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Legislative analysts: Public Education Stabilization Fund at roughly $250.8 million, roughly $189.6 million below 15% cap
Summary
A Legislative Services Office analyst told Idaho's Joint Finance-Appropriations Committee that the Public Education Stabilization Fund (PSIF) held about $250.8 million on July 1, 2024, leaving roughly $189.6 million of headroom before reaching the 15% statutory cap established by recent legislation.
Jared Tedrow, deputy division manager in the Budget Policy Analysis Division of the Legislative Services Office, told the Joint Finance-Appropriations Committee on Wednesday that the Public Education Stabilization Fund, or PSIF, is intended to act as a safety net for the public school support program appropriations.
"Public Education Stabilization Fund or PSIF . . . acts as a safety net for the public school support program appropriations," Tedrow said during the committee's fund review presentation.
Tedrow said the legislature historically capped the fund at 8.334 percent of state funds appropriated to public schools, but House Bill 521 increased that cap to 15 percent. He cited a statutory review requirement when withdrawals occur, saying "Idaho code section 30 three-one 18 C requires JFAC to…
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