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Committee preserves reserves with 2% set‑aside; staff cites $3 billion in available funds
Summary
The JLBC package keeps a 2% ($150M) set‑aside and staff cited approximately $3 billion in total unallocated funds and substantial capital expense balances, while noting the rainy day fund is full.
Committee presenters emphasized preserving cash balances and reserves in the FY2027 recommendation. The package retains the routine 2% general‑fund set‑aside—$150 million—that the committee said will be split under statute between the rainy day fund and capital expenses.
Presenters stated several reserve figures during the presentation, citing a capital expense fund of about $1.54 billion and noting a total of roughly $3 billion in unallocated funds. At one point a voice in the meeting stated, "rainy day fund is more than full," and members said they would nevertheless set aside the 2% required by statute. Staff also noted other restricted funds referenced in the memorandum, including a BP settlement and tobacco fund amounts.
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