State fiscal status shows $159.2 million excess this year; five‑year baseline projects multi‑year deficits

The Office of Planning and Budget reported to the Joint Legislative Committee on the Budget that the State General Fund shows an excess balance of $159,200,000 in the current year, and five‑year baseline projections show shortfalls in several coming fiscal years.

"Starting with the fiscal status statement, you'll notice that on page 1, there have been no changes from the previous month. The resulting excess balance in State General Fund in the current year is $159,200,000," said Julia Gradney of the Office of Planning and Budget as she opened the committee presentation. Gradney added that the figure "does not reflect appropriations and requirements from the recent session from the supplemental bill in the Funds Bill."

The office reported the remaining estimated State General Fund balance after those actions is $71,226. In the five‑year baseline projection the office presented, projected balances are: a negative $55,000,000 in FY 2026; a positive $12,200,000 in FY 2027; a negative $415,700,000 in FY 2028; and a negative $382,700,000 in FY 2029.

There were no questions recorded from committee members on the fiscal status statement or the five‑year baseline. Representative MacMahon moved to accept the fiscal status statement "as presented," and the motion carried with no opposition.

The presentation and the committee vote were procedural approvals; no new appropriations or policy changes were made during the meeting. The Office of Planning and Budget noted that the fiscal figures presented do not yet incorporate some actions from the recent legislative session.