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Governor's "keeping promises" budget: education, water, transport, fire and reserves highlighted
Summary
Division of Financial Management Administrator Lori Wolfe presented the governor's executive budget to JFAC, proposing increased funding for public schools, teacher pay and health insurance, workforce training and transportation capacity, while preserving transfers to rainy day funds and a $100 million hold for tax relief.
Lori Wolfe, administrator of the Division of Financial Management, presented the governor's executive budget to the Joint Finance and Appropriation Committee on Tuesday, outlining revenue estimates, recommended maintenance funding and a $151 million package of recommended enhancements for fiscal year 2026.
"As you heard from Governor Little yesterday, this is his 'keeping promises' budget," Wolfe said, summarizing the administration's priorities of education, tax relief, regulatory reform and investments in state infrastructure.
Wolfe said the administration used a conservative revenue forecast for FY26 and recommended maintaining structural balance while increasing rainy-day reserves. Her slides — distributed as an "at-a-glance" summary — showed a projected FY26 ending general fund balance of about $227 million after transfers, with a recommended $59 million transfer to the Budget Stabilization Fund and $50 million to the Public Education Stabilization Fund. Wolfe said those transfers would leave a revert reserve near $1.4 billion, about 22% of the…
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