OMB says June close could boost ending balance; budget section approves three emergency spending requests

Joe Morrissette of the Office of Management and Budget told the Budget Section the estimated general fund ending balance for the biennium on June 30, 2025, is $1,154,000,000 and that revenue collections through May totaled $5,160,000,000 under the adopted forecast. "The estimated ending balance for this biennium for June 30 of 2025 of 1,154,000,000... closely aligns with what you had expected when you adjourned in May," Morrissette said.

The update matters because the final amounts available for transfers and spending will not be known until agencies complete the June close and the books are finalized. Morrissette told members the month of June typically brings significant transactions — including a biennial Bank of North Dakota dividend and interest on the budget stabilization fund — and that the final figures may not be available until the July close or later. He said the office expects to exceed the adopted forecast but is sticking with the adopted numbers until June is closed.

During questions,…