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Legislative analysts: Public Education Stabilization Fund at $250.8 million, 15% cap leaves room for more deposits
Summary
Legislative Services Office staff reviewed the Public Education Stabilization Fund (PSIF), reporting a $250.8 million cash balance, a statutory cap increased to 15% of state school funding, and a remaining capacity before the cap of roughly $189.6 million.
Jared Tedrow, deputy division manager in the Budget Policy Analysis Division of the Legislative Services Office, told the Joint Finance-Appropriations Committee that the Public Education Stabilization Fund (PSIF) held $250,880,000 as of July 1, 2024.
Tedrow said PSIF acts as a safety net for the public school support program: withdrawals occur when appropriations fall short and deposits occur when appropriations exceed the formula set in state law and committee guidance. He said the statutory cap, historically 8.334 percent of state funds appropriated to schools, was increased to 15…
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