Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Legislative analysts report Public Education Stabilization Fund at $250.8 million; cap raised to 15% by recent law
Summary
Legislative Services Office presented a status update on the Public Education Stabilization Fund (PSIF), reporting a $250.8 million cash balance, monthly interest income, and a remaining $189.6 million gap to the 15% cap established by recently passed legislation; the governor has proposed a $50 million transfer in 2026.
Jared Tedrow, deputy division manager in the Legislative Services OfficeBudget Policy Analysis Division, told the Joint Finance-Appropriations Committee that the Public Education Stabilization Fund (PSIF) held $250,880,000 as of July 1, 2024, and is generating roughly $8.9 million a month in interest.
The fund acts as a safety net for the public school support program appropriations: when appropriations exceed available revenues the fund may be drawn down; when appropriations are underspent, deposits can be made to the fund, Tedrow said. He noted that a cap on the fund was…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
