Video & Transcript Research : 'auditing'
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NH
Transcript Highlights:
- Um, it was based in part on an audit that no one has seen, that hasn't been released.
- The audit, can you—I know when are we going to see this?
- time to see the audit and the audit<01:15:51.520>
reports <01:15:51.840>and <01:15:52.159 - The audit,<01:16:03.679>
can <01:16:03.840>you <01:16:04.159>I audit, can you I - Um, so I understand that the audit could bring up other issues. Yes.
UT
Utah 2025 Regular Session
Natural Resources, Agriculture, and Environment Interim Committee - November 19, 2025
Natural Resources, Agriculture, and Environment Interim Committee
Transcript Highlights:
- , so... ...pursuant to the findings of the legislative audit.
- They went through the audit findings and analyzed best practices across the country.
- The next slide just shows how we're responding to the audit.
- We feel like there's really two pieces to a successful audit response.
- Responses that directly correlate to the audit and improve our performance.
MN
Minnesota 2025-2026 Regular Session
House Workforce, Labor, and Economic Development Finance and Policy Committee 2/26/25
Workforce, Labor, and Economic Development Finance and Policy
Transcript Highlights:
- about one misclassified worker per audit about one misclassified worker per audit and<00:30:53.399
- When we have done those audits, we identified some sort of misclassification in over 70% of those audits
- When we have done those audits, we identified some sort of misclassification in over 70% of those audits
- When we have done those audits, we identified some sort of misclassification in over 70% of those audits
- When we have done those audits, we identified some sort of misclassification in over 70% of those audits
NH
Transcript Highlights:
- addresses is it simply moves the audits addresses is it simply moves the audits to<01:05:17.039>
- <01:06:38.279>
and of the ticket recount uh Audits and of the ticket recount uh Audits and - Representative Lane said the bill was relative to election audits and moved ought to pass.
- He said the audit was secondary to the recount, and the recount was why everybody was there.
- <02:33:29.680>
is as that concept the um audit is as that concept the um audit is secondary
NH
New Hampshire 2025 Regular Session
House Finance Division II (03/19/2025)
Transcript Highlights:
- “Over the 2025 evaluation, you want to use what audit—LBA’s audit? Okay.
- more special ed auditing.
- Over the 2025 evaluation, you want to use what audit? LBA’s audit? Okay.
- Over the 2025 evaluation, you want to use what audit? LBA’s audit? Okay.
- more special ed auditing.
Summary:
The Division 2 Finance Committee work session focused primarily on House Bill 115 and a proposed amendment, 114H, which would carry over language from HB 2 into HB 115 and place limits on Education Freedom Accounts (EFAs). Representative Murray described the amendment as a way to keep the 350% federal poverty eligibility cap, require students to have attended a charter public school in grades K-12 for the preceding year before entering the voucher system, and add guardrails against universal eligibility. She argued the state was facing a severe budget crisis, that expanding EFAs would divert money from other programs, and that public testimony and local votes showed widespread opposition to expansion. She also cited a letter from former Finance chair Neil Kirk opposing expansion. Other members responded that the committee should not revisit policy already decided by the House, though some said the amendment was fair to discuss because of its fiscal implications and supported it on that basis.
The discussion then broadened into a debate over the fiscal impact of universal vouchers and the reliability of enrollment and cost estimates. Representative Luno argued that prior EFA projections had relied on assumptions that could badly underestimate state exposure, pointing to Arizona as a cautionary example and saying New Hampshire should not expand the program without better analysis. Representative Papovich similarly warned that universal eligibility could create a large, unexpected cost, estimating a potential exposure of about $285 million based on school-age children not currently in public, charter, or EFA programs. In contrast, Representative Weyler said EFAs can save money because public school spending is already high and parents using EFAs still pay taxes and take on more responsibility for their children’s education.
After discussion, Representative Murray moved to accept the amendment, and Representative Bean seconded it. There was some procedural clarification about voting on the original bill and the amendment. The transcript ends before a final recorded vote on the amendment or on HB 115 itself, though the committee had also been told it would likely reconsider several retained bills later in the week, including HB 129, HB 133, HB 671, and HB 781.
FL
Transcript Highlights:
- And so we have three primary metrics in the post-secondary CTE audit.
- And so we have three primary metrics in the post-secondary CTE audit.
- So if those programs do not have those exceptions, we run through the CTE audit metrics.
- So together, there's 22 that under the CTE audit, we would identify those programs.
- Beginning in 2026, under the CTE audit rule, those particular programs would be phased out.
