Transcript Highlights:

• Uh, there isn't really an accounting standard for that calculation. So, we've worked on it.
• So, we should have that calculation to respond to that question in the next week or so.
• <00:57:00.720> We calculation. So, we've worked on it. We calculation.
• <00:57:06.079> uh<00:57:06.240> to we should have that calculation uh to we should
• have that calculation uh to respond<00:57:06.720> to<00:57:06.880> that<00:57:07.040>

Keywords: Meeting Start: 00:00:35 Attendance Roll Call: 00:00:55 Approval of Minutes: 00:02:56 Deferred Compensation Authority Update: 00:03:12 Retiree Health Update - TRS: 00:15:58 Retiree Health Update - KPPA: 00:56:13 Adjournment: 01:08:10, 958, all

Summary: The Public Pension Oversight Board met with a quorum, approved the prior minutes, and heard updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. The deferred compensation update highlighted continued growth in assets to about $4.787 billion and roughly 88,000 participants, strong retention from auto-enrollment, a marketing campaign tied to pay raises that generated additional participation, and a new self-directed brokerage account expected to launch July 1 of the coming year for participants with at least a $40,000 balance, allowing up to 25% of their account to be moved into the brokerage window. The director also described the free financial planning service, which has been used by about 3,500 participants with a high return rate, and said the plan is currently in a fee holiday; if fees are charged, they are capped at $237 per year for most participants. Members asked questions about who provides the CFP service, the fee structure, and the brokerage eligibility threshold. The director said the CFP service is provided through the authority’s service bundle with Nationwide, not as a separate paid service, and explained that the fee cap and current fee holiday are intended to keep the program low-cost. Board members praised the deferred compensation program’s performance and asked for a copy of the legislation referenced in the presentation. TRS then presented on retired teachers’ health insurance. Barnes first clarified how declining federal contributions for federally funded school positions affect the retirement annuity trust, explaining that if those federal dollars fall, the amounts would need to be covered through the SEEK formula and that the projection for those contributions is about $80 million over the next three years. He then reviewed TRS retiree health coverage, distinguishing between KEHP for retirees under 65 or not Medicare-eligible and MEHP for Medicare-eligible retirees, and explained that TRS recently completed RFPs for both prescription drug and medical coverage. TRS will keep Express Scripts for prescription drugs, but will move the Medicare Advantage medical plan from UnitedHealthcare to Humana on January 1, 2026, while keeping the plan design, provider access, and out-of-pocket structure largely unchanged, with a new hearing-aid benefit of $500 per ear. Barnes also reported the 2026 premium and contribution changes: the maximum TRS contribution toward KEHP will rise to $1,144.96 from $930.76, an 18% increase that he said will require roughly $15 million to $16 million more in the state budget, while the MEHP premium will drop to $200 per month from $210. He said the TRS board has statutory authority to set these amounts and that the changes will have mixed actuarial effects, with the KEHP increase being negative overall and the MEHP decrease positive.

Transcript Highlights:

• that for us between 237 237 calculated that for us between 237 237 million<04:50:08.040> and<
• period in from five to three calculation period in from five to three years<04:54:15.240> and
• <04:59:43.280> and of the nature of that calculation and of the nature of that calculation
• <05:11:15.240> average<05:11:15.600> final<05:11:16.040> compensation calculating
• average final compensation calculating average final compensation but<05:11:17.360> excluding

