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JFAC approves four new examiner positions in Department of Finance, adds $642,800 in dedicated funds
Summary
The committee approved four full‑time positions for the Department of Finance—two for financial institutions examiners, two for cybersecurity/forensic roles in the securities and consumer bureaus—plus IT hardware funding, totaling $642,800 from dedicated funds for FY2026.
The Joint Finance‑Appropriations Committee approved four new full‑time equivalent positions and $642,800 in dedicated funds for the Department of Finance for FY2026.
Analyst Noah Peterson said the department’s single budgeted program houses three bureaus: Financial Institutions, Consumer Finance and Securities. The approved package added two examiners for the Financial Institutions Bureau (one with an IT focus), two positions for the Consumer Finance Bureau (primarily IT examination) and one cybersecurity/forensic accounting examiner for the Securities Bureau; the committee reduced the agency’s original FTP request by two positions during working‑group negotiations and the motion reflects the adjusted count. The package also included $52,600 for IT hardware as recommended by the Office of Information Technology Services.
Representative Furness moved the motion, which Senator Cook seconded. The motion passed on a combined committee vote of 15 ayes and 5 nays (Senate 7‑3‑0; House 8‑2‑0), and the chair announced it will carry a due‑pass recommendation.
During discussion members cited statewide cybersecurity concerns. One member noted FBI data that in 2023 approximately $33.8 million in fraud losses were reported in Idaho with about $20 million of that affecting senior citizens; proponents of the positions said the new examiners would help address fraud and cyber risk.
The committee’s action funds positions designated for particular bureaus but analysts said the positions will be interchangeable across the department. The appropriation is drawn from dedicated funds that support the Department of Finance’s regulatory work.
