Salt Lake officials are projecting a $500,000 budget surplus at the end of its fiscal year, but any leftover money would be available only for expenditures on disasters, officials said Tuesday.
Finance officials said revenues at the end of the fiscal year on June 30 will exceed budgeted income by $286,000, while expenditures as of March 31 were $228,000 less than budgeted - for a $514,000 surplus.But under state statute, unless the money is appropriated this fiscal year, the money would become part of the city's fund balance, which could only be tapped in the event of a disaster, said Gordon Hoskins, city budget manager.
Sales tax revenue is projected to exceed last year's receipts by $900,000, accounting for much of the surplus on the revenue side of the ledger, finance officials told Mayor Palmer DePaulis.
But the mayor stressed the figures reflect only a budget forecast. "We may still run a deficit," he cautioned.