Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fy24 Surplus topic
No spam. Unsubscribe anytime.
REC recognizes $595 million FY24 year-end surplus for appropriation availability
Summary
The Revenue Estimating Conference recognized a JLCB-certified FY24 surplus of $595,087,982 as nonrecurring and available for appropriation after staff presented the certification for the record.
Tanisha Hutchinson of the Office of Planning and Budget told the panel that the Joint Legislative Committee on the Budget certified a FY24 year-end surplus of $595,087,982.
"At the January JLCB, the commissioner certified the 20 three-twenty 4 year end balance of $595,087,982 for the surplus," Hutchinson said, and asked the REC to recognize the surplus so it would be available for expenditure.
The REC moved to recognize the FY24 surplus as nonrecurring; President Henry moved and Commissioner Barra seconded, and the motion carried without objection. Staff noted that recognizing the surplus makes the funds available for appropriation by the legislature but does not itself appropriate the funds.
No additional questions were raised at the meeting.
