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Lawmakers press officials on using PSIF interest and fund balances to plug budget shortfalls
Summary
DFM and LSO representatives told JFAC the governor recommended limited use of PSIF balances and a one‑time transfer of interest earnings to the general fund to reduce cuts; lawmakers expressed concern about repurposing education-dedicated interest and requested more detail on balances and statutory authority.
Committee members pressed the Department of Finance and Management and the Legislative Services Office about the governor's recommendation to use Public School Income Fund (PSIF) resources to reduce cuts in the FY2027 budget.
Laurie Wolf, administrator for the Division of Financial Management, said the governor's recommendation included four statutory exceptions and that moving interest earnings from PSIF to…
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