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Legislative analysts say Public Education Stabilization Fund holds roughly $250.9 million, below 15% cap
Summary
Legislative Services Office staff told the Joint Finance-Appropriations Committee the Public Education Stabilization Fund (PSIF) has a cash balance well below the statutory 15% cap and described recent deposits, withdrawals and a governor-proposed transfer.
Jared Tedrow, deputy division manager in the Legislative Services Office's Budget Policy Analysis Division, told the Joint Finance-Appropriations Committee that the Public Education Stabilization Fund (PSIF) acts as a safety net for the state’s public school support program appropriations.
“Public Education Stabilization Fund or PSIF is, it acts as a safety net for the public school support program appropriations,” Tedrow said, describing the fund’s role when appropriations are higher or lower than projected.
Tedrow told the committee the PSIF historically used a cap of 8.334 percent of state funds appropriated to public schools; House Bill 521…
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