House budget committee approves quarterly expenditures report for fiscal year 2024

The House Fiscal Agency Governing Committee convened on March 20, 2025, to review the fiscal budget and expenditures for the current fiscal year. The meeting began with a presentation from the agency's representative, who outlined the financial status and budgetary allocations.

The representative noted that the total appropriation for the fiscal year 2025 is set at $4.7 million, a figure presented during the previous budget discussions in September and October. It was highlighted that 83% of the budget is allocated to salaries, wages, healthcare, and retirement costs, while approximately 12% is designated for the House Business Office. This latter figure represents unappropriated funds that are typically reserved and not disbursed until the end of the fiscal year.

The committee was informed that, as of the end of February, the agency is currently under budget, with year-to-date expenditures at only 30% of the total budget. The representative explained that this lower expenditure rate is partly due to the timing of payments to the House Business Office, which are made at the end of the fiscal year.

Following the presentation, committee members engaged in a brief discussion, seeking clarification on the fiscal year-to-date figures and the implications of the current spending trends. Representative Hall then moved to approve the quarterly report, which was unanimously supported by the committee members present.

The meeting concluded with the approval of the quarterly report, marking a positive assessment of the agency's financial management as it approaches the end of the second quarter of the fiscal year. The committee's next steps will likely involve continued monitoring of expenditures and preparing for future budget discussions.