Transcript Highlights:

• I'm between a little sir on the CFO. President of the Washington Roundtable.
• Chair and the CFO for the Health Care Authority.
• Rachel Pancock, Assistant Secretary, CFO for D.S.A.G.

Committee: Joint Joint Legislative-Executive Committee on Budget Transparency and Fiscal Sustainability

Summary: The committee held its first meeting, with co-chairs and members introducing themselves and staff outlining the committee’s statutory charge under the 2026 supplemental operating budget. Staff explained that the committee is tasked with studying budget transparency and fiscal sustainability in two phases: first, revenue growth, spending assumptions, statutory cost drivers, and carryforward/maintenance levels; and later, staffing, overhead, performance management, and public reporting tools. The committee also discussed its goals, with members emphasizing a shared factual understanding of Washington’s fiscal situation, the causes of projected structural deficits, and possible paths to a more sustainable operating budget. Staff then gave a detailed operating budget basics presentation. They reviewed the size and composition of the operating budget, explaining that most spending is concentrated in grants and client services, salaries and benefits, and goods and services, with K-12 education, DSHS, the Health Care Authority, DCYF, corrections, and higher education making up most NGFO spending. They also walked through the distinction between constitutional, federal, statutory, and discretionary spending; the role of caseload and per-capita forecasts; how maintenance level and policy level budgets are built; and how the four-year outlook works, including revenue forecasts, reversions, budget stabilization account reserves, and the official outlook adoption process. Members asked several questions about what is or is not included in the outlook, especially future collective bargaining agreements, health care inflation, court-ordered liabilities, and whether the budget could better separate mandatory from discretionary spending over time. Staff said some of those questions would require follow-up and noted the existence of an outlook accuracy report. The committee then heard from Josh Goodman of the Pew Charitable Trusts, who introduced Pew’s state fiscal work and its role as the nonprofit partner supporting the committee. He said Pew would help analyze long-term fiscal sustainability, reserve policies, recession preparedness, and practices from other states, and would draw on its 50-state data and subject-matter experts. No votes were taken and no formal actions were reported at this meeting.

Transcript Highlights:

• Sacramento State and Stanislaus State share a CFO.
• Sacramento State and Stanisla State share a CFO.
• I mentioned Sacramento State and Stanislaus State sharing a CFO—very difficult, but that's the kind of

Summary: The Assembly Budget Subcommittee on Education Finance held an oversight hearing on the California State University system covering enrollment, core operations, Title IX/civil rights, and basic needs. The Department of Finance said the Governor’s 2026-27 budget does not change CSU enrollment targets from the prior year and proposes a 5% ongoing General Fund increase for core operations as the final year of the compact. The Legislative Analyst’s Office recommended a lower resident undergraduate enrollment target than the Governor’s proposal, separate funding for enrollment growth rather than folding it into base, a smaller or no base increase tied more closely to inflation, earmarking some base funds for capital renewal, retiring deferred payments, and avoiding new multi-year compact commitments. CSU said enrollment has rebounded for three straight years, but growth is uneven across campuses, with several Northern California campuses still facing structural declines tied to demographics and community college pipelines. CSU described a multi-year reallocation plan shifting about 10,000 FTE and $89 million in ongoing funding toward higher-demand campuses, plus $40 million in one-time support, and said seven campuses submitted turnaround plans aimed at recovering enrollment over the next several years. The system highlighted strategies such as dual enrollment, guaranteed admission pathways with community colleges, outreach to high school students, retention and advising efforts, and new degree models for working adults and military-connected students. Members raised questions about how campus targets are set, whether the May Board of Trustees discussion will address a systemwide enrollment framework, and how CSU will manage future deficits if projected out-year funding does not materialize. On core operations and facilities, CSU said it faces about $320 million in mandatory cost increases in 2026-27 and is pursuing shared services, procurement consolidation, campus administrative sharing, and program redesigns to reduce costs. CSU and the LAO emphasized the system’s large deferred maintenance backlog, estimated at $8.6 billion, and discussed whether CSU’s bond/debt capacity is sufficient to address it; CSU requested up to $1.1 billion for deferred maintenance, while the administration did not propose new funding. The committee also heard CSU’s annual Title IX and civil rights update: CSU said it has implemented 15 of 16 State Auditor recommendations, has dedicated Title IX coordinators at every campus, is using a systemwide case management dashboard, and is piloting centralized investigations at five campuses. Finally, on basic needs, the Governor maintained current funding levels for food assistance/basic needs, rapid rehousing, and mental health. CSU reported heavy use of food pantries, CalFresh support, emergency housing, and counseling services, while warning that federal changes to CalFresh and related funding could make it harder to serve students in need.

