Transcript Highlights:

• But looking at your budget, your budget is $9.58 billion for the next biennium. Yes, sir.
• But looking at your budget, your budget is $9.58 billion for the next biennium. Yes, sir.
• But just looking at your budget, your budget is $9.58 billion for the next biennium. Yes, sir.
• Eight years ago, was it 23% of your budget? Chair: So eight years ago, was it 23% of your budget?
• Senator Kolkhorst: ...budget.

Bills: SB 1

Keywords: campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards, 1185, senate, all

Transcript Highlights:

• And this is why I'm here asking you all to help us allocate better budgets, not only for my organization
• And this is why I'm here asking you all to help us allocate better budgets, not only for my organization
• And this is why I'm here asking you all to help us allocate better budgets, not only for my organization
• And this is why I'm here asking you all to help us allocate better budgets, not only for my organization
• Asking you all to help us allocate better budgets, not only for my organization but for all of the houses

Keywords: 1183, house

Transcript Highlights:

• This amount is allocated among the qualifying schools in proportion to the number of students served
• ' budget projections.
• ' budget projections.
• ' budget projections.
• as well as subsequent Year's budget as well as subsequent Year's budget<01:30:39.199> projections

Keywords: 1187, senate, all

Transcript Highlights:

• PED agency budget lives in House Bill 2.
• How does that compare with the 2026 budget? Mr.
• That calmed me down a lot, you know, as we got the budget very late in the process.
• School for the blind in the budget, but it's not in statute.
• And we're always going into our operational budget.

Transcript Highlights:

• That could be unappropriated reserve funds, funds from the Budget Stabilization Fund, etc.
• The Legislative Budget Commission.
• I'd like to talk about the Legislative Budget Commission.
• The allocation of 12,000 guardsmen is based on our state's 1958 population.
• I have a number of motions related to our budget rollout that I want to share with you today.

Summary: The Florida Senate convened with prayer, the Pledge of Allegiance, and a series of introductions recognizing visiting groups and guests, including college students and leaders, health and nonprofit organizations, Catholic Days at the Capitol participants, foreign dignitaries from Morocco, and others. Senators also observed a moment of silence for the victims of the Marjory Stoneman Douglas High School shooting, with remarks honoring the Parkland community and the school safety law that followed. The chamber then took up a special order calendar of bills, beginning with several claims bills and local relief measures. SB 14 for Jose Correa against Miami-Dade County passed 37-1, and HB 6517 for A. Sanchez-Mayan against the City of St. Petersburg passed after substitution. HB 6515 for Lordes Latour and Edward Lator against Miami-Dade County also passed 38-1. The Senate then approved SB 52 on volunteer armed security at places of worship (39-0), SB 124 updating Florida Virtual School statutes (39-0), SB 504 on code inspector body cameras (39-0), and SB 506 on related public records (38-1). A lengthy debate centered on SB 7040, which recreates the Emergency Preparedness and Response Fund through December 31, 2027. Several senators argued for tighter oversight and supported an amendment by Senator Berman that would have limited fund use and required Legislative Budget Commission approval for continued spending; that amendment failed 12-27. The underlying bill then passed 29-10. Senators also adopted SB 594 on local housing assistance for mobile home owners (39-0), SB 656 strengthening Internet Crimes Against Children programs (39-0), SB 806 creating right-to-repair protections for wireless devices and agricultural equipment (39-0), SB 816 establishing the University of Florida Diabetes Institute (39-0), SM 1186 urging Congress to increase Florida National Guard force structure by voice vote, SB 308 creating the Florida Museum of Black History with a late-filed amendment clarifying ex officio nonvoting legislative members (39-0), and SB 572 updating ethics law to include foster children and foster parents, as amended (38-0). The Senate also withdrew SB 1360 from further consideration, certified passed bills to the House, and adjourned until February 19.

Transcript Highlights:

• Office from the whole U.S. and um Budget Office from the whole of the U.S.
• That is our land use allocation model, which we use UrbanSim for. And that's Alex.
• Our land use allocation model, which we use UrbanSim for.
• UrbanSim allocates households down to the local level.
• And then on the allocation side, you know, we were starting to see...

