JFAC adds four examiners, hardware for Department of Finance; $642,800 from dedicated funds

The Joint Finance-Appropriations Committee on March 20 approved four full‑time financial examiner positions and $642,800 in dedicated funds for the Department of Finance’s FY2026 budget, including IT hardware and specialists focused on IT examination, cyber security and forensic accounting.

Noah Peterson, a budget and policy analyst with the Legislative Services Office, told the committee the agency’s single program contains three bureaus: Financial Institutions, Consumer Finance and Securities. Peterson outlined five enhancement requests that together requested six FTPs; the committee approved four FTPs targeted to bureau needs and added $52,600 for IT hardware recommended by the Office of Information Technology Services.

The approved positions include: a Financial Institutions IT examiner and a general Financial Institutions examiner (one FTP each), two Consumer Finance IT-focused examiners (two FTPs), a securities-bureau IT/cybersecurity examiner, and a forensic-accounting specialist for securities investigations were requested by the agency; the committee ultimately approved four additional FTPs and the IT hardware request as moved on the floor. Representative Furness moved the package and Senator Cook seconded.

Representative Furness noted a prior working-group reduction of two FTPs (saving $246,000) and emphasized rising cyber threats in Idaho, citing FBI-reported losses in 2023 related to cyber fraud. The roll call produced a combined committee total of 15 ayes and 5 nays; the motion passed and will carry a due-pass recommendation.

The approved hardware funding and examiners are intended to increase the department’s capacity for IT-focused examinations, cybersecurity oversight and financial investigations, particularly in areas where bureau expertise was previously limited, according to the analyst.