Transcript Highlights:

• We also have Silvio Rodarte, our CFO.
• and accounting and finance side of the house for the last seven or eight months without actually a CFO
• So we finally were able to hire a good, solid CFO, so we're really happy to have her.

Committee: House Science, Technology & Telecommunications Committee

Transcript Highlights:

• And so rather than just a CFO, LRO, we've all been working together very closely over the last three-ish
• And so rather than just a CFO, LRO, we've all been working together very closely over the last three.

Summary: The Financial Estimate Committee met on July 6, 2026, to begin work on the financial estimate for IP 28, after reviewing the statutory process and confirming that only IP 28 had cleared the signature threshold for consideration. Staff explained the committee’s duties under ORS 250.125 and the timeline for draft statements, public hearing, and final adoption. The committee also designated Carol Moreno C. Fuentes to file the committee’s eventual statements. Staff from the Department of Administrative Services and the Legislative Revenue Office presented preliminary analysis of IP 28, describing major uncertainties in estimating impacts because the measure is not a tax law change and would affect multiple industries and government functions. Preliminary figures discussed included an estimated $56.5 million loss in the current biennium and $6.7 million in reduced expenditures, with larger projected revenue losses of roughly $244.1 million to $258 million and reduced expenditures of $30.7 million to $34.9 million in 2027–29, plus $87.8 million to $88.3 million in increased expenditures. Analysts said the biggest effects would likely involve agriculture, fish and wildlife, hunting and fishing, local government enforcement, and possible shifts in state funding, but many impacts remained difficult to quantify. Committee members raised concerns about local government costs, law enforcement and prosecution burdens, impacts on the hospitality and recreation sectors, possible effects on tribal governments and treaty rights, and whether the measure would affect shellfish and crabbing. They also discussed the Humane Transition Fund, subsidies, possible litigation costs, and whether the statement should include broader uncertainty language and multiple scenarios. Members generally agreed the draft should be revised to better reflect uncertainty, clarify assumptions, and possibly use bullets or other formatting to improve readability. No vote was taken. The committee agreed to treat the current draft as a working version, with staff to revise it based on the discussion and return an updated draft before the next meeting scheduled for July 17 at 2 p.m., with both in-person and virtual participation available.

Transcript Highlights:

• Public testimony, we have Christian with CFO Blaise Ingoglia's office DFS waiving in support.
• Hana Christiansen with CFO Blaise Ingoglia's office. Does anyone else wish to testify on this bill?

Bills: S0598 , S0934 , S1260 , S1300 , S1452 , S1510 , S1566 , S1580 , S1668 , S7034

Committee: Senate Appropriations Committee on Agriculture, Environment, and General Government

Transcript Highlights:

• KONG, THE FINANCIAL COMPANY TO TRANSPORT THEY HAD REQUEST TO TRANSFER A HUNDRED MILLION DOLLARS TO THE CFO
• AND THE CFO WHILE THE PROTOCOL AND HAD A ZOOM CALL AND ALL THE PARTNERS WERE THERE AND EVERYTHING AND

Transcript Highlights:

• Bose, and I am the CFO for the Housing New Mexico. So today, we will have.
• He is the CFO for CSG Advisors, based out of Atlanta, Georgia.

