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Joint Fiscal Office staff brief House Commerce & Economic Development on reports, fiscal notes and services
Summary
Staff from the Joint Fiscal Office met with the House Commerce & Economic Development Committee on Jan. 10 to introduce office services, explain statutory reports and fiscal notes, and describe upcoming publications including a Basic Needs Budget and a TIF report.
Staff from the Joint Fiscal Office (JFO) introduced themselves and their duties to the Vermont House Commerce & Economic Development Committee on Friday, Jan. 10, outlining how the office supports lawmakers with fiscal notes, statutory reports and issue briefs ahead of the 2025 session.
The JFO’s senior fiscal analyst Patrick Tiverton told the committee that his portfolio covers tax policy and economic development topics and that the office “distilled down to 1 point as we do the money.” He said he helps the committee make sure appropriations align with the overall balanced-budget work of the Appropriations Committee and that members should contact JFO for program-level spending and fund-balance questions.
Ted Barnett, another senior fiscal analyst with JFO, described his work on tax increment financing (TIF) reports, consumption taxes, agency fees and the property transfer tax. Barnett said JFO is producing a TIF report and that the office is preparing standard documents lawmakers rely on, including fiscal notes attached to bills.
Why it matters: Committee members said they rely on the nonpartisan JFO for both one-off analysis and recurring statutory reports that affect whether proposed spending can be funded. Tiverton and Barnett briefed members on the difference between statutory reports, issue briefs and fiscal notes and previewed materials members will receive as the session progresses.
JFO publications and processes outlined
- Fiscal Focus newsletter: JFO distributes a quarterly newsletter (referred to in the meeting as the fiscal newsletter) summarizing how state revenues compare to the consensus forecast and highlighting items that could affect the contingent or “waterfall” list of funding priorities.
- Fiscal Facts booklet: Tiverton said the office will issue a “fiscal facts” booklet next month with five-year revenue and budget history that members use as a first-stop reference.
- Statutory reports: Tiverton noted some reports are required by statute (he cited Act 69 of 2017 as an example of report-related statute) and said JFO will publish the Basic Needs Budget report and the TIF report the following Wednesday.
- Fiscal notes: Barnett explained fiscal notes accompany bills and describe fiscal implications including appropriations, fees or tax changes. He said fiscal notes vary widely in length—from a half-page summary to reports exceeding ten pages—depending on complexity.
How members should use JFO
Tiverton urged members to consult JFO early when they are “noodling on some idea,” saying staff can help with background, appropriations crosswalks and whether funds remain in particular programs. He described the office as nonpartisan and set up to serve members across party lines.
Questions from committee members also covered whether JFO breaks out data by regions and industries. Tiverton replied JFO’s core charge is statewide fiscal health but said the office can and does produce regional and industry-specific analyses when requested, and it coordinates with agencies such as the Agency of Commerce and Community Development (ACCD) and the Department of Labor.
No formal actions or votes were taken at the briefing. The meeting closed after members thanked the JFO analysts and were reminded to request follow-up information by contacting staff.
