Division of Finance Financial Reports


The Division of Finance publishes a number of reports and documents to ensure taxpayer resources entrusted to the State of Utah by the legislature and other stakeholders are managed in a responsible, appropriate manner.

These documents are formatted in portable document format (PDF). To view them, download a free copy of the Adobe Acrobat Reader.


The Government Finance Officers Association recognized the State of Utah with the Certificate of Achievement of Excellence in Financial Reporting for the 32nd consecutive year in 2017.


Accounts
H.B. 256, Revenue Reviews for Certain Funds, requires the Division of Finance to prepare an annual report and present that report to the Executive Appropriations Committee for six funds that meet the following criteria:

    • A “contribution dependent account” or a fund that receives at least 50% of its revenue from contributions, and those revenues are not intended to be used to directly provide services exclusively to the person who made the contribution;

    • The “contribution dependent account” did not receive at least $30,000 in contributions during one of the three last fiscal years; and

    • A “contribution dependent account” does not include a trust or agency fund.
CONTRIBUTION DEPENDENT ACCOUNTS REPORTS

2017 CAFR
The Division of Finance is responsible for the fair presentation of the financial statements of the State of Utah and for the preparation of the Comprehensive Annual Financial Report (CAFR).
The contents of the CAFR present the State’s financial position and results of operations, as well as certain demographic and statistical information to help the reader understand the financial condition of the State for the fiscal year ended June 30.
Financial Highlights
The Division of Finance publishes preliminary financial information as soon as state agencies close their books. This is done to provide key information needed in the budget preparation process which begins in September.
This information is now updated with final fiscal year 2017 data. The financial information is neither comprehensive nor audited. Final audited financial information for fiscal year 2017 is available in the State’s Comprehensive Annual Financial Report (CAFR).

Accounts Receivable Report
The Office of State Debt Collection accumulates data from all Utah State Agencies to produce the Annual Accounts Receivables Report to the Governor and Legislature per Utah Code 63A-3-502. The report presents information for each agency and in summary.
State Bonds
The State of Utah issues general obligation bonds, revenue bonds, and lease revenue bonds for the acquisition and construction of buildings and highways and to provide capital for various water loan programs.
The State of Utah’s General Obligation bonds have been assigned the highest credit rating by Moody’s Investors Service, Inc. (Aaa), Standard and Poor’s (AAA), and Fitch Ratings, Inc. (AAA).
In addition, the State’s Lease Revenue bonds have the following ratings: Moody’s Investors Service, Inc. (Aa1) and Standard and Poor’s (AA+).

DETAILED INFORMATION ON STATE OF UTAH BONDS AVAILABLE TO THE PUBLIC:
Federal Receipts
Report to the Executive Appropriations Committee of Federal Receipts for certain state agencies, state institutions of higher education, and local education agencies (LEAs).
This report includes, for certain state agencies, the Plan of Potential 5% and 25% Federal Receipts Reductions.
Federal Single Audit Report
The State of Utah Single Audit Report, required by federal standards, is issued under separate cover by the Office of the Utah State Auditor.
For additional information contact Lynn Bodrero in the Utah Division of Finance.
Test
FFATA instructions and supporting documents included in the September 29, 2010 (FY2011) Agency Coordinator Team (ACT) meeting (updated).