The Governor’s Office of Planning and Budget and the Office of Legislative Fiscal Analyst announced today the most recent revenue estimates for the 2004 Fiscal Year, which ends on June 30, 2004. The consensus revenue estimates for the General Fund and the Uniform School Fund show total revenues at $3.5 billion. This figure is $42 million higher than the estimates adopted in December by the Legislature. The higher revenue estimate means the Legislature will have $44 million of additional one-time money to appropriate in the Fiscal Year 2004 budget.

The primary reasons for the increase in the 2004 Fiscal Year estimates are higher predictions for individual income and corporate franchise taxes.

The consensus General Fund and Uniform School Fund revenue estimates for the 2005 Fiscal Year, which begins on July 1, 2004 and ends on June 30, 2005, show nearly $3.7 billion. This is $30 million higher than Governor Walker’s budget recommendations and $50 million higher than the estimates adopted by the Legislature in December. This means the Legislature will have $134 million of ongoing money to appropriate as it finalizes the Fiscal Year 2005 budget.

Again, the primary reasons for the increase in the 2005 Fiscal Year estimates are higher predictions for individual income and corporate franchise taxes.

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Gov. Olene Walker recently announced that the Utah State Advisory Council on Science and Technology is accepting nominations for the 2004 annual Governor's Medal for Science and Technology Award. The Governor's Medal is awarded as a symbol of recognition to those individuals who have provided distinguished service to the state of Utah in science and technology.

Nominations can be made in any one of four categories: academic, science education, industry (including independent inventors and entrepreneurs), and government. Any Utah citizen or organization may submit nominations. The team category nominations awarded in past years will no longer be accepted. Nominees must meet a residency of Utah requirement detailed in the "Procedures and Criteria for Selection" document located on the Internet at http://dced.utah.gov/science/2002procedurecriteria.pdf.

The awards recognize individuals who have made a significant impact and contribution to science and technology in the state of Utah. Candidate nominations representing Utah's biotechnology, computer technology and medical technology markets are strongly encouraged, but nominees are welcomed from any fields of endeavor.

The State Advisory Council on Science and Technology is responsible for administering the award and for recommending nominees to Gov. Walker. A one-page form, attached, is all that is needed to initiate a nomination. If preferred, this form can be accessed via the web at http://dced.utah.gov/science/medal.html. As needed, nominees selected from the first round of applications may be asked to submit a more complete application package. The nominations must be received by 5:00 p.m. May 7, 2004.

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