Keywords: 995, all

Summary: The Senate Committee on the Census heard presentations on Massachusetts population trends and how they affect state housing planning. Susan Strait of the UMass Donahue Institute reviewed recent Census Bureau estimates, saying Massachusetts grew strongly over the last decade but that growth has slowed sharply in the newest estimates, largely because net international migration has fallen from a post-pandemic surge. She also described the four components of population change—births, deaths, domestic migration, and international migration—along with aging trends, declining fertility, the importance of the millennial cohort, and the role of foreign-born residents in births and the labor force. Committee members asked about college students in group quarters and about counting incarcerated people, and Strait explained the Census Bureau’s current methods and noted that some issues remain under discussion. Jesse Guerrero of the Metropolitan Area Planning Council then explained how MAPC uses UMass Donahue population projections to build household and local land-use forecasts for MassDOT and the statewide housing plan. He said the earlier transportation projections anticipated slower statewide growth and regional decline in western Massachusetts and on the Cape, with more growth in eastern Massachusetts. He also described how household formation, development patterns, zoning, and affordability are modeled, and noted that newer housing-plan scenarios use updated Census data and different assumptions about migration. Senator Miranda raised concerns about Cape Cod population loss and whether seasonal residents are being counted, and Guerrero and Strait said the projections focus on permanent residents, not seasonal populations. Tim Reardon of the Executive Office of Housing and Livable Communities tied the demographic forecasts to the statewide housing plan, saying housing demand exists even under low-growth or slight-decline scenarios. He said the plan estimates about 115,000 homes are needed to address existing shortages, including doubled-up households, shelter families, seasonal conversion losses, and the need for healthier vacancy rates, plus additional units tied to future household formation. He added that the state’s total housing target is about 222,000 units, or as high as 262,000 under a higher-growth scenario. Senators pressed him on whether the scenarios are now too high given the recent drop in immigration, on affordability and out-migration, and on whether the housing plan adequately reflects homelessness and overcrowding in Boston and elsewhere. Reardon said the plan includes production, rental assistance, shelter prevention, and preservation strategies, and noted that HLC is also using grant programs and MBTA Communities-related infrastructure funding to support housing production statewide.

Transcript Highlights:

• budget against $200 million. budget against $200 million.
• you know, the new administrative budget you know, the new administrative budget that<00:14:54.800
• <00:20:55.919> of just articulated the the allocation of just articulated the the allocation
• money in the governor's proposed budget money in the governor's proposed budget shows<00:21:30.640
• Um as far in that that budget document.

Keywords: 00:00:20 - Call to Order/Roll Call 00:02:00 - Update on Rural Health Transformation Program 00:29:20 - Discussion of 26RS HB 134 00:36:35 - Roll Call Vote on 26RS HB 134 00:37:41 - Consideration of Referred Administrative Regulations 01:09:44 - Adjournment, 958, all

Summary: The Health Services Committee met to receive an update from Cabinet for Health and Family Services Secretary Steven Stack on Kentucky’s Rural Health Transformation Grant. He explained that all 50 states applied and were awarded funding, and Kentucky received about $212.9 million over five years, with the first year treated as a nine-month period. He emphasized that the award is a cooperative agreement with CMS, is not Medicaid funding, cannot be used to supplant existing funds, and is limited to the five areas approved in Kentucky’s application. He also said the state must submit a revised budget before major spending begins, and that CMS could claw back money if performance metrics are not met. Secretary Stack outlined the five focus areas: maternal health, mental health, oral health, emergency medical services, and chronic disease prevention/management, especially obesity and diabetes. He described possible approaches such as expanding behavioral health crisis stabilization models like EMPath, using teledentistry and mobile services, strengthening EMS staffing and treat-in-place options, and building healthier nutrition and activity supports. He said the application was developed quickly with broad stakeholder input and that the state plans to work with universities, nonprofits, and other partners through procurement and other formal processes. He also noted the program will be overseen by the public health department, with Commissioner John Langfeld leading the effort. Committee members asked about the grant timeline, the split between formula and competitive funding, the role of certificate of need, and whether new laws or regulations would be needed. Stack said the state believes it can implement the approved projects under current law, though some broader policy issues such as certificate of need were not included because they would be risky to change within the grant timeline. Members also asked how stakeholders can submit ideas; Stack pointed them to the public website and contact email, saying additional partner information will be posted soon. The committee did not take any formal vote or action during this discussion.

Transcript Highlights:

• Other, our budget director is going to be working with President Molander on the annual budget and biennial
• budget process.
• Seems like there would be some concern on actual budgeting.
• And we're over, we're under budget right now.
• It was on the budget side.