Committee: House Mortgage Finance Authority Act Oversight Committee

Transcript Highlights:

• I know our outgoing CFO, Jimmy Patronis, has issued some sort of request or timeline for a study on this
• He then answered the question about the CFO study, saying the study has been completed and is available

Summary: The Ways and Means Committee met on April 2, 2025, with a quorum present and took up four bills. The committee first heard HB 4041, which would create the Corkscrew Grove Stewardship District in Collier County to finance and maintain infrastructure such as transportation, utilities, and stormwater systems without changing county regulatory authority. The bill drew no opposition, was reported favorably, and passed 14-0. The committee then considered HB 1485, which repeals Florida’s aviation fuel tax provisions. The sponsor argued the change would simplify the tax code, attract airline investment, and support lower fares and more routes. Members raised concerns about the estimated recurring $22.8 million impact on the State Transportation Trust Fund and $2 million on general revenue, and airport representatives warned of reduced grant and development funding, especially for general aviation and municipal airports. Supporters said the change would increase competition and fuel sales in Florida. The bill was reported favorably on a 12-5 vote. Next, the committee heard HB 999, which would recognize gold and silver as legal tender, allow electronic debit access to bullion accounts, and remove tax burdens on transactions involving precious metals. The sponsor and supporters described the bill as a way to protect purchasing power and provide an alternative parallel to the dollar, while opponents and some members raised concerns about consumer protections, predatory practices, privacy, and the role of the Office of Financial Regulation in rulemaking. After extensive testimony, the bill was reported favorably 19-0. Finally, the committee considered PCB WMC 25-01, which would reduce the state sales tax rate from 6% to 5.25% and also lower several related taxes, including the business rent tax, nonresidential electricity tax, mobile home sales tax, and coin-operated amusement machine tax. The proposal was estimated to reduce revenue by about $5.5 billion annually. Members discussed impacts on the budget, education funding, and whether savings would reach consumers, while supporters emphasized relief for Floridians and business competitiveness. The bill passed unanimously 19-0 and was reported favorably. The chair then noted a prior procedural apology on the record, and the meeting adjourned.

Transcript Highlights:

• And one of the biggest challenges for us is sit in the CFOs role is how do you plan no multi-year fashion
• I think a week ago there was a presentation from the CFO of the Board of Governors to the committee that

Transcript Highlights:

• And with that, let me turn it over to Jason Mallett, our CFO, to get into the details, and then we'd
• I'm Jason Mallett, CFO of CDTFA. I'm joined by a few colleagues in the audience as well.

Transcript Highlights:

• Commissioner and who let's see you have Jennifer Jones chief clerk a deputy land commissioner and your CFO
• With me, I have David Rapp, who's our CFO, who can answer some of your specific questions, but for the

Bills: SB1 , SB 1

Committee: Senate Finance

Transcript Highlights:

• Madam Chair, Senator Figueroa, there is an appeal process and, uh, ultimately the CFO of the grant tour

Committee: Senate Senate Tax, Business & Transportation

Transcript Highlights:

• positions</c> Yes, we are still actively trying to fill positions, and I think we'll hear from one of the CFOs
• I certainly can appreciate, as a CFO and as an operator, staffing challenges and the difficulty of retaining
• 56.799><c> as</c><01:03:57.039><c> a</c><01:03:57.200><c> as</c><01:03:57.440><c> a</c><01:03:57.599><c> CFO
• /c><01:03:58.880><c> uh</c><01:03:59.200><c> as</c><01:03:59.440><c> an</c> appreciate uh as a as a CFO
• and uh as an appreciate uh as a as a CFO and uh as an operator<01:04:00.480><c> certainly</c><01:04:

