Utah government agencies are pushing closer to the limit on the amount of debt they can take on at one time under the Utah Constitution, according to a year-end state financial analysis by the state’s finance division.
Utah now has $3.87 billion in various kinds of debt and long-term liabilities. It owes nearly $2.2 billion in general obligation bonds alone, or about $719 for every Utahn, according to the analysis released Tuesday, known as the Comprehensive Annual Financial Report. That’s about 74 percent of the debt policymakers can issue, which is 1.5 percent of the total amount of taxable property in Utah.