COBI 2015 - Corporate Recruitment and Incentives

Overview
Issues
Financials

Sources Uses

FY 2016 Appropriation

Prior to FY 2013 the mission of Corporate Recruitment and Incentives was to create high-paying, high-quality jobs by recruiting new or expanding companies to the state. Beginning in FY 2013 the functions of Corporate Recruitment and Incentives have transitioned to the Corporate Recruitment and Business Services program to align budgets with the operational structure.

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $0 from all sources for Corporate Recruitment and Incentives. 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 Corporate Recruitment and Incentives 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	808,100	807,000	0	0	0	0	0	0	0
Dedicated Credits Revenue	0	153,400	0	0	0	0	0	0	0
GFR - Industrial Assistance	223,500	223,500	0	0	0	0	0	0	0
Beginning Nonlapsing	75,000	75,000	0	0	0	0	0	0	0
Closing Nonlapsing	(75,000)	(75,000)	0	0	0	0	0	0	0
Lapsing Balance	(1,900)	(23,700)	0	0	0	0	0	0	0
Total	$1,029,700	$1,160,200	$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	507,900	593,700	0	0	0	0	0	0	0
In-state Travel	1,600	2,400	0	0	0	0	0	0	0
Out-of-state Travel	2,400	3,100	0	0	0	0	0	0	0
Current Expense	517,100	559,800	0	0	0	0	0	0	0
DP Current Expense	700	1,200	0	0	0	0	0	0	0
Total	$1,029,700	$1,160,200	$0	$0	$0	$0	$0	$0	$0

Show Table | Show Additional Information

Other Indicators	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Budgeted FTE	8	5	0	0	0	0	0	0	0
Actual FTE	8	5.80	0	0	0	0	0	0	0

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.