Keywords: 1189, house, all

Summary: The committee first took up House Bill 187, which would allow parents or guardians to seek restraining orders on behalf of a minor child even when the alleged perpetrator is not a family or household member. Tracy Sirles testified that the bill was prompted by her family’s experience after being told by state police to seek a restraining order, only to learn the current law did not allow it because the offender was the child’s best friend’s father. Members agreed the change was straightforward, noted the fiscal note reflected only a small indeterminate cost to the judicial branch, and moved House Bill 187 ought to pass; the motion was approved unanimously. The committee then discussed House Bill 66, a Right-to-Know bill that removes “citizen” language in favor of “person” in some provisions and allows certain New Hampshire-connected requesters to seek records electronically if the records already exist in that format. Members reviewed concerns about defining “member of the media,” the scope of electronic requests, and a sentence stating appeals would have no filing fee or search charge. After debate, the committee voted to amend the bill by removing that fee-waiver sentence, then recommended House Bill 66 ought to pass as amended. The vote was 6-3. Next, the committee heard from the Environment and Agriculture chair about several solid-waste-related bills being folded into trailer bill language, including House Bill 215 and House Bill 171, with discussion of a possible three-year landfill moratorium and the need to address DEES staffing and funding concerns. DEES later clarified that the revised approach would not require new positions or create a fiscal impact because the new solid waste commission would be self-funded through filing fees. The committee voted unanimously to retain House Bill 215. Finally, the committee considered House Bill 566, which requires landfill permit applications to include a detailed leachate management plan and more information about disposal contracts. The sponsor said the bill was developed with DEES to address leachate problems and improve safety oversight. DEES testified that the bill largely reflects current practice and would have no specific fiscal impact, with existing staff able to absorb any review workload. The committee moved House Bill 566 ought to pass, and the motion was approved unanimously. The committee also briefly discussed House Bill 624, a grant program for local river management advisory committees, but no vote was taken in the portion provided.

Transcript Highlights:

• I'd like to know how that calculation is being calculated.

Keywords: 996, all

Transcript Highlights:

• I'd like to know how that calculation is being calculated.

Transcript Highlights:

• He added that the percentages are different because of how the initial calculation is structured.
• That comes off the calculation that goes to the districts.
• Another $200,000 comes off the top calculation for management of some aspects of the districts.

Summary: The committee met in public hearing on Senate Bill 1586, sponsored by Sen. Ben Brown, which would address abandoned, ownerless landfills in Missouri. Brown described the bill as a response to a constituent who discovered contamination near property in Franklin County, and said the measure had evolved through multiple versions. He explained that the bill would give the Department of Natural Resources clearer authority over ownerless landfill sites, direct 10% of tipping fees from solid waste districts toward assessment, investigation, testing, remediation, and management of those sites, create an interim committee for further study, and tighten seller disclosure requirements to require written, dated notice by mail. Brown said the state has 29 such sites and argued that counties and DNR lack the resources to study or clean them up. Support testimony came from Marisa Grosoccoe, dean of engineering at the University of Missouri, who said the bill provides both a regulatory framework and a steady funding stream, and that environmental studies are a necessary first step to determine the scope and cost of cleanup and potentially return contaminated land to productive use. She said the funding would likely support only a few studies per year, but would reduce uncertainty and help unlock other funding sources. Opposition came from representatives of solid waste districts, including Chris Bussin and Diana Bryant, who argued the districts already perform important recycling, household hazardous waste, and grant administration work, and that the proposed diversion of tipping fees would reduce funding for those programs. They said the districts are already tightly regulated, that the abandoned landfill issue has been known for years, and that DNR already has authority to act. Lacey Miller, speaking for informational purposes, said the districts support local recycling and community programs, especially in small counties and schools, and warned that consolidation or funding cuts would hurt local services. No vote was taken; the hearing on Senate Bill 1586 was concluded.

Transcript Highlights:

• the final bill on our action calendar today is House Bill 410, which is an act relating to the calculation
• In subsection 8121, the Senate proposal of amendment replaces the phrase 'clock for calculating' with
• the word 'calculation.'

