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An excerpt from page 4 of the 2007-2008 Appropriations Report.

Structural Balance

Utah's budget for FY 2008 has a $5 million structural surplus. From a bond rating agency's point of view, that is a positive thing.

Rating agencies like Standard and Poor's, Moody's, and Fitch rank a state's creditworthiness based in part on the state’s abilities to meet its future obligations. Since a structural surplus means that ongoing revenues are greater than ongoing obligations, rating agencies view them positively. Utah has a AAA rating from each of the three rating agencies, and the FY 2008 structural surplus will help to protect that rating.

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