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Joint Finance staff present statewide budget decision choices: revenue forecasts, benefit costs and compensation options
Summary
Legislative staff presented the Joint Finance Committee with options for the FY2026 revenue forecast and statewide budget decisions, including personnel benefit costs, contract inflation, statewide cost allocation and competing change‑in‑employee‑compensation (CEC) packages.
Legislative staff briefed the Joint Finance Committee on the statewide decision packet that will guide FY2026 appropriation work. The packet lays out alternatives for general‑fund revenue assumptions, personnel benefit cost adjustments, contract inflation, statewide cost allocation updates and change‑in‑employee‑compensation (CEC) proposals.
Revenue options: The packet presents two alternatives for FY2026 general‑fund revenue. The governor’s revenue estimate included in the packet is $6.26 billion; the Economic Outlook and Revenue Assessment Committee’s (EORAC) recommendation provided as an alternative is $6.40 billion. Committee members will select a revenue forecast…
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