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JFAC approves $3.36 million in contract inflation adjustments for FY2026
Summary
The Joint Finance and Appropriations Committee approved the governor's recommended contract inflation adjustments (ongoing increases defined in contracts), totaling $3,356,400 across general, dedicated and federal funds.
The Joint Finance and Appropriations Committee approved the governor's fiscal year 2026 recommendation to adjust operating expenditures and capital outlay for ongoing contract-defined inflation rates, a package totaling $3,356,400 across fund types.
Representative Miller moved the motion to include the governor's request for contract inflation adjustments; Senator Woodward seconded. The motion passed unanimously on a roll-call vote: 20ayes, 0 nays.
Why it matters: Contract inflation adjustments cover scheduled, contractual cost increases such as lease inflators or other multiyear contract escalators. Approving the adjustments ensures agencies have the operating authority to meet those obligations.
Key details: The governor's request totaled $3,356,400, broken down in the motion as $1,291,500 from the general fund, $935,400 from dedicated funds and $1,129,500 from federal funds. The committee referred members to the packet (page 19) for agency-level detail of the contractual increases.
Next steps: The approved amounts will be reflected in agency operating budgets and incorporated into the maintenance budgeting process.