Summary:
The Education Postsecondary Committee met to hear an overview of Florida career and technical education (CTE) from Chancellor Kevin O’Farrell and presentations from Big Bend Technical College and Santa Fe College. O’Farrell described Florida’s CTE structure, including career clusters, postsecondary program types, enrollment and completion growth, apprenticeship expansion, and the state’s credentials review process. He said postsecondary CTE enrollment is near 480,000 students and completions reached a record 76,806, with strong growth in nursing, law enforcement, EMT, and other public-safety credentials. He also discussed the CTE audit, which uses retention/success, employment or continued education, and labor-market demand metrics; programs not meeting thresholds would eventually require phase-out plans beginning in 2026. He highlighted the workforce development capitalization grant as a major driver of program expansion and facility renovation, and answered questions about business outreach, construction trades, apprenticeships, and space-industry training.
Shelby McCall of Big Bend Technical College described how the college responded to hurricanes, mill closures, and regional economic disruption by expanding rural workforce training. She highlighted aluminum welding, millwright, welding technology, health sciences, and a new advanced manufacturing facility funded by state grants and local partnerships, along with a new LPN-to-RN bridge program. She said the college has strong placement and certification results and is working with employers such as Lippert, NAMO, and others to align training with local demand. Senator Simon praised the college’s role in Taylor County’s recovery and workforce development.
Dr. Paul Brody of Santa Fe College said state workforce grants have helped the college expand nursing, skilled trades, apprenticeship, automotive, diesel, and manufacturing programs, including partnerships with Bradford County Technical College, UF Health, Habitat for Humanity, and local employers. He reported growth in CTE enrollment, nursing credentials, apprenticeship enrollment, and job placement rates, and described new efforts in semiconductor training, CDL training, and a charter school model that combines high school, an AS degree, and industry credentials. The committee took no formal action beyond hearing the presentations and adjourned after Senator Berman moved to adjourn.
WY
Transcript Highlights:
- those audits?
- But there was a special, um, audit provision of those funds in addition to, um, the annual audit that
- statewide um audit. statewide um audit.
- The audit that you directed to be done this summer is done by the State Department of Audit.
- . audit. audit.
NM
New Mexico 2025 Regular Session
IC - Land Grant Sep 8th, 2025
House Rural Development, Land Grants And Cultural Affairs
Transcript Highlights:
- I was just curious about the audits that are required. What do they cost the Merced?
- So, obviously, as you get closer with more revenue, then it's a full-blown audit.
- Again, the more revenue that they do generate, the closer they get to a full-blown audit.
- Of having to do an audit, and audits are not inexpensive.
- Audits typically run anywhere from $10,000 to $20,000.
TX
Texas 89th Regular
Delivery of Government Efficiency Mar 12th, 2025
Delivery of Government Efficiency
Transcript Highlights:
- Have you done forensic audits on purchases in the past few years from an audit standpoint?
- So currently we have an auditing firm that every year the city's financials are audited.
- So, from an audit standpoint, the cooperative is audited every single year. a financial audit similar
- It's audited every single year.
- Annually audited is it is that fun audited?
Keywords:
regulatory reform, government efficiency, administrative law, rulemaking, agency deference, judicial review, de novo review, Texas Government Code, Administrative Procedure Act, state agencies, plain language, regulatory burden, regulatory reduction, cost-benefit analysis, fiscal note, public benefits and costs, contested case, rule challenge, Texas Regulatory Efficiency Office, advisory panel
TX
Texas 89th Regular
Trade, Workforce & Economic Development Apr 15th, 2025 at 10:04 am
Trade, Workforce & Economic Development
Transcript Highlights:
- These audits often stretch on for months.
- I'm not opposed to audits now. We believe in accountability.
- It's reasonable, but no audit should delay final payment indefinitely.
- That is going on indefinitely using this power of an audit.
- Sometimes these audits take one to two years to be completed.
