Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Interfund Borrowing topic
No spam. Unsubscribe anytime.
Treasury reports negative general-fund cash and interfund borrowing details; no action taken
Summary
A state treasury representative told the Revenue Estimating Conference the general fund cash balance was approximately negative $561.8 million as of Sept. 14 and reported $851.9 million moved out of the general fund at the close of fiscal 2025; the conference received the interfund borrowing status report and took no formal action.
A representative of the State Treasury presented the interfund borrowing status report to the Revenue Estimating Conference and said that, "as of September 14, the state is currently operating, general fund cash in the negative of approximately 561,800,000.0." The presenter said that at the close of fiscal year 2025, a total of 851,900,000.0 was moved out of the general fund "per the constitution from corporate franchise and individual income taxes." The presenter also reported the state's interfund borrowing base was 10,100,000,000.0 and referred participants to packet graphs showing monthly and daily general fund cash comparisons.
No motion was necessary or taken on the report; President Henry moved to adjourn later in the meeting. The transcript does not record questions or further discussion about borrowing mechanics, the constitutional provision cited, or steps to address the negative cash position. The presentation was informational and recorded as part of the conference's agenda; no roll-call votes or directives were recorded.
