COBI 2015 - SITLA Capital

Overview
Issues
Performance
Financials

Sources Uses

FY 2016 Appropriation

The objective of this program is to provide funding for development on trust land parcels. Examples of such development include Sienna Hills and Coral Canyon in Washington County, the Cedar City Golf Course in Iron County, and the Canyons in Summit County.

Funding History

Funding Issues

Reduction of SITLA Capital Development Projects

Due to the downturn in the economy, SITLA has reduced its capital development projects and the need for this funding is no longer there.

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $5,000,000 from all sources for SITLA Capital. This is a 39.8 percent reduction 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 Reduction of SITLA Capital Development Projects ($3,300,000)$0

OngoingOne-TimeFinancing Source

($3,300,000)$0Land Grant Management Fund

Due to the downturn in the economy, SITLA has reduced its capital development projects and the need for this funding is no longer there.

SITLA Investments & Revenues from Capital Development Projects

Investments and Revenues: This performance measure tracks the investments and the revenues generated from SITLA's capital investment projects.

This line item was created in FY 2008 in order to provide better oversight and accountability. Prior to that, the Capital Development was a program in the SITLA operating line item.

Display By:

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Programs	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Capital	1,973,800	2,594,800	(21,100)	245,500	8,300,000	0	8,300,000	(3,300,000)	5,000,000
Total	$1,973,800	$2,594,800	($21,100)	$245,500	$8,300,000	$0	$8,300,000	($3,300,000)	$5,000,000

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	8,800,000	8,800,000	8,300,000	8,300,000	8,300,000	0	8,300,000	(3,300,000)	5,000,000
Land Grant Mgt Fund, One-time	3,400,000	0	0	0	0	0	0	0	0
Lapsing Balance	(10,226,200)	(6,205,200)	(8,321,100)	(8,054,500)	0	0	0	0	0
Total	$1,973,800	$2,594,800	($21,100)	$245,500	$8,300,000	$0	$8,300,000	($3,300,000)	$5,000,000

Show Table | Show Additional Information

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Current Expense	227,500	71,500	58,700	328,700	2,817,400	(2,693,200)	124,200	0	124,200
Capital Outlay	1,252,700	2,532,000	(59,800)	(174,500)	5,482,600	2,517,400	8,000,000	0	8,000,000
Other Charges/Pass Thru	493,600	(8,700)	(20,000)	91,300	0	175,800	175,800	0	175,800
Total	$1,973,800	$2,594,800	($21,100)	$245,500	$8,300,000	$0	$8,300,000	$0	$8,300,000

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.