0 (2012)→$0 (2021)

Utah Key Insights

1Per capita expenditures grew by 55%, indicating substantial service expansion or cost increases not explained by population growth alone

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 4%

$4,812,143,000 (2012)→$4,614,550,000 (2021)

Industrial Revenue Debt▲ 6%

$2,208,036,000 (2012)→$2,331,970,000 (2021)

Per Capita Debt▼ 15%

$1,685 (2012)→$1,439 (2021)

Population Trends

Population Change▲ 12.3%

2,855,194 (2012)→3,205,958 (2021)

Debt Management

Most Recent Year (2021)

Issued:$228,096,000

Retired:$525,449,000

Net Change:$-297,353,000

Debt Retirement Trend

$332,144,000 → $525,449,000▲ 58%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2021, with a move toward lower debt levels.