Bills:
HB2963, HB3005, HB3287, HB3288, HB3289, HB3290, HB3344, HB3712, HB3862, HB3874, HB4196, HB4308, HB4901, HB4984
Keywords:
digital equipment, repair rights, manufacturers, maintenance, consumer rights, construction contracts, payment regulations, public works, dispute resolution, audit procedures, construction, trust funds, mechanic's lien, contractor, subcontractor, residential properties, disputes, payment obligations, accountability, payment disputes
Summary:
The committee heard testimony on several bills related to technology, construction, economic development, and consumer protection. HB 3862 would restrict minors’ access to certain social media apps and limit smartphone use in classrooms; supporters, including Champions for Childhood, argued that smartphones and social media contribute to addiction, distraction, depression, self-harm, and trafficking risks, and the bill was left pending. HB 3712 would change Texas retainage rules so owners could not withhold payment on specially fabricated construction materials once they are delivered, approved, and warranted; subcontractors and suppliers said current retainage practices delay payment for years and create financial risk, and the bill was left pending. HB 2963, the right-to-repair bill, would require manufacturers to provide parts, tools, and information for independent repair of digital devices, with exemptions for medical devices, vehicles under existing agreements, and trade-secret protections; consumer, environmental, business, and repair advocates supported it, while Safelite asked that automotive manufacturers not be excluded from the bill, and it was left pending. HB 4308 would create county industrial development districts to attract major employers and finance infrastructure through local elections and bonds; Fort Bend County supported it as a tool to add jobs and broaden the tax base, and it was left pending.
The committee also heard HB 3344, which would create a licensing system for re-roofing contractors, require insurance and bonding, and establish a public database and complaint process. Supporters said it would help curb storm chasers and protect homeowners after storms, while opponents argued it would add burdens on legitimate small roofers, duplicate existing fraud laws, and potentially restrict consumer choice and contractor pricing flexibility. After extensive testimony and questions, the bill was left pending. HB 4196 would create a task force on modernizing manufacturing through digital integration and automation; Schneider Electric and the Texas Workforce Commission supported it as a way to improve competitiveness and create skilled jobs, and it was left pending. HB 3874 would require contractors to receive copies of incorporated contract documents before signing if requested; subcontractors and construction attorneys said it would improve transparency and prevent parties from being bound by unseen terms, and it was left pending.
In pending business, the committee voted out several bills. HB 74, creating the Port Verde Port Authority District, was reported favorably to the full House without amendment. HB 112, relating to a science park in certain counties, was reported favorably as substituted. HB 2214, on floodplain notice requirements for leased dwellings, HB 3016, on rental vehicle damage waivers, HB 3133, on explicit deepfake material on social media, HB 3173, on workforce development program planning and evaluation, HB 3807, on child care waiting list priority for children of certain child care workers, HB 463, on unilateral memoranda of contract for residential property, HB 4115, on shareholder proposals to certain domestic corporations, and HB 5008, on use of the Skills Development Fund by certain entities, were all reported favorably, most without amendment and some as substituted. HB 2652, creating a certified caregiver pilot program in the Borderplex workforce area, was also reported favorably and sent to the Committee on Local and Consent Calendars.
TX
Transcript Highlights:
- We have to submit to HRSA audits of our program.
- We've had two HRSA audits, and HRSA is exactly the place where audits need to take place.
- Well, the abuses, isn't that what we have audits for? And what do those audits reflect?
- HRSA is the one that does the audits, and they've done less than 400 to 500. Audits.
- Some contracts even ban employers from auditing them.
Bills:
HB712, HB722, HB946, HB1687, HB1809, HB1899, HB2528, HB2583, HB2741, HB2750, HB3021, HB3150, HB3265, HB3658, HB3812, HB3960, HB4392, HB4432
Keywords:
prostate cancer, health benefit plans, insurance coverage, cost sharing, preventive health care, auto insurance, total loss evaluation, disclosure, insurance materials, vehicle appraisal, HB 946, Texas Insurance Code, automobile insurance claims, oral release, written release, settlement agreement, claim release, property damage, bodily injury, psychological injury
MN
Minnesota 2025 1st Special Session
House Judiciary Finance and Civil Law Committee 3/27/25
Judiciary Finance and Civil Law
Transcript Highlights:
- Uh, this establishes role-based access audit trails and moves the adds to a license inspection a audit
- the data and the security and audit the data and the security and audit trails<00:05:01.840>
- It includes the compliance checks and audit trails.
- It includes the compliance checks and audit trails.
- Um, their audit during a license check.
Keywords:
mortgage foreclosure, redemption, foreclosure surplus, sheriff's sale, junior lienholder, mortgagor, homeowner protections, loss mitigation, dual tracking, foreclosure redemption period, certificate of redemption, certificate of sale, sheriff, county recorder, registrar of titles, homeownership center, lien priority, real property, foreclosure by advertisement, surplus funds
ND
North Dakota 2025-2026 Regular Session
Senate Workforce Development Apr 3rd, 2025 at 02:30 pm
Workforce Development
Transcript Highlights:
- They're always given a month to do an audit response.
