The State of Utah’s (State) Division of Finance recently completed the Annual Comprehensive Financial Report (ACFR) for fiscal year ended on June 30, 2021. The Office of the State Auditor (Office) audited the ACFR and issued its audit opinion which is contained within the ACFR. The Office appreciates the Division of Finance’s hard work and professionalism in completing the ACFR.
In addition, the Office released its annual Statement of Long-Term Liabilities and Commitments for the State of Utah. The State’s constitutional debt limit as of June 30, 2021 was $ 7.47 billion. During the ordinary course of operation, the State and its various component units incur an array of debt and other long-term commitments. This report provides a simplified summary of that debt and those commitments.
As of June 30, 2021, long-term liabilities for the State’s governmental activities was $3.63 billion. The State’s business-type activities reported $1.29 billion in long-term liabilities, while the State’s component units had $5.36 billion in long-term liabilities.