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Board of Pharmacy seeks modest salary increase, $500,000 PBM audit authority
Summary
The Board of Pharmacy requested a 1.88% salary increase tied to evaluations, one vehicle this cycle, and continued spending authority for prescription‑benefit manager (PBM) audits up to $500,000; the board reported a cash balance of about $6.8 million.
Susan McCoy, executive director of the Board of Pharmacy, told the Appropriations Subcommittee the agency’s finances are stable and its primary requests this year are a small salary increase and continued spending authority for PBM audits.
McCoy said the board seeks a 1.88% salary increase for staff, given performance evaluations, and that the agency is again requesting a vehicle this year (it asked for two last year but received one). She said the board is also seeking continued spending authority of $500,000 to fund PBM audits and compliance work that the board began under prior budget authority.
On the board’s balance, McCoy reported a cash balance of about $6,800,000 and said the agency is treating that as a rainy‑day fund because federal or administrative changes — including potential action by the U.S. Food and Drug Administration or new licensure rules for wholesalers and third‑party logistics providers — could change revenue streams.
Committee members described the budget as reasonable and thanked the agency for fiscal restraint. The subcommittee did not take formal action at the hearing.