Keywords: 908, all

Transcript Highlights:

• <01:14:08.400> presentation agency overview and budget presentation agency overview and budget
• proposed in the governor's 2627 budget proposed in the governor's 2627 budget similar<01:21:36.560
• > op similar to our current budget op similar to our current budget op operating<01:21:38.440>
• budget<01:21:39.159> these<01:21:39.360> Appropriations operating budget these
• <01:25:41.119> that design right how do we allocate that design right how do we allocate that

Keywords: 1183, house

Transcript Highlights:

• Okay. chair rest allocations. Uh chair.
• I mean, we learned state budget.
• I'm I'm generalizing some budget gaps.
• in<03:03:38.960> 2023, allocated that were allocated in 2023, allocated that were allocated
• <03:20:54.479> to that to be an ongoing um allocation to that to be an ongoing um allocation

Keywords: 1187, senate, all

Transcript Highlights:

• And so are we recognizing that $50 million in this budget?
• The authority for our budget was found in...
• So our budget was combined with DMR and along with PFA.
• We understand that because I always tell people about budgeting.
• So it just becomes part of their fixed asset allocation.

Keywords: 908, all

Summary: The committee received a compliance and status update on Industrial Commission programs and the Bank of North Dakota. Staff reviewed appropriations and spending for several Industrial Commission funds and grant programs, including lignite research, oil and gas research, clean sustainable energy, grid resiliency, salt cavern analysis, and the new NDSU research and technology park grant. Members discussed the timing of reimbursements, uncommitted balances, and the structure of the pipeline capacity and enhanced oil recovery funding. The Industrial Commission also reported on its administrative budget, grant management system project, and recent leadership transitions across several agencies. Karen Tyler of the Industrial Commission described active grant rounds and the status of major projects. She said the Clean Sustainable Energy Authority approved three projects in its sixth round, with remaining uncommitted cash and loan capacity still available, though no new funding was appropriated this session. She also said the Oil and Gas Research Council approved six enhanced oil recovery projects and expects additional funding after a federal Department of Energy award replaces one project’s state funding. For grid resiliency grants, she said some projects have been funded, some commitments were returned or reallocated, and some DOE funds remain pending. She also updated the committee on the salt cavern business case study, which replaced an earlier larger development proposal, and on the NDSU research park grant, where the nonmatching portion was paid and the matching portion has moved slowly because the match must be in cash. Ron Ness then gave an extended presentation on enhanced oil recovery and North Dakota oil and gas trends. He said production remains steady, but future growth depends on infrastructure, especially gas takeaway and projects like the Bakken East pipeline. He argued that enhanced oil recovery using CO2, natural gas, surfactants, and other methods could extend Bakken production for decades, but that the state needs more CO2 supply, better storage, and updated tax and regulatory incentives. Members asked about lateral lengths, CO2 availability, pipeline impacts, and the role of the Strategic Petroleum Reserve, and Ness emphasized that the projects are intended to share technical learning across operators and attract follow-on investment. The Bank of North Dakota then presented its compliance report and strategic update. President Don Morgan said the bank’s mission remains to support North Dakota agriculture, commerce, and industry while cooperating with the state’s financial sector. He reviewed the bank’s main business lines: participation lending with community institutions, student loans, disaster lending, mission-based programs, and a new fintech-focused effort. Morgan said deposits are flattening, so the bank is managing balance sheet growth carefully, while still reporting improved net income and strong efficiency. He also introduced Rough Rider Coin as a bank-to-bank payment rail, not a public cryptocurrency, intended to speed and modernize payments within North Dakota’s banking and credit union system. Committee members asked about student loan eligibility, disaster program use, and how credit lines and liquidity would be affected if deposits shrink.

Transcript Highlights:

• In the budget, there were not additional projects left for, and she, There were not additional projects
• It is a budget and implementation. Okay. Thank you very much.
• It is a budget implementation bill, Senate Bill 466.
• So this is tied to that other decision unit 75 in one of the budget accounts, I think, 3645.
• This is a budget implementation bill that was submitted in order to implement the budget as approved

Bills: AB102, AB108, AB117, AB213, AB220, AB221, AB251, AB259, AB331, AB336, AB375, AB379, AB409, AB475, AB476, AB550, AB575, AB594, SB466

Keywords: emergency medical services, ambulance, licensing, health district, paramedic, training requirements, outdoor education, recreation, grant program, environment, funding, special license plates, vehicle registration, custom plates, state revenue, transportation, public works, prevailing wage, custom fabrication, nonstandard materials

Transcript Highlights:

• A truly endless number of questions for me, both about WIA and the state budget at large.
• And so this was pretty deep in the budget. You can see Section 951, but the language...
• This was pretty deep in the budget. You can see Section 951.
• And those were made in both the 2020 and 2021 supplemental budgets.
• In the 2023–25 operating budget for $1.15 million from WIA.

