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Professional Fiduciaries Bureau projects healthy reserves but notes staffing vacancies and temporary processing delays
Summary
DCA budget staff reported the bureau projects roughly $1.4 million in year-end reserves (about 15.5 months) and advised 12 months is a healthy reserve target; committee members pressed for vacancy and complaint‑trend updates after staff turnover temporarily lengthened application processing times.
Brendan Vu, a budget analyst in the Department of Consumer Affairs' budget office, presented the Professional Fiduciaries Bureau's fund-condition statement to the advisory committee on March 11, 2026 and summarized revenue, expenditure and reserve projections.
Vu said the bureau began the prior year with a base budget slightly over $1 million and projected FY expenditures of roughly $718,000, creating an approximate reversion of $333,000 (31.73%). For fiscal year 2024–25 the bureau collected about $1.298 million in receipts and ended the year with an $885,000 reserve (about 13.2 months). For 2025–26 the bureau projects just over $1.3 million in revenue and projects a fund balance of roughly $1.4 million (about 15.5 months in reserve). The budget office…
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