Legislative staff present $700 million structural surplus, governors budget adds one-time transfers

Summary

Legislative Services Office analysts told the Joint Finance-Appropriations Committee that Idaho's updated revenue forecast and the governor's recommendations leave a roughly $700 million structural balance in both FY2025 and FY2026, while proposing transfers to other funds and programmatic enhancements that will reduce net general-fund cash.

Good morning, Chairman Growe and members of the committee. My name is Keith Bybee. I'm the division manager of budget policy Analysis for Legislative Services Office. Today my presentation is going to cover, FY 2025 and FY 2026 budget overview. (Keith Bybee, Legislative Services Office)

Legislative staff told the Joint Finance-Appropriations Committee (JFAC) that Idaho's general fund revenue picture has shifted upward since the fall forecast and the governor's budget increases the baseline for 2025 and 2026. Bybee said the state recorded $5.7 billion in general-fund collections in 2024 and that the governor's recommendation lifts 2025s baseline revenue to about $5.9 billion. Using those figures and the governor's projected expenditures, staff estimated a structural balance of roughly $700 million across the next two fiscal years.

Why it matters: that structural balance is the gap between ongoing revenues and ongoing obligations used by budget-makers to test whether…

Legislative staff present $700 million structural surplus, governors budget adds one-time transfers

Summary

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