Governor’s executive budget emphasizes education, transportation, wildfire funding and public defense; DFM presents conservative revenue outlook

Laurie Wolf, administrator of the Division of Financial Management, presented the governor’s executive budget to the Joint Finance and Appropriations Committee, describing a structurally balanced proposal that maintains healthy ending balances while recommending targeted enhancements and transfers. Wolf told the committee the governor’s “keeping promises” budget focuses on education, transportation, workforce training, water and wildfire management, cybersecurity and public defense.

The presentation stressed conservative revenue forecasting and reserves. Wolf summarized the budget’s headline fiscal posture: an FY2025 projected ending balance of about $383 million and an FY2026 projected ending balance of about $227 million after recommended transfers. The proposal includes transfers of $59 million to the budget stabilization fund and $50 million to a public education stabilization fund; DFM said those transfers align with statute and would leave a revert reserve balance it described as historically large (about $140 million, roughly 22% of the budget reserve cited in the presentation).

Wolf said the governor recommends $151 million in total agency enhancements (ongoing and one-time) and highlighted principal priorities:

- Education: Wolf said the governor “continues to make investments in children and their educational successes,” proposing an…