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Subcommittee briefed on funding risks: federal and other funds reliance, uncollected debt and reserve funds
Summary
Members and LFO staff flagged fiscal risks for the Transportation and Economic Development subcommittee, including reliance on federal and other funds, $4 billion of uncollected state debt, and the role of reserve funds in smoothing revenue volatility.
Legislative Fiscal Office staff and members used the orientation to flag budgetary risks related to funding sources, uncollected state receivables and reliance on federal and other funds that could shift the subcommittee’s options during final budgeting.
Why it matters: agencies in this subcommittee receive a large share of their resources from non‑general‑fund sources—federal grants, fee revenue and other funds—and those revenue streams can vary. The subcommittee was also reminded that the state has a nontrivial amount of uncollected debt that affects fiscal capacity.
LFO exp…
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