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State treasurer certifies budget stabilization fund balance of $1.23 billion; conference records transfer details
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Summary
Katie O'Connor of the State Treasurer's Office reported the budget stabilization fund balance and the Revenue Estimating Conference certified the balance as required by state statute; the treasurer's office said one-third of the beginning balance for FY 2026 is $408,856,980.58.
Katie O'Connor of the State Treasurer's Office reported the balance of the budget stabilization fund as of July 1 for fiscal year 2026 and the Revenue Estimating Conference certified the balance as required by Revised Statute 39:95. O'Connor reported the balance as "$1,226,570,941.74" and said approximately $148,000,000 was transferred into the fund from the State General Fund representing nonrecurring FY 2024 surplus. She also said approximately $20,200,000 of interest earnings was deposited into the fund during the fiscal year and that one-third of the beginning balance for the fiscal year beginning July 1, 2025, is $408,856,980.58.
President Henry moved to certify the budget stabilization fund balance in accordance with Revised Statute 39:95; the motion was seconded by Commissioner Barraz and recorded in the transcript as having "no objections." O'Connor answered a procedural question from President Henry about whether the reported balance was the highest on record; she said she would check with her office and follow up.
The certification is the formal statutorily required reporting of the fund's balance; the transcript contains the reported dollar amounts and the procedural adoption but does not include additional debate or roll-call vote tallies.
