Huntsman maps out his finances

Gov.-elect Jon Huntsman Jr. will be getting out of the chemical business when he's sworn into office next month. But as governor he may well be augmenting his $100,000-plus state salary with family cash, as the cost of college for growing children or other needs arise.

"I may or may not take proceeds out" of the newly created Jon Huntsman Jr. trust while serving over the next four years, Huntsman told the Deseret Morning News.

With one child already in college and more heading that way, Huntsman said there may be times when he'll need to tap into the trust, which will be filled with tens of millions of dollars as he sells off his Huntsman chemical stock after the $9.5 billion family firm goes public next year.

Huntsman will also soon start a large fund-raising campaign aimed at paying off more than $625,000 of campaign debt incurred in his successful run for the governorship this year.

In an interview with the Deseret Morning News about how he'll handle his personal and political finances once he takes the oath of office Jan. 3, Huntsman said he may use other family assets as well in conducting state or political business.

"But I lived on my salary when I worked in the federal government. And I plan to live on my (state) salary, as well," he added. Huntsman has twice been a U.S. ambassador.

Some other financial and lifestyle decisions:

• Huntsman will fly coach, not first class, on airlines, even though Delta Air Lines, which has a hub in the Salt Lake City International Airport, regularly upgrades Utah governors to first class with no additional charge.

• He will take no regular salary or income from the Huntsman chemical business, resigning all posts with the firm when he takes office. He'll not attend any Huntsman chemical business meetings while in office.

• He, wife Mary Kaye and their six children will live in the Governor's Mansion on South Temple. But the family will keep their Federal Heights house for awhile because "my kids want a regular home" to use if need be.

• He'll use the Huntsman corporate jet only "if it is going the same way I am" and he can catch a ride "and save taxpayers some money." The governor has first call on two state airplanes, but they are not jets and are mostly used to hop around the state or Mountain West region.

• He'll do considerable political fund raising via a newly created political action committee (PAC). But he won't use his PAC to pay for governor-related items not picked up by the state, such as a new inaugural dress for the First Lady. "I imagine I'll pay for personal items like that myself. I've bought (Mary Kaye) a new dress for Christmas, and it will serve as her inaugural dress, too."

Pending stock sale