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Professional Fiduciaries Bureau projects stronger reserves for 2024–25; commenters warn of longer-term cost pressures
Summary
The Professional Fiduciaries Bureau presented its 2024–25 fund-condition statement and projections at its advisory committee meeting; the budget office projects a larger reserve but public commenters raised concerns about projected expenditure increases.
At the Professional Fiduciaries Bureau advisory committee meeting in June 2025, Bridal Voo, a budget analyst with the Department of Consumer Affairs budget office, presented the bureau's fund-condition statement and expenditure projections.
Voo told the committee the bureau began fiscal year 2023–24 with a balance of $256,000, collected $842,000 in receipts (including $141,000 in initial license fees and $664,000 in renewals), and expended $797,000, closing the year with a $301,000 reserve (about 4.8 months). For fiscal year 2024–25 the bureau projects just over $1,200,000 in revenue (including…
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