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Fiscal staff: state entering session with large beginning balance, oil revenues driving extra dollars
Summary
Legislative fiscal staff told the Appropriations Committee the state has a healthy beginning balance driven by turnbacks and high oil prices, outlined oil tax allocation choices, and explained how those figures affect budget options for infrastructure and one-time projects.
Alan Knudson, fiscal staff with the Legislative Council, told the House Appropriations Committee that the state is entering the 2025–27 budget cycle with an unusually large beginning balance and several one-time revenue sources that will affect lawmakers' choices.
Knudson said the gray portion of the general fund chart — the beginning balance — has exceeded $1 billion for the last three sessions and that the governor's budget assumes using approximately $200 million of budget-stabilization-fund money to shore up the general fund. He said "turnback" — agency unspent appropriations carried into the next biennium — is estimated by OMB at roughly $225 million for the upcoming…
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