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Budget committee hears statewide shortfall; analysts flag use of one‑time transfers and interest to balance FY2026
Summary
Legislative Services Office analysts told the Joint Finance‑Appropriations Committee that a roughly $100 million revenue shortfall and statutory baseline increases have left limited options to rebalance the FY2026 general fund, and the governor’s proposal leans on transfers and interest earnings rather than structural cuts.
Chairman Groh convened the Joint Finance‑Appropriations Committee and invited Keith Bybee, division manager for Budget and Policy Analysis at the Legislative Services Office, to present a statewide budget overview and options for addressing a projected shortfall in fiscal year 2026.
Bybee framed the problem as a revenue‑to‑baseline mismatch driven both by a recent revenue forecast that came in lower than last year’s estimate and by several statutory additions to the baseline. "This committee has control over the budget," Bybee said, urging members to weigh short‑term smoothing against long‑term structural choices.
Why it matters: the committee left last spring with an original general fund appropriation near $5.624 billion; Bybee showed that current revenue projections…
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