FY 2016 Appropriation

This line item came as a result of a restructuring of the State Board of Regents' Administrative line items during the 2009 General Session and provides support for the Engineering Initiative and the Engineering Loan Repayment Program, and promotes economic development initiatives within the state.

Funding History
Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $4,860,600 from all sources for Economic Development. This is a 1267.6 percent increase from Fiscal Year 2015 revised estimated amounts from all sources. The total includes $4,860,600 from the General/Education Funds, an increase of 1267.6 percent from revised Fiscal Year 2015 estimates.

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 Compensation - USHE & UCAT$4,200$0
OngoingOne-TimeFinancing Source
$4,200$0Education Fund
No Description
Engineering Initiative$3,500,000$1,000,000
OngoingOne-TimeFinancing Source
$3,500,000$0Education Fund
$0$1,000,000Education Fund, One-time
The 2007 Legislature approved $2 million in one-time funding for the Engineering Initiative.
Health Insurance - USHE & UCAT$1,000$0
OngoingOne-TimeFinancing Source
$1,000$0Education Fund
No Description

Degrees Awarded, Scholarships Awarded

The number of both Engineering and Comuter Science degrees awarded have increased since the Initiative began. The number of Engineering degrees has increased 53 percent since FY 2000 while the number of Computer Science degrees has increased 83 percent over the same period of time. Beginning in FY 2010, scholarships were available for engineering students.

State Board of Regents Economic Development

State Board of Regents Economic Development

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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.