First, let's have a look at the current snowpack situation. The Bear, Weber, Ogden, and Provo/Jordan river basins are all sitting at about 75% of average snowpack.
Thursday will easily be the warmest day of the year. Portions of the Salt Lake Valley will see maximum temperatures in the low 70s. I think 70ºF will be broken at the Salt Lake Airport if the lake breeze is kept at bay.
All of this means that we will be chipping away at the mountain snowpack during a month that is critical for building the snowpack for the spring runoff. Ideally, you want the mountain snowpack to build into April, followed by a rapid melt and runoff pulse over about a six week period during the late spring. This maximizes the fraction of snow that is converted to runoff. A slow melt of a meager snowpack over an extended period results in a weaker pulse. Not only is the water stored in the snowpack lower, but the fraction of snow converted to runoff is lower because you lose more of it to evaporation, sublimation (ice converting to water vapor), and transpiration by plants (once they become active).
The models suggest a gradual cooling trend after Thursday, but we're only brushed by some weaker systems through the middle of next week. Thereafter, the forecast suggests the dice are loaded for below average precipitation through March 25th.