Finance committee approves minutes; staff reports $5.4M cash balance and $43,195 FY27 pay-plan request

The Finance and Risk Management Committee approved minutes from its Sept. 10, 2025 meeting and heard an agency finance update at its meeting this morning.

Chair Brenda Sharp called the meeting to order, confirmed a quorum and put the minutes to a voice vote; members responded 'aye' and the chair declared the motion carried. Chair Sharp also welcomed new member Belinda Katz.

Carol, the staff member who presented the agency finance report, said the agency's cash balance is about $5,400,000 and distinguished that figure from the fee fund balance discussed elsewhere in the packet. She said annual expenditures run around $4,000,000 and that the fee fund also functions as the agency's emergency reserve. Carol said guidance received recommends keeping fee-fund reserves of roughly 1.0 to 1.5 times annual expenditures.

On budget timing, Carol said the FY26–27 budget has been approved by the division of budget and is now with legislative research as part of the governor's budget process. For fiscal year 2027 the agency submitted a change package of $43,195 to continue a pay-plan increase beyond the current fiscal year; Carol said the request follows the state's approach to funding employee increases.

The committee agreed to include the agency finance report and a budget overview on the agenda for the committee's next scheduled meeting at the end of March.

The meeting adjourned at 08:49.