COBI 2014 - Uintah Basin Revitalization Fund

Compendium of Budget Information for the 2014 General Session

Social Services
Appropriations Subcommittee

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Agency: Workforce Services

Line Item: Uintah Basin Revitalization Fund

Function

The Uintah Basin Revitalization Fund is to maximize the long-term benefit of severance taxes by funding items that will make the best of use of resources for largest number of Uintah Basin residents. These residents include Uintah and Duchesne Counties as well as Ute tribe members.

The Fund's uses must be approved by four of five members of the governing board. The board consists of a governor's designee, a Duchesne County Commissioner, a Uintah County Commissioner, and two representatives of the Ute Indian Tribe's Business Committee.

Statutory Authority

Statutory authority for the Fund comes from UCA 35A-8-1602 and 59-5-116. This Fund receives revenue automatically as per UCA 35A-8-1602. For Ute tribal lands, the Fund receives 33% of severance taxes from wells existing before July 1995 and 80% of taxes from new wells beginning production on or after July 1995. The maximum annual deposit cannot exceed a statutory cap. The cap is $6,000,000, as adjusted by a commission for the consumer price index using 2008 as the base year. If the annual deposit were to exceed $6,000,000, then the excess would go into the General Fund.

The Ute Tribe receives the most annually from the fund followed by Duchesne and Uintah Counties who receive equal amounts.

Funding Detail

For more detail about a particular source of finance or organizational unit, click a linked entry in the left column of the table(s) below.

Sources of Finance (click linked fund name for more info)
Dedicated Credits Revenue
Interest Income
Restricted Revenue
Beginning Fund Balance
Ending Fund Balance
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$0	$0	$0	$128,200	$0	$133,900	$133,900	($133,900)	$0
$231,700	$218,500	$133,900	$0	$133,900	($133,900)	$0	$135,000	$135,000
$5,757,900	$6,100,000	$6,248,000	$7,529,600	$6,248,000	$0	$6,248,000	$1,302,000	$7,550,000
$26,139,800	$28,625,900	$29,701,100	$21,621,600	$20,253,200	$5,271,800	$25,525,000	$0	$25,525,000
($28,625,900)	($29,701,100)	($21,621,600)	($25,525,000)	($18,884,800)	($6,640,200)	($25,525,000)	$65,300	($25,459,700)
$3,503,500	$5,243,300	$14,461,400	$3,754,400	$7,750,300	($1,368,400)	$6,381,900	$1,368,400	$7,750,300

Programs: (click linked program name to drill-down)
Uintah Basin Revitalization Fund
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$3,503,500	$5,243,300	$14,461,400	$3,754,400	$7,750,300	($1,368,400)	$6,381,900	$1,368,400	$7,750,300
$3,503,500	$5,243,300	$14,461,400	$3,754,400	$7,750,300	($1,368,400)	$6,381,900	$1,368,400	$7,750,300

Categories of Expenditure (mouse-over category name for definition)
Personnel Services
In-state Travel
Out-of-state Travel
Current Expense
DP Current Expense
Other Charges/Pass Thru
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$0	$0	$44,900	$54,300	$44,900	($16,300)	$28,600	$16,300	$44,900
$0	$0	$0	$0	$0	$3,800	$3,800	($3,800)	$0
$0	$0	$1,400	$100	$1,400	$400	$1,800	($400)	$1,400
$29,600	$48,000	$13,900	$0	$13,900	$65,500	$79,400	($65,500)	$13,900
$0	$0	$0	$0	$0	$1,400	$1,400	($1,400)	$0
$3,473,900	$5,195,300	$14,401,200	$3,700,000	$7,690,100	($1,423,200)	$6,266,900	$1,423,200	$7,690,100
$3,503,500	$5,243,300	$14,461,400	$3,754,400	$7,750,300	($1,368,400)	$6,381,900	$1,368,400	$7,750,300

Other Indicators
Change in Fund Balance

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$0	$0	($8,079,500)	$0	($1,368,400)	$1,368,400	$0	($1,368,400)	($1,368,400)

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COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.