- We've struggled with the whole parallel structure with audit and procedures.
- And some of this came from audit and procedures, because instead of it being an audit, it's a program
- And that's where that came from, because that's the protocol for audit and procedures.
- And that's where that came from, because that's the protocol for audit and procedures.
Bills:
HB1220
Keywords:
accelerated degree, high-demand occupations, education reform, North Dakota, licensing, 908, all
Summary:
The Workforce Development Committee reconvened to discuss House Bill 1119, which would create a child care advisory committee and authorize a Legislative Council program evaluation of child care services. Senator Hogan explained that the bill is intended to review child care licensing rules, child care assistance, and related laws and policies, while also giving child care providers a stronger voice in the rulemaking process. He described the proposal as a new model for legislative program evaluation and noted that leadership had been briefed and was supportive.
Committee members raised concerns about the bill’s wording, scope, and structure. Senator Larson questioned the title and several sections, and multiple members suggested making the response language less directive and more collaborative, including changing “shall” to “may” in the section requiring a written response from the Department of Health and Human Services. Members also discussed limiting the advisory committee to the interim, clarifying that the evaluation would focus on child care services rather than broader early childhood programs, and adjusting language about enacted legislation to sound more neutral.
The committee also discussed fiscal impact, with Hogan saying the evaluation would be done by Legislative Council staff and that any costs would likely be limited to meetings and existing DHS rulemaking activities. Members compared the proposal to other oversight models, including audit-style reviews and a possible DOGE process, and Hogan emphasized that the bill is meant to evaluate why child care issues keep recurring and why some laws are not fully implemented. No vote was taken; the committee agreed to continue refining the bill and planned to meet again the following Thursday.
AL
Alabama 2025 Regular Session
Alabama House Boards, Agencies and Commissions Committee Feb 12th, 2025
Boards, Agencies and Commissions
Transcript Highlights:
- We felt that auditing them in three months would be nothing to audit, other than an exercise in futility
- Most of these revisions relate to the following issues that were raised in the audit report.
- further questions or comments, please let me know. ...today, and I want you all to know that this audit
- They have been through multiple audits and reviews, and this bill aims to address the issues identified
- Their audit was not where we wanted it to be, and so the sunset has taken a position where we really
Keywords:
U.S. Space and Rocket Center, Alabama Space Science Exhibit Commission, public facilities, space exploration, education programs, bond issuance, Governor involvement, HB110, sunset bill, Alabama Sunset Law, State Board of Medical Examiners, Medical Licensure Commission, medical licensing, physician regulation, healthcare regulation, professional licensing, ethics law, state ethics code, public servants, board members
OK
Oklahoma 2026 Regular Session
Appropriations and Budget Finance Subcommittee REVISED: Oklahoma Broadband Office added Jan 21st, 2026 at 10:00 am
A&B Finance Subcommittee
Transcript Highlights:
- We get to keep a portion of our audit revenue.
- For everybody's sake, we get to keep a portion of this audit revenue.
- So in the audit revenue, how that. Works is we go out and we get to keep this.
- Very simple answer is we get to keep a certain amount of our audit revenue.
- That audit revenue over the last three years has increased by 35%. We're much more efficient.
AZ
Arizona 2026 Regular Session
03/17/2026 - Senate Appropriations, Transportation and Technology
Appropriations, Transportation and Technology
Transcript Highlights:
- Our concern with 2532 is the funding source for that audit.
- The bill would take $1.25 million from the Housing Trust Fund to pay for the audit.
- Audits are not to vilify anybody.
- It's not uncommon for any audit that we do to be funded by resources from within that agency.
- So I support the notion of doing the audit.
Bills:
HB2056, HB2057, HB2224, HB2257, HB2265, HB2311, HB2352, HB2367, HB2369, HB2446, HB2532, HB2592, HB2752, HB2809, HB2957
Keywords:
brackish water, groundwater, desalination, water resources, feasibility study, environmental impact, special plates, centennial, Arizona Department of Transportation, vehicle registration, commercial discounts, Arizona Centennial, produce incentive, agriculture, economic support, funding, Arizona, boating, watercraft licensing, law enforcement
Summary:
The committee approved the March 10, 2026 minutes and then considered several bills. HB 2056, appropriating $100,000 for an Arizona Department of Water Resources feasibility study on brackish groundwater desalination, passed 6-3 despite concerns that it could encourage more groundwater pumping and worsen subsidence or impacts to tribal lands. HB 2057, which lowers the Arizona Centennial Special Plate renewal fee from $25 to $20, also received a do-pass recommendation, 7-2, with some members objecting to the special plate’s focus and the reduced fee.
