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JFAC funds most Department of Finance enhancement positions, approves five FTEs
Summary
The committee approved funding for five full-time equivalent positions requested by the Department of Finance, including IT-focused examiners, a forensic accounting specialist and cybersecurity-focused positions.
Noah Peterson, budget and policy analyst with the Legislative Services Office, presented the Department of Finance's enhancement requests on Feb. 14, which sought six full-time equivalent positions and related IT hardware to strengthen examinations, forensic accounting and cybersecurity capacity.
The department requested six FTP and $888,800 in total; the governor recommended four of the six FTP. Senator Hart moved a motion to add five FTP totaling $765,800 from dedicated funds and to approve the specific positions described: an IT-focused financial institutions examiner, another financial institutions examiner, two examiner-investigator positions for the Consumer Finance Bureau, a securities-bureau cybersecurity examiner and a forensic accounting specialist for investigations, plus $52,600 for IT hardware. Representative Galaviz seconded the motion.
The motion passed on recorded votes: the Senate recorded 8 ayes, 1 nay, 1 absent and excused; the House voted unanimously for a combined tally of 18 ayes, 1 nay and 1 absent and excused. The motion will carry a due-pass recommendation.
Committee members briefly clarified the number of FTEs approved; Senator Cook asked for confirmation that the adopted package added five FTEs rather than seven, which was confirmed on the record.
