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Council hears governor’s 2026 supplemental budget outlook; motion to adopt fails
Summary
The Economic and Revenue Forecast Council was briefed on the governor’s 2026 supplemental budget outlook and methodology by Office of Financial Management staff. A motion to adopt the outlook failed after members raised concerns about reversion assumptions and separation of powers; staff will post alternative outlooks.
The Economic and Revenue Forecast Council on Jan. 27 was briefed by Office of Financial Management staff on the governor’s 2026 supplemental budget outlook and the methodology used to produce it, but the council did not adopt the outlook as presented.
Rachel Knudson, senior budget advisor at the Office of Financial Management, walked the council through the methodology document and the outlook balance sheet displayed on-screen. Knudson emphasized that “all the numbers on the balance sheet are in millions” and identified the near‑general‑fund accounts included in the outlook: the general fund, the Education Legacy Trust Account, the Opportunities Pathways Account, the Workforce Education Investment Account and the Fair Start…
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