COBI 2015 - Oil and Gas

Overview
Issues
Financials

Sources Uses

FY 2016 Appropriation

The Oil and Gas program manages and administers approximately 4.4 million acres of oil, gas, and hydrocarbon rights held in the trust. Oil and Gas assets must be managed under strict fiduciary guidelines with focus on generating revenue today and protecting long-term assets for the future. Staff engages in managing the oil and gas assets, enforcing existing contractual rights, leasing, reclaiming the surface for future uses, and attracting industry to trust lands for exploration and development.

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $916,900 from all sources for Oil and Gas. This is a 21.9 percent increase from Fiscal Year 2015 revised estimated amounts from all sources.

Appropriation Adjustments

In addition to statewide compensation and internal service fund cost increases, the following appropriation adjustments were made during the 2015 General Session:

DescriptionOngoingOne-Time SITLA Oil and Gas Staff$140,000$0

OngoingOne-TimeFinancing Source

$140,000$0Land Grant Management Fund

Additional 1 FTE for SITLA's Oil & Gas division.

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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
Land Grant Management Fund	639,200	618,500	716,700	692,000	749,100	0	749,100	164,100	913,200
Land Grant Mgt Fund, One-time	50,000	0	0	1,600	3,200	0	3,200	500	3,700
Lapsing Balance	(112,500)	(48,700)	(56,900)	0	0	0	0	0	0
Total	$576,700	$569,800	$659,800	$693,600	$752,300	$0	$752,300	$164,600	$916,900

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Personnel Services	459,500	455,100	571,000	614,600	599,600	6,100	605,700	159,500	765,200
In-state Travel	3,700	2,900	5,800	3,300	7,300	0	7,300	0	7,300
Out-of-state Travel	3,400	7,000	8,100	5,400	6,100	0	6,100	0	6,100
Current Expense	105,800	101,500	68,100	67,000	137,800	(6,000)	131,800	4,700	136,500
DP Current Expense	2,800	2,900	3,100	3,300	1,500	(100)	1,400	400	1,800
DP Capital Outlay	0	0	3,500	0	0	0	0	0	0
Capital Outlay	1,500	400	200	0	0	0	0	0	0
Total	$576,700	$569,800	$659,800	$693,600	$752,300	$0	$752,300	$164,600	$916,900

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Other Indicators	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Revised	FY16 Change	FY16 Approp
Budgeted FTE	5.60	6	7	6.50	6	6	1	7
Actual FTE	4.70	4.70	5.90	6.50	0	0	0	0
Vehicles	1	1	1	1	1	1	0	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.