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Legislative analysts review Public Education Stabilization Fund as balance approaches 15% cap
Summary
Legislative Services Office analysts told the Joint Finance-Appropriations Committee the Public Education Stabilization Fund (PSIF) has a $250.8 million balance and could absorb roughly $189.6 million more before reaching a 15% statutory cap; analysts outlined how recent law and past transfers change where excess funds would flow.
Members of the Joint Finance-Appropriations Committee heard a status update on the Public Education Stabilization Fund on Wednesday from Jared Tedrow, deputy division manager in the Legislative Services Office.
Tedrow told the panel the fund “acts as a safety net for the public school support program appropriations,” explaining that the fund receives deposits when appropriations are less than formula requirements and can be drawn on when appropriations fall short. He said…
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