COBI 2015 - State Treasurer

Overview
Issues
Performance
Financials

Sources Uses

FY 2016 Appropriation

The State Treasurer budget consists of one line item.

The line item has three programs:

Treasury and Investment
Unclaimed Property
Money Management Council

Funding History

Related Publications

Bond Refunding: Saving Money on Debt Service

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $3,069,000 from all sources for State Treasurer. This is a 4.2 percent reduction from Fiscal Year 2015 revised estimated amounts from all sources. The total includes $954,200 from the General/Education Funds, an increase of 2.9 percent from revised Fiscal Year 2015 estimates.

Appropriation Adjustments

The following appropriation adjustments were made during the 2015 General Session:

DescriptionOngoingOne-Time Executive Compensation$39,500 ($39,500)

OngoingOne-TimeFinancing Source

$25,700$0General Fund

$0 ($25,700)General Fund, One-time

$13,800 ($13,800)Dedicated Credits Revenue

H.B. 368 - Executive Office Compensation (Rep. Wilson) Increases Governor salary from $109,900 to $150,000 beginning Jan. 2017. Also adjusts salary for Lt. Governor, Attorney General, State Treasurer, and State Auditor (as a percentage of the Governor's salary). Fiscal note is $184,900 ongoing GF and $32,400 from dedicated credits, but due to the delayed implementation, 100% would be backed out one-time for FY 2016 and 50% would be backed out one-time for FY 2017.

Printing and Mailing ($18,500)$0

OngoingOne-TimeFinancing Source

($18,500)$0General Fund

Through the development and enhancement of electronic processing, particularly through the conversion to paperless Public Treasurers' Investment Fund (PTIF) statements, the State Treasurer's Office has realized a savings of over $10,000 per year in printing and mailing expenses.

Treasurer Processing Automation$18,500$0

OngoingOne-TimeFinancing Source

$18,500$0General Fund

This is a reallocation from base budget reductions. The Treasurer's budget was reduced by the same amount, related to savings from printing and mailing following modernized and automated processing efforts. The cut amount was returned to the office to continue these efforts.

The following are performance measures tracked within this organization.

Intent Language

HB0003: Item 9

Under section 63J-1-603 of the Utah Code, the Legislature intends that appropriations provided to the State Treasurer in Item 21, Chapter 14, Laws of Utah 2014 not lapse at the close of Fiscal Year 2015.

Display By:

Program

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
Treasury and Investment	1,127,000	1,175,200	1,222,300	1,277,900	1,339,300	0	1,339,300	68,200	1,407,500
Unclaimed Property	1,568,900	1,220,400	1,350,900	1,361,500	1,636,300	135,000	1,771,300	(202,500)	1,568,800
Money Management Council	80,700	80,100	74,900	77,300	91,500	0	91,500	1,200	92,700
Financial Assistance	0	0	0	0	0	0	0	0	0
Total	$2,776,600	$2,475,700	$2,648,100	$2,716,700	$3,067,100	$135,000	$3,202,100	($133,100)	$3,069,000

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
General Fund	940,200	870,500	888,300	906,800	924,000	0	924,000	50,700	974,700
General Fund, One-time	0	0	0	1,600	3,300	0	3,300	(23,800)	(20,500)
Dedicated Credits Revenue	445,900	440,600	462,800	479,700	496,400	0	496,400	42,500	538,900
Unclaimed Property Trust	1,412,300	1,408,100	1,429,700	1,468,600	1,643,400	0	1,643,400	(67,500)	1,575,900
Beginning Nonlapsing	445,000	250,000	350,000	300,000	0	200,000	200,000	(135,000)	65,000
Closing Nonlapsing	(250,000)	(350,000)	(300,000)	(200,000)	0	(65,000)	(65,000)	0	(65,000)
Lapsing Balance	(216,800)	(143,500)	(182,700)	(240,000)	0	0	0	0	0
Total	$2,776,600	$2,475,700	$2,648,100	$2,716,700	$3,067,100	$135,000	$3,202,100	($133,100)	$3,069,000

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Personnel Services	1,840,500	1,810,700	1,948,900	2,049,700	2,092,300	(8,300)	2,084,000	79,200	2,163,200
In-state Travel	1,000	1,200	700	900	2,800	10,900	13,700	10,500	24,200
Out-of-state Travel	13,600	15,700	10,300	14,900	16,900	2,600	19,500	3,200	22,700
Current Expense	519,600	404,700	420,900	415,800	699,000	122,100	821,100	(191,700)	629,400
DP Current Expense	134,900	223,800	257,900	195,900	256,100	(43,300)	212,800	16,700	229,500
DP Capital Outlay	9,000	19,600	9,400	39,500	0	51,000	51,000	(51,000)	0
Capital Outlay	22,000	0	0	0	0	0	0	0	0
Other Charges/Pass Thru	236,000	0	0	0	0	0	0	0	0
Total	$2,776,600	$2,475,700	$2,648,100	$2,716,700	$3,067,100	$135,000	$3,202,100	($133,100)	$3,069,000

Show Table | Show Additional Information

Other Indicators	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Revised	FY16 Approp
Budgeted FTE	25	25.60	27.26	24.70	24.66	24.66	24.66
Actual FTE	21	20.90	22.10	22	0	0	0
Vehicles	1	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.