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Committee discusses treasurer’s budget, unclaimed property transfer and equity funding questions
Summary
Members of the Government Operations Division discussed the state treasurer’s budget, a proposal to transfer unclaimed property staffing and operating authority, and a request for targeted salary equity funding. Committee members debated timing and the fiscal technical changes if the transfer proceeds.
Committee members spent an extended portion of the hearing discussing the treasurer’s budget, focusing on a proposed transfer of unclaimed property functions and a separate request for targeted salary equity funding.
Senator Dwyer said the committee should remove four positions tied to the unclaimed property transfer because the treasurer asked that any transfer not occur until the end of the biennium; other senators agreed removing those FTEs from the current budget would reflect the treasurer’s preference. Staff explained that reversing the transfer would also remove about $687,000 in operating expenses associated with the transfer and roughly $8,000 in one‑time office furnishing costs; those adjustments would return the budget largely to prior (Armstrong) levels, with a few special‑fund items remaining.
Committee members discussed alternatives: leaving statutory (Century Code) changes in place but postponing the effective date to July 1, 2027, or removing the statutory changes entirely and addressing any transfer during the next session or by individual agency bills. Senators expressed sensitivity to agencies wanting advance notice before the committee takes action.
On salary equity funding, senators noted leadership guidance to avoid additional equity pools in the current cycle and questioned whether the treasurer’s office had already received earlier, larger equity adjustments during the last session. The committee directed staff to follow up with Office of Management and Budget (OMB) and other analysts to verify whether positions had already received prior equity increases and to provide a specific recommendation. Members signaled they were unlikely to approve a $100,000 equity request without evidence of an unresolved anomaly.
Ending: The division did not take a formal vote on the treasurer’s budget in the session excerpted; senators instructed staff to prepare amendment language and follow up with agencies and analysts, and they indicated the committee would give agencies notice before taking action.