Keywords: 926, house, all

Summary: The House opened with a devotional by Representative Tom Stevens of Waterbury, who reflected on the Sermon on the Mount as a call to resist exclusion, greed, and coercion and to focus on blessing and care for those in need. After the devotional, the chamber suspended rules to take up Senate Bill 313, relating to transforming Vermont’s career and technical education system, and committed it to the Committee on Education. The House also adopted HCR 241, a concurrent resolution congratulating University of Vermont Distinguished Professor and Vermont State Climatologist Dr. Leslie Ann Dupigny-Giroux on receiving the Manny L. Bhaumik Award for Public Engagement with Science, with members offering remarks about her climate work and public service. On the action calendar, the House passed Senate Bill 157 on recovery residence certification in concurrence with proposal of amendment, and Senate Bill 239 on the child abuse and neglect reporting working group in concurrence with proposal of amendment. During discussion of S. 239, a member explained that the House amendment was a technical correction adding the Vermont School Counselor Association and the Agency of Education as stakeholders for the working group to consult. The House also concurred in the Senate proposal of amendment to House Bill 410, which concerns the calculation of recidivism and other criminology measures; the Judiciary Committee said the Senate change was a clarifying wording revision and supported it. The chamber then moved through announcements, including recognition of visiting family members, a UVM intern, and notice of a caucus discussion on permitting modernization. A member also invited colleagues to view Vermont Railways’ train in Montpelier. The House completed its orders of the day and adjourned until the next morning at 9:30 a.m.

Transcript Highlights:

• And our five-year tactical plan is designed to hit our sustainable harvest calculations with a similar
• Harvest calculations with a similar forest mix have been, as has been harvested in the past.
• harvest levels are going to be set by the Board of Natural Resources through the sustainable harvest calculation

Summary: The Senate Agriculture and Natural Resources Committee held a work session with an update from the Department of Natural Resources (DNR). Commissioner Dave Upthe Grove outlined DNR’s size and scope, previewed agency-request legislation, and emphasized budget priorities. He said DNR will seek authority to sell ecosystem service credits, better use underutilized water rights with tribal consultation, add a tribal representative to the State Board of Natural Resources, make minor timber-sales efficiencies, and include wildland firefighters in the LEOFF pension system. He also urged restoration of wildfire prevention and preparedness funding, warning that reduced funding would mean fewer firefighters, less forest health work, and less support for rural fire districts. He noted DNR’s wildfire suppression costs are rising and argued prevention spending can reduce larger, more expensive fires. State Forester George Geisler followed with a detailed wildfire season review. He said Washington now responds to fires year-round and also assists other states, including Texas. He described DNR’s use of 31 aircraft, 691 firefighters, and corrections-based crews, and said the agency’s success rate for keeping fires under 10 acres improved slightly from 93.7% to 94.1%. He highlighted increased arson activity, especially around Spokane, and described the Crescent Road Fire as an example of early detection, rapid response, and the use of bulldozers, aircraft, and hand crews to contain a fire to 182 acres with no structure losses. Senator Saldan praised the emphasis on prevention and the use of bulldozers as cost-effective tools. Assistant deputy supervisor Dwayne Emmons then reviewed the trust land transfer program, which was codified in statute in 2023 after being funded through the capital budget for decades. He said more than 130,000 acres of underperforming trust land have been transferred since the 1990s to other public or tribal entities for more appropriate use, while DNR acquires replacement lands to keep the trust whole. He described the current application and ranking process, including tribal input, and said DNR is requesting funding for remaining parcels from the last round, including portions of Tract C, Babcock Bench, and Middle Fork Snoqualmie. In questions, Senator Wagoner raised concerns about DNR’s decision to remove some acres from timber harvest rotation and its impact on local revenue and mills; the commissioner responded that current five-year harvest plans provide short-term stability and that any changes would be explored through the Board of Natural Resources process, not through immediate reductions in supply. The committee then received a history briefing from staff member Jeff Olson on the Washington Fish and Wildlife Commission and agency structure. He traced the evolution from early fish and game commissioners to the current commission-appointed director model adopted by voter-approved Referendum 45 in 1995. Olson explained the commission’s statutory duties, membership requirements, and how Washington compares with other states. Chair Chapman said he had no plans to hear a bill this session changing the commission’s makeup, but he expressed personal interest in exploring reforms, accountability, and possibly a future broader coalition or referendum process. No votes were taken; the meeting was informational only, and the chair adjourned the session with holiday and New Year’s wishes.