HB 2224, appropriating $1 million annually to DES for the produce incentive program, drew strong support from nonprofit and food-access advocates who said the Double Up Food Bucks program helps families, farmers, and local markets; it passed 9-0. HB 2257, changing the allocation of watercraft registration revenues among the Watercraft Licensing Fund, Lake Improvement Fund, and boating safety/law enforcement funds, passed 6-3 after criticism that the bill was heard without a sponsor present and concern about shifting money away from Game and Fish. HB 2265, barring courts from charging defendants for public defender or court-appointed counsel costs and related criminal-case fees, passed 7-1 amid debate over constitutionality, cost shifting to counties, and whether the bill should be amended to offset lost revenue.
The committee then took up HB 2311, which imposes disclosure, content, parental-control, and self-harm response requirements on publicly available conversational AI services for minors. The sponsor and supporters framed it as child protection, while opponents warned about privacy, surveillance, and overbroad definitions; an Epstein amendment expanding the bill to broader conversational technology was rejected, and the bill passed 7-2. HB 2752, moving authority over international trade offices from the Arizona Commerce Authority to legislative appropriations and reporting, passed 6-3 after a proposed data-and-research amendment was also rejected. Finally, HB 2957, requiring ADOT to continue offering non-REAL ID licenses and limiting biometric collection and data sharing, prompted extensive testimony for and against; supporters emphasized privacy and choice, while opponents warned it could conflict with federal CDL and REAL ID requirements. The transcript cuts off during the discussion of HB 2957, before a final vote is shown.
MN
Minnesota 2025 1st Special Session
Committee on State and Local Government - 03/14/25
State and Local Government
Transcript Highlights:
- Studies by the University of Chicago, MIT, Utah State University, and the Center for Audit Quality all
- Studies by the University of Chicago, MIT, Utah State University, and the Center for Audit Quality all
- 4,200 nonprofits requiring annual audits 4,200 nonprofits requiring annual audits the<00:31:52.440
- Everyone's trying to help out their grandkids, school district—they don't have time to get their audit
- they don't have time to get their audit they don't have time to get their audit in<00:35:28.680>
MN
Minnesota 2025-2026 Regular Session
House/Senate DFL Media Availability 12/4/25
Minnesota House Floor Meeting
Transcript Highlights:
- It's the audit that the governor ordered and that the legislature authorized that's going on right now
- It's the audit hired uh last session.
- It's the audit that<00:09:06.640>
the <00:09:06.959>governor <00:09:07.360>ordered - >> We need the audit as soon as possible.
- >> We need the audit as soon as possible.
Summary:
House and Senate DFL leaders Erin Murphy and Zach Stevenson discussed Minnesota’s budget forecast, arguing that rising health care costs, federal policy changes under Trump and congressional Republicans, and cuts to health care, food support, and clean energy are worsening the state’s fiscal outlook and household affordability. They said the state’s economy remains strong but is being undermined by higher premiums, tariffs, canceled projects, and shifting costs to state and local governments, while Republicans are prioritizing tax cuts for the wealthy and large corporations over working families.
A major topic was fraud prevention and oversight. In response to questions, the leaders said every dollar of fraud is unacceptable, but that the budget forecast is not the right tool to measure it. They pointed to existing efforts, including BCA investigators, a governor-ordered and legislature-authorized audit, stronger laws passed in 2023-2025, and work on an independent inspector general proposal. They said the House DFL supports stronger anti-fraud measures and wants fraudsters held accountable, while also protecting services for vulnerable Minnesotans.
The leaders also defended prior DFL budget decisions, saying the 2023 legislative session ended with a $5 billion surplus and rejecting Republican claims that DFL spending drained the state’s coffers. They said Minnesota must still balance its budget, but that the structural deficit is being driven largely by rising medical assistance and health care costs, which they argued are tied to federal actions and broader health system instability. No votes were taken in this transcript; it was a press availability with questions and responses.
LA
Louisiana 2026 Regular Session
Revenue Estimating Conference May 8th, 2026
Transcript Highlights:
- I think our audit team looks at it, and it was more of a 50-50 split where we had a 60-40 when we looked
- we collect through enforcement or involuntary compliance, you’re looking at about $4.5 billion in audit
- get it for the period of 2025 because it went away, but you still will have a minute returns and audits
- So the revenue audit, that works out? Is that a good return on investment for us?
