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Committee briefed on cash reconciliation; staff says bond‑levy equalization closeout returns $62.8 million to general fund
Summary
Legislative budget staff walked JFAC through the general fund cash reconciliation and transfers. Staff identified executive carryforward and reappropriation mechanics and said House Bill 521 closed the old bond levy equalization program; remaining cash from that program — about $62.8 million — is being returned to the general fund.
Legislative staff explained the items that drive the general fund cash reconciliation and described several transfers and one‑time adjustments the governor proposes for FY2025 and FY2026.
"Reappropriation would be ... money that was appropriated in fiscal year 2024 that wasn't spent," Keith Bybee of the Legislative Services Office said, explaining that reappropriation preserves authorized spending authority for projects that cross fiscal years. He said executive carryforward performs a similar accounting role for the executive branch to obligate contracts that…
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