Summary: The committee met with a quorum, approved the minutes from the September 17 meeting, and heard a presentation from Kentucky Department of Education staff on SEEK school funding and KDE on-behalf payments. KDE explained recent SEEK changes, including the guaranteed base per-pupil amount, attendance-based calculations, second-month and January growth, the 2022 change funding kindergarten at 100% instead of 50%, and the existing add-ons for at-risk students, exceptional children, limited English learners, home/hospital instruction, and transportation. Staff also reviewed tier one funding, noting the 2024 increase from 15% to 17.5% and explaining that eligibility depends on local tax effort and property wealth. They also described Senate Bill 6 from the 2025 session as a reporting proposal to include on-behalf costs in education spending totals. KDE staff then outlined on-behalf payments made for districts, including roughly $458 million for Teachers Retirement System contributions, $942 million for health insurance, about $12 million for technology costs, and additional SFCC debt service outside KDE’s appropriation, for a total of about $1.5 billion. Members asked how a future Senate Bill 6 would affect local contributions and whether folding on-behalf payments into SEEK would shift costs among districts. KDE and Senator Gibbons clarified that the bill was intended only as a reporting mechanism and would not change local contribution or district payments; it would simply present a broader total of state education investment. The discussion also noted that Kentucky’s reported SEEK amount alone does not capture all state education spending. Members raised questions about home and hospital instruction data, saying local concerns suggest growth in some communities even if statewide numbers appear stable. KDE said the statewide figure has been relatively consistent but offered to provide district-level trend data. Co-Chair Petrie also asked about the accuracy of SEEK projections and on-behalf calculations, referencing prior concerns from the Office of Education Accountability. KDE responded that it works with the state budget director’s office in a consensus forecasting process and has been reviewing demographic and property-assessment data, including exceptional child counts, to improve forecast accuracy.

Transcript Highlights:

• I would point out that none of them relate to actually the finances, as our CFO would be happy to point
• the good Lord's Earth so<00:21:53.799><c> like</c><00:21:53.960><c> all</c> so like all so like all CFOs
• 21:56.480><c> you</c><00:21:56.559><c> say</c><00:21:56.679><c> you</c><00:21:56.880><c> added</c> CFOs
• did I hear you say you added CFOs did I hear you say you added employees<00:21:58.240><c> correct</c

Summary: The committee heard a budget presentation from New Hampshire Lottery Director Charlie McIntyre and CFO Jim Durus. McIntyre said the Lottery has more than tripled its return to the Education Trust Fund since 2011, from $62 million to $207 million in FY 24, while keeping expenses relatively flat over time. He explained that the Lottery operates like a business, is heavily audited, and that the governor’s budget raises the FY 26-27 revenue estimate to $185 million, up about $12 million annually from prior estimates. He attributed FY 24’s unusually strong results to record Powerball sales driven by a spike in billion-dollar jackpots tied to higher interest rates, and said scratch tickets still make up most gross sales, though Powerball is the highest-margin product. Members questioned the Lottery about the difference between gross revenue and profit, the steep rise in operating expenses, and the reasons for requested budget increases. McIntyre said the main drivers were payroll, benefits, advertising, added regulatory responsibilities from expanded gaming, and a new Salesforce customer-tracking system. He also described requested capital needs, including an outdated security system, building access and ADA improvements, and upgrades to the front office for employee safety. He said the security system is still running on an old Windows 7-based setup and that the requested upgrade would modernize cameras and add redundancy. The discussion also covered staffing and gaming expansion. McIntyre said the Lottery has 84 employees including three commissioners, with 13 funded vacancies, and that it plans to fill positions as two new gaming rooms come online in Rochester and Derry. He said the Lottery’s revenue estimates were revised upward because sports betting in Massachusetts had less impact than expected and historic horse racing machines have been more profitable than forecast. He also explained the governor’s proposal to shift historic horse racing toward slot-style machines, saying the physical machines would look largely the same but the content and math would change, and that the state’s revenue share would increase under the proposal. No votes were taken; the committee mainly asked questions and received explanations about the Lottery’s budget and revenue assumptions.