Transcript Highlights:

• Uh, who's retired and what their retirement calculations are? Same thing with uh Medicaid.
• Uh, calculations for who gets what kinds of benefits.
• That trying to affect that bigger, it's just, I mean, it's, you can't calculate, you can't get there

Transcript Highlights:

• Senate Bill 1337 aims to provide a fair and accurate system for calculating tax obligations.
• The current grant metric calculations result in many volunteer fire departments waiting for years for
• As projected in January of next year, then transfers to the ESF cease until the next cap is calculated

Bills: SB868, SB1337, SB1371, SB1377, SB1426, SB1620, SB2064, SB2065, SJR4, SJR 4

Keywords: SB 868, rural volunteer fire department assistance program, volunteer fire department assistance fund, Texas Government Code, wildfire, wildland fire, high-risk wildfire area, fire suppression, rural fire departments, volunteer firefighters, emergency response, public safety, grant allocation, appropriations, disaster preparedness, tax penalties, interest calculation, overpayment, tax law, refund process

Transcript Highlights:

• If you're interested in that, we can certainly provide you with the way that we calculate.
• If you're interested in that, we can certainly provide you with the way that we calculate.
• If you're interested in that, we can certainly provide you with the way that we calculate.
• Can certainly provide you with the way that we calculate.
• To calculate the payment, we start with a large base value.

Keywords: 928, house, all

Summary: The Department of Safety presented an overview of highway fund and unrestricted revenue collections, focusing on the Division of Administration, the Road Toll Bureau, and the Division of Motor Vehicles. Amy Newbery explained that the main unrestricted funding sources are highway funds and general funds, with highway fund revenue of about $263 million in FY 2024 and a FY 2025 projection of $261.2 million. She said revenue growth has been modest and has not kept pace with costs, creating structural deficits that required general fund transfers of $50 million in FY 2022-23 and another $10 million in FY 2024-25 to balance the fund. Jennifer Hall described Road Toll operations, including motor fuel tax collection at the distributor level, compliance enforcement, and licensing for fuel distributors, transporters, IFTA carriers, and oil discharge/pollution control. Members asked about IFTA, dyed-fuel enforcement, the possibility of using the state forensic lab for dyed-fuel testing, and whether audit positions had been filled; the department said it recently hired a part-time fuel enforcement officer, still uses IRS testing, could explore lab testing, and had no audit vacancies. Hall also discussed factors affecting fuel-tax revenue, including gas prices, crude oil forecasts, weather, tourism, GDP, and inflation, and said FY 2024 road toll revenue was $127.5 million, above plan, with FY 2025 projected at $127.71 million. The committee then turned to DMV-related revenues. Newbery said motor vehicle registration revenue was $93.1 million in FY 2024 and is projected at $90.4 million in FY 2025, with the state share going directly to the highway fund. Members asked about the state/town fee split, the five-year registration cycle dip, the distribution of registration revenue by vehicle weight category, and the impact of electric-vehicle surcharges; the department said the five-year dip is still occurring and will fade over time, and it would follow up on the weight-category breakdown. The presentation also noted that driver-license revenues have stabilized, inspection revenues remain steady, plea-by-mail revenue was added to the highway fund in FY 2024, and general fund revenues tied to the department are relatively small and have declined as some functions moved to OPLC. No votes or formal actions were taken.

Transcript Highlights:

• That's the section of law that provides the revenue calculation for services for these children, and
• That's the section of law that provides the revenue calculation for services for these children, and
• a brief description of the bill followed by the assumptions on how the Department of Education calculated
• a brief description of the bill followed by the assumptions on how the Department of Education calculated
• calculated the additional Revenue<00:59:35.520> Authority<00:59:35.960> for<00:59:36.720

Keywords: 1187, senate, all

Transcript Highlights:

• the bill that we passed last year to help this same group of workers and keeps it consistent for calculating
• the bill that we passed last year to help this same group of workers and keeps it consistent for calculating
• :10:13.279> it<00:10:13.440> consistent<00:10:13.839> for<00:10:14.079> calculating
• and keeps it consistent for calculating and keeps it consistent for calculating the<00:10:14.720

Bills: HF3393

Keywords: unemployment insurance, iron ore mining, additional benefits, labor force, economic support, 1183, house

Transcript Highlights:

