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JFAC approves year‑end cash transfers and fund consolidations including bond levy equalization and legislative legal defense moves
Summary
JFAC approved a set of year‑end cash transfers and fund consolidations, including retaining the budget stabilization fund balance, transferring bond levy equalization funds to the General Fund (net ≈$37M), moving Constitutional Defense Fund balances into the Legislative Legal Defense Fund, and transferring the Governor’s Emergency Fund balance to the General Fund.
The Joint Finance‑Appropriations Committee approved several year‑end transfers and accounting directions to reconcile fund balances ahead of fiscal year end.
Keith Bybee, division manager for budget and policy analysis, summarized four actions. First, the committee used unanimous consent to direct the State Controller to retain the Budget Stabilization Fund balance rather than making a deposit that would push the fund above its statutory…
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