According to an analysis by USA Today, Utah is the best managed state in the nation.  The study looked at three categories to evaluate financial management.  The study reviewed spending restraint, bond ratings, and state tax systems as criteria in evaluating and ranking the states, with four stars available in each category.  Utah was the only state to receive 12 stars.

According to the report, the benefits of good financial management are often invisible to citizens, but include "service cuts that don't occur, tax increases that aren't needed and borrowing that doesn't have to be repaid by the next generation."

Utah recently went before the major bond rating agencies who all extended Utah's AAA bond rating.  One positive result was that the State issued over $400 million worth of bonds at a rate of 2.8%, saving the State millions of dollars in interest repayment.

Governor Leavitt was quoted saying, "We dealt quickly, openly and aggressively with our budget problems.  Over time, the piper has to be paid. Delaying or using smoke-and-mirrors accounting only magnifies the problem."

Official Utah Press Release

11:40:09 AM