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JBC approves drafting to move multiple cash‑fund balances to general fund, including OIT and ARPA transfers
Summary
The Joint Budget Committee approved staff recommendations and drafting authority to transfer several cash‑fund balances into the general fund, including an $11 million OIT transfer, a $1.6 million Pay for Success repeal transfer, a $15 million OEDIT small‑business transfer, and a $16.5 million ARPA refinance transfer; members pressed for clearer ARPA accounting and TABOR treatment of a proposed $110 million Prop. 1 diversion.
Andrew McClear, JBC budget staff, told the committee the first action was a memo requesting that the Office of Information Technology transfer $11,000,000 from its revolving fund to the general fund, saying staff projections show balances allow the transfer and recommending approval. The committee approved that recommendation, with the motion passing and a roll‑call recorded as the transfer passing with one member excused.
McClear also described a governor’s Office/OSPB request to repeal an inactive Pay for Success contracts program and transfer $1.6 million back to the general fund; staff recommended approval and asked permission to work with the Office of Legislative Legal Services to draft implementing legislation. McClear said the program’s final Pay for Success contract expired in FY23‑24 and that the fund appears dormant.
On economic recovery supports, the committee considered an OEDIT request to transfer $15,000,000 from the Small Business Recovery and Resilience Fund (which supports a first‑loss “climber” loan program). McClear said the fund’s current balance is $34,000,000 and that approval would reduce it to approximately $19,000,000; staff recommended approval and asked that the transfer be included in the omnibus cash‑fund transfer bill. Senator Bridges objected to removing funds from a program he said he values, but ultimately the committee authorized drafting and inclusion in the transfer bill by a 5–1 vote.
McClear later presented a transfer request tied to the ARPA refinance state money cash fund: staff recommended transferring $16,500,000 to the general fund to account for FEMA reimbursements that increased available cash in the fund. That motion passed unanimously.
Separately, OEDIT proposed using statutory changes to divert $110,000,000 in income‑tax revenue currently allocated under Proposition 1 23 for balancing purposes in FY25‑26; staff said a key open question is how the state controller would treat any such diversion under TABOR and emphasized the need for the March forecast or an explicit TABOR exemption before a final recommendation. The committee authorized drafting to explore legal treatment and to begin dialogue with drafters, with staff noting OLLS can investigate technical and TABOR issues.
Members repeatedly asked for clearer accounting on how much ARPA money remains uncommitted and whether FEMA reimbursements should be shown in future memos. McClear and other staff said they would work to include more transparent reconciliations in follow‑up memos.
The committee’s actions are procedural steps authorizing drafting and transfer bills; final statutory changes and transfers will require subsequent legislation or inclusion in omnibus transfer language under the regular bill process.