Transcript Highlights:

• Jamie Fisher, CFO for the Department of Parks, Heritage and Tourism.

Committee: All LEGISLATIVE JOINT AUDITING-STATE AGENCIES

Summary: The committee met to consider audit reports and first adopted the minutes, then deferred the Health Department special report at the request of Representative Mary Bentley. Staff presented two reports with findings and six reports without findings, with the latter recommended to be filed. The first report discussed was the Department of Parks, Heritage, and Tourism FY25 audit, which had two findings: an apparent unauthorized payroll direct deposit of nearly $2,400 involving impersonation of an employee, and a bank account that was temporarily uninsured and uncollateralized by about $105,000. Agency officials said the collateral issue has been corrected, and members questioned the adequacy of monthly checks, the lack of recovery or prosecution in the payroll incident, and whether stronger safeguards are needed. On motion, the committee deferred this report to a later meeting so the agency could return with additional answers. The committee then heard the Treasurer of State FY25 report, which found that liabilities were understated by nearly $335 million because year-end obligations tied to Act 1017 and county aid distributions were not properly recorded. Treasurer’s office staff said the issue was a timing/bookkeeping matter rather than a delay in transferring funds, and that the office concurred with the audit adjustment. After questions, the committee voted to accept the Treasurer of State report. The chair announced the next meeting would be September 10, and the meeting adjourned.

Transcript Highlights:

• I'm not sure on the last title, but CFO for the healthcare authority.
• Chair, and the CFO for the Health Care Authority.
• Rachel Pancock, Assistant Secretary, CFO for DSHS. Rachel Knitzen, Senior Budget Advisor for OFM.

Committee: Joint Joint Legislative-Executive Committee on Budget Transparency and Fiscal Sustainability

Transcript Highlights:

• Keith Johnson, our CFO, is here, has done a remarkable job at keeping us going in the right direction
• talked about they're looking at trying to get more into CTE and stuff like that, visiting with their CFO
• talked about they're looking at trying to get more into CTE and stuff like that, visiting with their CFO

Committee: Joint Higher Education Institutions Committee

Transcript Highlights:

• Keith Johnson, our CFO, is here, has done a remarkable job at keeping us going in the right direction
• talked about they're looking at trying to get more into CTE and stuff like that, visiting with their CFO
• talked about they're looking at trying to get more into CTE and stuff like that, visiting with their CFO

Summary: The committee met at North Dakota State College of Science for a presentation from President Flanagan and campus leaders on the college’s mission, enrollment growth, workforce programs, facilities needs, and industry partnerships. Flanagan highlighted student success in national competitions, strong placement and retention, the college’s strategic plan, and new or expanding programs such as aviation maintenance, fire science, dental hygiene, community health worker, surgical technology, HVAC/plumbing, and precision agriculture. He also described the need for a new dorm and a remodel of the library into academic and allied health space, including a simulation center, to address capacity limits and support growth. Several committee members asked about program demand, faculty recruitment, pay competitiveness, and how the college shifts resources from lower-demand programs to high-demand ones. Industry partner Jim Albright of Comdell testified that the college has been essential to the local manufacturing workforce and that many employees and interns come from NDSCS. A major topic was dual credit. Flanagan said dual credit is important but financially challenging, noting that only a small share of dual credit students ultimately matriculate to NDSCS and that the college’s dual credit model is close to break-even. He explained that many dual credit credits are general education rather than CTE, and that the college pays instructors, supports high schools, and absorbs indirect costs. Williston State College President Bernal Herning added that his institution loses money on the front end but has shifted toward helping students complete associate degrees before high school graduation because many go directly to work after high school. Committee members questioned how dual credit is delivered, how instructors are qualified, and whether students are truly doing college-level work. The committee then received a University System presentation from Jamie Wilkie on the cost of delivering dual credit statewide. Wilkie explained the methodology used to allocate direct and overhead costs and said the analysis shows dual credit is not profitable at several institutions once tuition, instructor payments, and overhead are included. Members asked how much of the cost is borne by students, families, and the state, and whether K-12 funding should also be considered. Discussion also covered the difference between subsidized and unsubsidized dual credit, payments to high school teachers or schools, and the possibility of waiving tuition in the future. No votes were taken, and the committee mainly gathered information for the ongoing dual credit cost study.

