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Joint Fiscal Office outlines Budget Adjustment Act, flags opioid, childcare and nursing facility items
Summary
Emily Byrne of the Joint Fiscal Office gave legislators a primer on the Budget Adjustment Act (BAA), explaining why midyear changes are needed, how revenue forecasts from the Emergency Board affect the work, and highlighting specific items including an opioid settlement allocation, childcare special fund activity and a large nursing-facility sum.
Emily Byrne, deputy director of the Joint Fiscal Office, told the Appropriations Committee that the Budget Adjustment Act is a midyear mechanism to correct assumptions in the current fiscal-year budget and to reallocate newly available or shortfall revenue.
"A budget is just a plan," Byrne said, stressing that projections made during the budget-writing process are routinely updated and sometimes materially different from actual receipts and expenses.
Byrne reviewed why the BAA exists: the Governor signed the FY2025 budget on May 23, 2024, FY25 spending began July 1, 2024, and in the months since the original forecast can change. She said the Emergency Board adopted a revised July revenue forecast that increased projected General Fund receipts by about $172,000,000 for the current year and that the board was scheduled to set a further forecast at its next meeting.
The JFO briefing described common drivers of midyear adjustments: caseload and utilization…
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