• Allowing for retirement calculation, administration, and benefits through the collective bargaining process
• Allowing for retirement calculation, administration, and benefits through the collective bargaining process
• Allowing for retirement<00:24:39.679> calculation,<00:24:40.320> administration retirement
• calculation, administration retirement calculation, administration and<00:24:42.080> uh<00:24

Bills: SB2119, SB3131, SB3069, SB3180, SB2137, SB2993, SB2778, SB2672, SB2014, SB2967

Keywords: reimbursement, public employees, travel costs, government travel policy, finance management, job title, administrative assistant, executive assistant, state personnel, civil service, modernization, employment standards, DAGS, Department of Accounting and General Services, comptroller, civil service exemption, collective bargaining exemption, public works special project branch, specialized public works, information technology modernization

Transcript Highlights:

• So we are looking, working with Representative Gordon to look at perhaps a per-pupil calculation model
• /c><00:14:35.600> a<00:14:35.839> per<00:14:36.160> pupil<00:14:36.720> calculation
• perhaps a um a per pupil calculation perhaps a um a per pupil calculation model<00:14:38.160>
• And so the calculation is it's $42.5 million in escrow, and there's $7.5 million in first-year operating

Keywords: 958, all

Summary: The House Budget Review Subcommittee on Postsecondary Education met to begin hearing budget requests from Kentucky universities. Eastern Kentucky University President David McFaden highlighted EKU’s enrollment growth, its large population of Pell-eligible and first-generation students, and its role in producing graduates for Kentucky’s workforce, especially in health care, public safety, manufacturing, engineering, and aviation. He said EKU is seeking support for a Center for Health Innovation, including a doctor of osteopathic medicine program, with a $50 million accreditation escrow and startup funding that would be returned to the state after accreditation. He also described EKU’s health programs, which have strong pass rates and high in-state employment outcomes, and said the university wants continued asset preservation funding, inflationary operating support, and other recurring budget items. McFaden also outlined EKU’s aviation request, including $10 million for new aircraft and support for an enhanced air traffic control program created in response to a legislative study. He said the program would enroll cohorts of about 30 students, likely attract out-of-state students, and require a $5 million startup investment plus $1.5 million in annual recurring support. He added that EKU’s lab school is seeking a revised funding model tied to enrollment rather than a flat mandated amount. Committee members asked follow-up questions about the medical school escrow, aircraft needs, and program capacity, and McFaden clarified that the escrow would remain intact until accreditation and then be returned to the general fund. Kentucky State University President Kakpo then reviewed prior capital support that helped repair a dorm and several leaking roofs, and said the university is still addressing campus infrastructure problems. He said KSU’s main request is a new health sciences building to house its growing nursing program and language program, along with $40 million for additional dorm renovations and a carve-out for its aquaculture program. Kakpo said the aquaculture PhD proposal would be federally funded and could bring in more revenue, while the new building would help relieve overcrowding and support KSU’s research role. In response to questions, he said KSU’s campus housing capacity would be about 1,334 beds if all dorms were repaired, and that the university is rotating students through renovated buildings while trying to keep them on campus. Committee members also raised safety concerns about the December campus shooting at KSU. Kakpo said the incident was isolated, expressed sympathy for the families affected, and said the university has reviewed campus procedures, added police and security positions, and is strengthening safety processes. The meeting did not include any votes or formal actions; it was a budget presentation and question-and-answer session.

Transcript Highlights:

• It's important to note that these are not direct measurements of food insecurity, but they're calculations
• And so the punchline is that when the census food security data goes away, the calculations behind a
• It's important to note that these are not direct measurements of food insecurity, but they're calculations
• And so the punchline is that when the census their calculations based on other county level data.
• And so the punchline is that when the census food security data goes away, the calculations behind a

