COBI 2015 - Business Growth

Overview
Issues
Financials

Sources Uses

FY 2016 Appropriation

Prior to FY 2013 Business Growth was charged with promoting the vitality, expansion and retention of existing Utah businesses. Most of the functions for Business Growth were transitioned to the Corporate Recruitment and Business Services program to align budget with operational functions. Rural Development and International Trade were transferred to Business Outreach and International Trade.

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $0 from all sources for Business Growth. This is a 0 percent change from Fiscal Year 2015 revised estimated amounts from all sources.

Intent Language

HB0003: Item 59

Under Section 63J-1-603 of the Utah Code, the Legislature intends that appropriations provided for the Governor's Office of Economic Development Business Development, Laws of Utah 2014, Chapter 10, Item 11 shall not lapse at the close of FY 2015. The use of any non-lapsing funds is limited to Business Cluster support: $75,000; Business Resource Centers: $350,000; Technology Commercialization and Innovation Program contracts: $3,000,000; International Development contracts and support: $500,000; Procurement and Technical Assistance Center contracts: $175,000; Rural Development contracts and support: $200,000; and Corporate Recruitment contracts and support: $100,000.

Funding for business growth was used for staff support and pass through. Most of the funding came from the General Fund.

Display By:

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
General Fund	2,491,100	3,844,100	0	0	0	0	0	0	0
General Fund, One-time	1,120,000	636,900	0	0	0	0	0	0	0
Federal Funds	252,000	501,400	0	0	0	0	0	0	0
Beginning Nonlapsing	1,115,900	816,600	0	0	0	0	0	0	0
Closing Nonlapsing	(816,600)	(815,400)	0	0	0	0	0	0	0
Lapsing Balance	(185,900)	(74,500)	0	0	0	0	0	0	0
Total	$3,976,500	$4,909,100	$0	$0	$0	$0	$0	$0	$0

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Personnel Services	1,501,100	1,579,300	0	0	0	0	0	0	0
In-state Travel	18,800	23,900	0	0	0	0	0	0	0
Out-of-state Travel	55,300	120,000	0	0	0	0	0	0	0
Current Expense	578,700	842,000	0	0	0	0	0	0	0
DP Current Expense	38,300	21,800	0	0	0	0	0	0	0
DP Capital Outlay	0	12,900	0	0	0	0	0	0	0
Capital Outlay	34,300	0	0	0	0	0	0	0	0
Other Charges/Pass Thru	1,750,000	2,309,200	0	0	0	0	0	0	0
Total	$3,976,500	$4,909,100	$0	$0	$0	$0	$0	$0	$0

Show Table | Show Additional Information

Other Indicators	FY11 Actual	FY12 Actual	FY14 Actual	FY15 Change	FY15 Revised	FY16 Change
Budgeted FTE	18	14	0	0	0	0
Actual FTE	18	18.70	0	0	0	0
Vehicles	1	1	1	1	1	(1)

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.