| (b) | the fiscal year 1983 inflation index divided by 100. See Utah Code 63J-3-103Fiscal year: means the time period beginning on July 1 of any given year and ending on June 30 of the subsequent year. See Utah Code 63J-3-103Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.Inflation index: means the change in the general price level of goods and services as measured by the Gross National Product Implicit Price Deflator of the Bureau of Economic Analysis, U. See Utah Code 63J-3-103Population: means the number of residents of the state as of July 1 of each year as calculated by the Governor's Office of Planning and Budget according to the procedures and requirements of Section 63J-3-202. See Utah Code 63J-3-103Revenues: means the revenues of the state from every tax, penalty, receipt, and other monetary exaction and interest connected with it that are recorded as unrestricted revenue of the General Fund and from non-Uniform School Fund income tax revenues, except as specifically exempted by this chapter. See Utah Code 63J-3-103State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 |
| (2) |
For each of these fiscal years, the annual legislative appropriations for this state, its agencies, departments, and institutions may not exceed that sum determined by applying the formula B* P* (I/100) in which:
| (a) |
“B” equals the base year real per capita appropriations for the state, its agencies, departments, and institutions; |
| (b) |
“P” equals the most recent fiscal year‘s population; and |
| (c) |
“I” equals the most recent fiscal year’s inflation index adjusted to reflect fiscal year 1989 as having an index value of 100. |
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