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DCA: Professional Fiduciaries Bureau shows roughly a year in reserve but faces long‑term cost pressures
Summary
A DCA budget analyst told the Professional Fiduciaries Bureau Advisory Committee the fund currently holds roughly 12–13 months in reserve but warned personnel costs and future legislation could increase expenditures; public commenters urged fee changes and other fixes to avoid future shortfalls.
Brendan Vu, a budget analyst with the Department of Consumer Affairs, told the Professional Fiduciaries Bureau Advisory Committee on Dec. 10 that the bureau’s fund condition shows roughly a year of reserve but that personnel adjustments and any new legislation could create long‑term cost pressure.
"The bureau started with a beginning base budget of a little over $1.1 million," Vu said during his slide presentation, and he summarized prior‑year actuals, current‑year revenue projections and projected…
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