JFAC analyst reports $442 million projected ending General Fund balance; uncertainty remains

Keith Bybee, Division Manager of Budget Policy Analysis with the Legislative Services Office, briefed the Joint Finance-Appropriations Committee on March 7 on the General Fund outlook and noted a projected ending balance of approximately $442 million for fiscal year 2025. Bybee said the committee had set a FY2026 revenue estimate of $6.4 billion and that House Bill 40 had been signed into law the day before. He listed a number of bills (including House Bill 40, House Bill 93, House Bill 144 and House Bill 231) that affect revenues and appropriations; several remained on the governor’s desk or in process. Bybee told members that FY2026 appropriations work would continue and that while the FY2025 ending balance appeared positive, there were many moving parts still to resolve. He also noted that available revenues for 2026 face "significant calls" from pending committee actions and that some corrections had been made to the governor’s revised budget figures. Committee members did not take a formal vote on the overview; Bybee answered clarifying questions and stood ready to provide further detail as the committee continued budget negotiations.