JFAC adds four examiners and $642,800 in dedicated funds to Department of Finance budget

The Joint Finance-Appropriations Committee on Thursday approved adding four full-time equivalent positions and $642,800 in dedicated funds to the Idaho Department of Finance for FY 2026.

Noah Peterson, budget and policy analyst with the Legislative Services Office, told the committee the Department of Finance requested five enhancement positions totaling six FTPs overall but the motion before the committee included four FTPs: an IT-focused financial institutions examiner, a general financial institutions examiner, an IT-focused examiner for the Consumer Finance Bureau, and a forensic-accounting financial examiner for the Securities Bureau. Peterson also noted a $52,600 one-time request for IT hardware per Office of Information Technology Services recommendations.

Representative Furness moved the JFAC program maintenance additions, listing FTP counts and dollar amounts for each enhancement; Senator Cook seconded. Members supporting the motion emphasized growing cybersecurity needs and financial fraud concerns; a member cited FBI figures about cyber fraud losses in Idaho in 2023 as context for adding cyber-focused positions.

Roll call produced a committee-level combined vote of 15 ayes and 5 nays; the majority voted in the affirmative in both chambers and the motion will carry a due-pass recommendation.

The approved package adds positions intended to expand IT examination and forensic accounting capability within the department’s bureaus and to purchase a limited amount of IT hardware to support those positions.

The committee did not change statute; the action is an appropriation and position approval to be considered by the full legislature.