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Committee briefed on FY2025–26 forecast: governor’s plan shows $338 million FY2025 ending balance, $227 million for FY2026
Summary
Legislative analysts told the Joint Finance‑Appropriations Committee the governor’s FY2026 recommendation keeps a multi‑year structural surplus while proposing transfers and one‑time spending; committee members pressed for detail on bond, fire and school‑funding moves.
Keith Bybee, division manager for budget policy analysis with the Legislative Services Office, briefed the Joint Finance‑Appropriations Committee on the state’s FY2025 and FY2026 budget outlook and the governor’s recommendations.
Bybee told the committee the governor’s plan projects a $338 million ending cash balance for FY2025 and a $227 million projected ending balance for FY2026 under the governor’s recommendations. He described a multi‑year “structural balance” — about $700 million in the near term — arising from revenue growth since 2020 and current revenue forecasts.
The overview emphasized why the state’s revenue picture grew rapidly during the COVID years: federal relief programs and unusually large personal‑income growth. Bybee said, “If a budget is a statement of your values, your previous legislatures have done you a big favor, by setting you up for success,” and warned the committee that the key choices this…
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