- Because even though in the audit, even though it's $400 to $500 million in collections, the impact it
Summary:
The Revenue Estimating Conference met with four members present and first approved the prior meeting minutes and recognized the FYI end-of-balance of $577,077,871 as nonrecurring revenue. The main business was revising the state revenue forecast for FY 2026, FY 2027, and the long-range outlook. The Division of Administration recommended a $113 million reduction to the FY 2026 State General Fund forecast and a $104 million reduction for FY 2027, citing weaker-than-expected individual income tax collections, softer corporate income tax receipts, and some weakness in general sales tax, partly offset by stronger motor vehicle sales tax and higher mineral-related revenues tied to oil prices. The Legislative Fiscal Office presented a somewhat different but broadly similar forecast, with modest net increases to the general fund bottom line in the current year and next year, emphasizing caution on income and corporate taxes and more optimism on sales, severance, royalties, and some other revenue streams.
A substantial portion of the discussion focused on the causes of the income tax shortfall, especially withholding and refund patterns after tax changes that lowered rates. Department of Revenue officials explained that withholding tables had been set with a cushion that may be producing larger refunds, and said changing the tables could quickly reduce overwithholding, though the effect would take time to show up. Members also discussed corporate collections, the lingering effects of the franchise tax repeal, the role of settlements and audits, and the extent to which collections are voluntary versus enforcement-driven. The Department of Revenue said corporate collections still had key filing and estimated-payment milestones ahead in May and June, and that refund and audit activity related to the former franchise tax would continue for some time.
The conference then adopted the Division of Administration’s FY 2026 forecast, the FY 2027 recurring forecast, and the long-range forecast, along with the proposed inflation rates for the Millennium Trust and parish severance allocation. Members also adopted the incentive expenditure forecast, noting that the reported amount is only the REC-reported portion and that larger tax exemption amounts come off the top before appropriations. The Treasurer reported a General Fund cash balance of about $404.1 million as of May 5, 2026, and an interfund borrowing base of about $9.18 billion, saying cash levels were similar on average to the prior year. The meeting ended with a note that another REC meeting might be needed depending on the May 16 election, and the conference adjourned without objection.
LA
Louisiana 2026 Regular Session
Revenue Estimating Conference May 8th, 2026
Transcript Highlights:
- I think our audit team looks at it, and it was more of a 50-50 split, where we had a 60-40 when we looked
- we collect through enforcement or involuntary compliance, you're looking at about $4,500 million in audit
- get it for the period of 2025 because it went away, but you still will have a minute returns and audits
- So the revenue audit, that works out? Is that a good return on investment for us?
- Because even though in the audit, even though it's $400 to $500 million in collections, the impact it
Summary:
The Revenue Estimating Conference met with four members present and first approved the December 11, 2025 minutes. Members then recognized the FYI end-of-balance of $577,077,871 as non-recurring revenue. The main business was revising the state revenue forecast for FY 2026, with the Division of Administration recommending a reduction of about $113 million, driven primarily by weaker individual income tax collections, softer general sales tax receipts, and a substantial cut to corporate income tax forecasts. The Legislative Fiscal Office presented a somewhat different but still cautious outlook, and members discussed withholding rates, refund growth, corporate collections, and the effects of the franchise tax repeal and tax reform changes. After questions to the Department of Revenue about collections, refunds, enforcement, and settlements, the conference adopted the Division of Administration’s FY 2026 forecast.
The conference then reviewed the FY 2027 recurring forecast. The Division of Administration again recommended a reduction, this time about $104 million, citing continued caution on individual income and corporate taxes, while the Legislative Fiscal Office projected a net increase of about $127 million, largely from sales tax, severance, royalties, vehicle sales tax, and other revenue streams. Members discussed the practical budget impact of the revised forecasts, including the need to reduce spending and the difficulty of funding a possible teacher stipend if a constitutional amendment fails. The FY 2027 recurring forecast was adopted.
Members also adopted the long-range forecast, the proposed inflation rates for the Millennium Trust and parish severance allocation, and the incentive expenditure forecast. The incentive discussion noted that reported incentive costs reduce available revenue before appropriations, and members raised the possibility of reviewing or capping such incentives. The Treasurer’s Office then reported that the General Fund cash balance was $404.1 million as of May 5, 2026, and the interfund borrowing base was about $9.18 billion, with cash positions generally similar to the prior year. The meeting ended with a note that another REC meeting might be needed after the May 16 election, followed by adjournment.