Transcript Highlights:

• And there are some CFOs and some data people that are on that committee as well from the different institutions
• Craig Tegas, Senior Associate AD and CFO for the Athletic Department.
• Chad Brown, CFO, Department of Corrections: Senator, this is the medical contract that was discussed

Committee: All JOINT BUDGET COMMITTEE

Summary: The committee first adopted revised JBC rules, which staff said were updated to reflect legislation passed in the 2025 session. It then heard a presentation from DFA Secretary Jim Hudson on the governor’s proposed balanced budget for FY27, with no action taken. Hudson said the budget reflects three priorities: limiting state-government growth, continuing investments in education, and advancing income-tax cuts. He highlighted increases for education funding through EFAs, pay-plan costs for Corrections, DPS, and the Attorney General, higher education productivity funding, drug task forces, a Corrections medical contract, the governor’s 1033 initiative, SNAP error-rate reduction efforts, and an additional $100 million set aside for Medicaid sustainability. Committee members questioned the size of the tax cuts, the balance requirement, public education funding, Medicaid trust-fund levels, EFA funding, and the expected impact of new SNAP cost-sharing rules. The Division of Higher Education then presented its productivity-based funding recommendations. Officials said institutions were 2.61% more productive overall, with funding changes driven by a statutory formula that rewards degree production, underserved populations, and high-demand fields. Members asked about declines at UA Little Rock, the formula’s multipliers, the role of the Arkansas Access Act and a new return-on-investment metric, and how two-year colleges are adjusted for size. The committee also reviewed special items and approved two letters: one authorizing 17 net personnel changes across nine institutions, and another adding special language for North Arkansas College’s entry into the University of Arkansas system. The committee then adopted the Higher Education Coordinating Board’s recommendations for all institutions. A lengthy portion of the meeting focused on the University of Arkansas system, especially Fayetteville’s athletics funding and the broader impact of the House/NIL settlement. Chancellor Charles Robinson and system officials explained that the board had waived a longstanding campus transfer and directed the university to provide an additional $6 million to athletics, with some costs likely to be passed through to students but partially offset by existing budget growth. Members debated whether the university should prioritize academics or athletics, how the transfer originated, and whether the athletic changes would affect affordability. The committee also discussed the 1890 extension program at UAPB and the Division of Agriculture’s land-grant funding. UAPB officials said the state match is intended to be one-to-one, that the current recommendation aligns appropriation with actual spending, and that a $2 million set-aside remains available if needed. The Division of Agriculture later clarified that its Smith-Lever extension and Hatch research funds are part of the UA system’s separate budget and that the state matched about $6.2 million in federal extension funding last year. The committee then moved to the Department of Corrections. It approved G1, transferring 51 positions to the secretary’s office to activate a recidivism program, with an estimated cost of about $4 million. Staff then began walking through the department’s FY27 budget, noting an increase of about $8 million for administration and shared services, including a $170,000 sex-offender assessment appropriation moved under Act 723 of 2025 and roughly $6 million more for medical contracts. Questions on the Corrections budget had just begun when the transcript ended.

Transcript Highlights:

• In between, right next to me, is the CFO for the State Racing Commission, Amber, and next to her is Izzy
• Our CFO, Ms.
• I am Amber Trujillo, the CFO for the racing commission. That is an excellent question.

Committee: House House Appropriations & Finance