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Budget analyst reports $442 million projected FY25 ending balance; revenue baseline set for FY26
Summary
Legislative budget analyst Keith Bybee told JFAC that after adding recent supplemental items the projected FY2025 ending General Fund balance is about $442 million and that the committee set a FY2026 revenue baseline of $6.4 billion while several tax bills have landed on the governor's desk.
Keith Bybee, Division Manager of Budget Policy Analysis, provided a General Fund update to JFAC on March 7, reporting a projected FY2025 ending balance and the committee’s FY2026 revenue assumptions.
Key figures and status: Bybee said that after adding Department of Corrections supplementals, the projected FY2025 ending balance stood at approximately $442,000,000 but cautioned that “there [are] still some significant action to be taken in 2025.” For FY2026 the committee set a revenue baseline of $6,400,000,000. Bybee reported that House Bill 40 was signed into law the prior day and that other tax-related legislation was in process; he also noted activity on judicial bills (Senate Bill 1028, Senate Bill 1029) and a judicial-salary measure (House Bill 322) still under consideration.
Expenditures and pressure points: Bybee said appropriations to agencies are currently about 3% above the FY2025 original appropriation (about $155 million more), with increases driven in part by health insurance costs and CEC this year. He also noted continued legislative activity and new legislation being printed daily, which creates moving parts for budget tracking.
Ending: Bybee offered to answer questions and the committee proceeded with scheduled budget items. Committee members did not take formal action to change the revenue baseline during his presentation; the numbers he cited informed subsequent deliberations.
