The Utah State Legislature's Federal Funds Commission has unveiled the state's newly created Federal Funds Risk Model (FFRM) dashboard. Citizens can find the new tool at federalrisk.le.utah.gov
Utah receives $3.8 billion in federal funds, which is 26 percent of the state's operating capital budget. Federal funding is now tied with income taxes as the state's largest single revenue source.
The UACPA's CEO and Commission Member Susan Speirs says "This dashboard can be used to model the effects of the next federal government shutdown, fiscal cliff, or sequester. When the federal government contemplates changes to national fiscal policy, we can use the FFRM dashboard to assess potential impacts and prepare."
The dashboard will be used to model potential loss scenarios and help the state develop strategies to mitigate such loss through expectation setting, debt capacity management, and contingency fund development.