Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Department Of Finance topic
No spam. Unsubscribe anytime.
JFAC approves four new examiner positions for Idaho Department of Finance
Summary
The committee approved four full‑time positions and $642,800 in dedicated funds for examiners, including IT and forensic accounting specialists, after analysts highlighted cybersecurity and financial fraud concerns.
The Joint Finance‑Appropriations Committee on March 20 voted to add four full‑time positions and $642,800 from dedicated funds to the Department of Finance budget for FY 2026, the committee announced after a motion by Representative Furness.
Noah Peterson, budget and policy analyst with the Legislative Services Office, told the committee the department’s single program contains three bureaus (Financial Institutions, Consumer Finance and Securities) and requested five enhancements totaling six FTPs. The committee approved four of the requested positions: two financial examiners for the Financial Institutions Bureau (one with IT focus), two examiners for the Consumer Finance and Securities bureaus with IT and cybersecurity focus, and a forensic accounting specialist for the Securities bureau. Also approved was $52,600 for IT hardware as recommended by ITS.
Representative Furness moved the package and Senator Cook seconded. Supporters cited rising cybercrime losses: a committee member noted FBI figures that Idaho losses exceeded $38 million in 2023, including about $20 million from seniors age 60 and over, and argued additional cybersecurity capacity is needed.
On roll call the combined committees recorded 15 ayes, 5 nays and 0 absent/excused; the motion passed and will carry a due‑pass recommendation. Committee discussion emphasized the need for specialized IT and forensic accounting skills within the department to investigate and prevent financial fraud and cybercrime.