Summary: The House Agriculture and Natural Resources Committee held a work session on food systems and food security, with no public testimony. The first panel focused on household food security and data. Marie Spiker of the University of Washington explained what food insecurity means, its health impacts, and the importance of reliable measurement, warning that the federal Census food security data is being terminated and that there is no true replacement. She described Washington’s WaFOOD surveys as a useful complement, not a substitute, and noted that they show food insecurity affects households at a range of income levels. Katie Raines of WSDA described the state’s food systems work, the need for shared data and dashboards, and the role of agriculture in both food production and the hunger safety net. Committee members asked about the $2.2 million state food assistance allocation, the scale of the SNAP gap, and how household size, housing costs, and other factors intersect with food insecurity. The committee then heard from Tracy Roof of the University of Richmond on the history of SNAP and its relationship to agriculture. She traced the program from Depression-era commodity distribution through the modern farm bill, emphasizing that food assistance has long functioned both as anti-hunger policy and as an agricultural and economic stabilizer. She highlighted how SNAP expands during recessions, supports retailers and farmers, and has become more important since the Great Recession because participation stayed high even as the economy recovered. Roof also noted that Washington has relatively high SNAP participation and low payment error rates, but that recent federal changes could reduce eligibility and shift more costs to states. Members asked how Washington compares to other states and why the program is structured as it is. A later panel featured the Washington State Food Policy Forum and a joint systems presentation from the Washington Farm Bureau, Washington Retail Association, and Washington Food Industry Association. The Food Policy Forum described its consensus-based recommendations on food insecurity, climate and water, regional food infrastructure, farmland protection, and farm viability, including more support for producer purchasing, water planning, and farmland conservation. The industry groups presented a systems map showing how agriculture, processing, retail, and transportation are interconnected, and argued that rising costs, regulations, labor and fuel expenses, retail theft, and thin margins make it harder to keep farms and stores viable. They said food security depends on store viability and local agricultural profitability, and promised to provide a more detailed list of policy recommendations. The final panel included state agency staff from DSHS, DOH, and WSDA. Bryce Montgomery said the Basic Food program serves about 920,000 Washingtonians monthly and warned that H.R. 1 could require Washington to pay up to 15% of SNAP benefits, broaden work requirements, and restrict immigrant eligibility. Karen Mullen described DOH nutrition programs, including WIC, farmers market nutrition benefits, fruit and vegetable incentives, and a fruit-and-vegetable prescription program, while noting funding instability and the end of SNAP-Ed. WSDA’s Katie Raines began describing ongoing food assistance and farmer support challenges, including farmer mental health and the need to address food insecurity across both producers and consumers.

Transcript Highlights:

• It's also helping to provide targeted tutoring for specific nursing. such as dosage calculations, pharmacology
• Madam Chair, members of the committee, from my calculations, I think we would be able to do that with
• So let me ask you then, Madam Chair, are they calculated in some way where they're calculated that this
• We're calculating every touch point for these students where they're actually learning something.

Transcript Highlights:

• It's a per-unit calculation that's lower than a house, but when you multiply it by all the units in multifamily
• There is, I think there's a complex calculation, but that's internally within the city.
• so and there's no limit to what it can increase there there is I think there's a it's a complex calculation
• question about an apartment building, it's a much larger meter to that apartment, and so the cost is calculated
• the size of the pipe, and then you can do individual meters on the homes, but that number that's calculated

Summary: The committee first took up House Bill 5695, which would create the Sayers Ranch Municipal Utility District in Bastrop County between Elgin and Bastrop. Representative Gurdis said Bastrop County commissioners unanimously supported the district. There was no public testimony, the bill was left pending, and later reported favorably to the full House on an 8-0 vote. The main debate centered on Senate Bill 291, which would require condemning entities to pay landowner attorney’s fees if they fail to provide 10 years of appraisal reports with an initial offer in an eminent domain case. Supporters, including Rita Beving and Charles Maley, argued the bill would add an enforcement mechanism and better protect landowners in a process they described as intimidating and lopsided. Opponents, including Tom Zabel and Lisa Kaufman, said current law already provides a remedy through abatement and attorney’s fees under Section 21.047 of the Property Code, and warned the bill could create inconsistency, delay public infrastructure projects, and increase costs. The bill was left pending. The committee also heard House Bill 5699, a simple MUD boundary change in Harris County Municipal Utility District No. 405 that would allow a tract to leave one district and join another. Representative Schofield said the landowner and district agreed to the change and to pay the tract’s share of debt. The committee substitute was adopted and the bill was reported favorably on an 8-0 vote. Later, the committee considered House Bill 5489, which would impose a four-year moratorium on impact fees. Representative Dyson framed it as an “active study” to test whether impact fees raise housing costs. College Station officials and other opponents argued impact fees help fund infrastructure for growth and that local governments should retain control; supporters said the fees are regressive and add to housing prices. The bill was left pending. The committee then heard Senate Bill 292, which would update the Landowner Bill of Rights to add information on surveys, require separate offers for property not sought in condemnation, and require the rights document to be delivered with the initial offer. Supporters said it would improve transparency and fill gaps in the current document, while opponents said it was unnecessary because the law already exists and warned against revisiting a 2021 compromise. The transcript ends during that discussion.

