DFM presents governor's "keeping promises" executive budget: $150M for schools, rainy-day growth and targeted investments

Boise, Idaho ' The governor's executive budget for fiscal 2026, presented Jan. 8 to the Joint Finance-Appropriations Committee, emphasizes education funding, reserves and targeted investments in transportation, water and workforce capacity while holding $100 million for tax relief.

Lori Wolfe, administrator of the Division of Financial Management (DFM), told the committee the proposal is the governor's "keeping promises budget," citing continued commitments "to education, tax relief, red tape reduction, and making government more efficient." She described the plan as structurally balanced and conservative on revenue assumptions while maintaining record rainy-day balances.

The numbers: DFM projects general fund revenue of about $6.2 billion for FY 2026 with a projected ending balance of roughly $227 million after recommended expenditures and transfers. The executive budget recommends a $59 million transfer to the budget stabilization fund and a $50 million transfer to the public education stabilization fund; after those transfers, DFM said the state would maintain a large revert reserve (about $1.4 billion,…