JFAC adds examiners and IT hardware to Department of Finance budget

Noah Peterson, a Legislative Services Office analyst, presented the Department of Finance budget and explained the department’s single program houses three bureaus: Financial Institutions, Consumer Finance and Securities. He described five enhancement requests to add a total of 6 FTP in the agency request but the committee approved four additional FTP and IT hardware funding as part of the maintenance action.

Mr. Peterson said the requests targeted gaps in IT and cyber‑related expertise across bureaus, including a financial institutions IT examiner, non‑IT financial examiner, two Consumer Finance IT examiners and specialized roles in the Securities Bureau such as a cybersecurity examiner and a forensic accounting specialist. He also summarized a $52,600 request for IT hardware recommended by the Office of Information Technology Services.

Representative Furness moved the committee’s maintenance package, which added four full‑time equivalent positions and $642,800 from dedicated funds for the Department of Finance. Representative Furness and Senator Cook spoke in favor, with members noting the increase in cyber‑fraud losses reported by FBI statistics and the need for heightened cybersecurity and investigative capacity.

The motion passed on roll call. Combined committee totals reported were 15 ayes, 5 nays, 0 absent (Senate: 7 aye, 3 nays; House: 8 aye, 2 nays). The approved funding covers the four examiner positions and the IT hardware line noted on the record.

The committee did not adopt the larger package of six FTP reflected in the department’s original request; the adopted positions are designated for the bureaus but may be cross‑deployed across the agency as needed.