Transcript Highlights:

• Cut was calculated. That's a little different for other state agencies.
• It was included in the calculation of the 7%.
• Was calculated by taking the current year $125 million cut, adding it back into our base, and then calculating
• So our cut was calculated in a slightly different way than other states.

Keywords: 988, house, all

Transcript Highlights:

• Minnesota Housing Finance Agency calculates that Minnesota needs roughly 350 million annually in emergency
• consider and to keep focused on Minnesota Housing Finance Agency Minnesota Housing Finance Agency calculates
• that<00:16:08.320> Minnesota<00:16:08.880> needs<00:16:09.600> roughly calculates
• that Minnesota needs roughly calculates that Minnesota needs roughly 350<00:16:10.720> million
• Um, I'll just also mention that one of our community action partners has calculated that it costs them

Keywords: 1183, house

Transcript Highlights:

• So the indirect costs are calculated by looking at what's called cost accounting.
• Calculated by looking at what's called cost accounting.
• When you calculate the housing into that, does that stay the same that you can do that?
• When you calculate the housing into that, does that stay the same that you can do that?
• When you calculate the housing into that, does that stay the same that you can do that, or is that taken

Summary: The Higher Education Budget Subcommittee met to hear an overview of State University System finances from the Board of Governors and detailed budget presentations from Florida State University, the University of Central Florida, and the University of North Florida. The witnesses explained how university budgets are organized into fund categories such as education and general, contracts and grants, auxiliaries, local/designated funds, capital projects, and component units such as direct support organizations. They also described carry forward funds, the statutory reserve and spending-plan requirements, the PICO/HECO capital outlay process, and how universities use investment accounts, audits, and board oversight to manage restricted and unspent funds. The universities emphasized that most operating dollars are restricted to specific uses and that state support helps keep tuition low. Members asked about differences in funding levels among institutions, especially why FSU receives more funding than UCF despite lower enrollment. Officials said preeminence funding, performance funding, and special legislative appropriations explain much of the difference, and the Board of Governors noted that Florida now has four preeminent universities, with UCF nearing that status. Questions also focused on what happens to unspent carry forward money, how it is invested, and whether the Board of Governors or Legislature can require funds to be returned; officials said the money is invested conservatively, subject to board and audit oversight, and can roll forward under a detailed spending plan, though the Legislature can change funding levels. The committee also discussed capital projects, with members asking about delays, inflation, and whether more projects should be phased or funded faster; witnesses said PICO funds remain with the state until needed and are reimbursed as construction proceeds. A substantial portion of the discussion covered athletics, research, student fees, and endowments. The universities said athletics is generally expected to be self-supporting, though limited use of auxiliary or carry forward funds may be allowed for projects benefiting the broader student body. They also described the financial pressures from name, image, and likeness changes and new NCAA-related costs, and said institutions are planning for those changes now. On research, the universities explained sponsored research funding, indirect cost recovery, compliance obligations, and tech transfer, but did not provide specific commercialization revenue figures and said they would follow up. Members also asked about student fee increases, student input, counseling and wellness funding, and how housing costs affect affordability; the universities said student committees and boards review fees, and aid packaging is intended to keep student debt low. Endowments were described as being held in separate foundations/DSOs with independent investment committees and used mainly for scholarships, faculty support, and research.