Source: CVDaily Feed
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SALT LAKE CITY (AP) — State officials say Utah finished the fiscal year with an extra $112 million to spend on one-time projects.
Lawmakers on the Executive Appropriations Committee announced the budget surplus Tuesday afternoon.
Coalville Republican Rep. Mel Brown says that as of June 30, the state’s general and education funds had collected an extra $166 million during the fiscal year.
Some money was automatically taken out of that surplus to stash into rainy day and emergency funds.
That leaves $112 million for lawmakers to spend during their next legislative session in 2015.
Gov. Gary Herbert’s office says the extra money came from state and corporate income tax collections that flow to education.
The governor’s office also says strong oil and gas production brought extra money to the state’s general fund.