Summary: The Joint Higher Education Committee met for a work session on higher education accounting practices and financial transparency. OFM Deputy Director Sarah Rupp explained how state accounting rules and higher education reporting differ, including what data is captured in AFRS today and what will move into Workday, with universities generally reporting summary-level fund data, mandatory codes, and most balance sheet and income statement activity, but not transaction-level detail or vendor payment information. Representatives from the University of Washington and Washington State University described the complexity of their own accounting systems, the many entities and business lines they must track for audits and compliance, and the need to reconcile university-level accrual accounting with state reporting requirements. The committee also heard from the Education Research and Data Center on the public four-year finance dashboard created under Senate Bill 5512; ERDC said the dashboard is based on publicly available data, is best used to examine institutions individually rather than compare them directly, and will be updated with additional metrics in 2025 and 2026. The committee then received a presentation from the Washington Student Achievement Council on the Workforce Education Investment Account (WIA). Joel Anderson reviewed WIA’s creation under House Bill 2158, its revenue sources, and its intended uses for higher education, financial aid, and workforce development. He said recent legislation significantly increased WIA revenues and that, in the 2025–27 budget, the account is being used in new ways, including to replace general fund support for University of Washington operations and to fund a larger share of the Washington College Grant and some faculty compensation costs. Anderson said roughly 98% of current WIA appropriations go to higher education, but the share used to supplant other higher education funding has grown, and he estimated about 60% to 70% of current spending still aligns with the account’s original intent. He also described a new effort to track WIA appropriations across biennia in more detail and noted the WIA Oversight Board’s role in recommending uses of the account and monitoring outcomes. No votes were taken; the committee ended by moving into executive session for staffing issues and then adjourned.

Transcript Highlights:

• Is going to increase some challenges as you go to work on a budget.
• As a business owner, I've got 20 employees and a budget to look over, and this impact is broad and large
• Does the budget seem reasonable? Does the timeline seem reasonable? Does it seem like?
• For capacity building grants, the request was ten times more than what was allocated.
• For civics grants, the request was nearly six times more than what was allocated.

Transcript Highlights:

• Do you get a general fund allocation, or is it just from dues from members and fines? >> Yes.
• Yes, it is um allocated by the >> Yes.
• <00:37:57.200> and 74 million um was it all allocated and 74 million um was it all allocated
• strategic manner as budget allows. strategic manner as budget allows.
• I'm with the Division of Budgets and Financial Management at KDE. Meredith Brewer.

Keywords: 958, all

Summary: The committee first approved the October 13 minutes and then moved through a large agenda of contracts and agreements, including a deferred list from the September 2025 agenda. Members questioned several agencies about the purpose, cost, and duration of the items before them, with repeated motions to consider the contracts reviewed without objection passing by roll call. The Office of Energy Policy and Energy and Environment Cabinet presented a solar-and-battery program. Members asked about panel and battery lifespan, warranty coverage, who would pay for replacement or disposal, and whether the program made sense in Kentucky. The agency said panels and batteries generally last 25 to 30 years, warranties would cover replacement during the warranty period, EPA guidance would govern disposal, and federal funds would cover program expenses. Officials estimated the program could reduce participating homeowners’ utility bills by about 70%, with a minimum required savings of 20%. The Department for Community Based Services explained a new vendor contract for SSI initial and redetermination work for children in out-of-home care, saying the work is federally required, the department lacks in-house capacity, and the contract replaced a prior vendor after an RFP protest and rebid. The Department of Highways described umbrella traffic engineering contracts for smaller highway safety projects, noting they are used for spot improvements and are nearing full utilization. The Kentucky Historical Society said its contract funded a temporary exhibit tied to 250th anniversary programming, and the Board of Medical Licensure discussed an amended audit contract, explaining that annual audits were adopted after an auditor’s recommendation and that the board is funded by state allocation plus fees and fines. The Department for Natural Resources/Abandoned Mine Lands gave the most extensive presentation, describing a $5 million engineering services contract as part of a much larger workload increase driven by Bipartisan Infrastructure Law funding, with projects prioritized by citizen complaints and safety impacts; the agency said the contract supports design and oversight for community-scale mine reclamation projects that exceed in-house capacity.

Transcript Highlights:

• Looking at our current year budget, it was another record budget.
• And so we already had a record budget in our five-year plan.
• You've made investments in our salary and benefits budget the last few years.
• But I do want to maybe ask your comment that I see the budget.
• The state of Florida has been allocated $70 million to fully fund this program.

Summary: The committee heard introductory remarks from Chair LaMarca and members, then received presentations on electric utility planning, transportation infrastructure, and broadband deployment. Public Service Commission staff explained how Florida’s utilities plan for reliability and cost through 10-year site plans, demand forecasting, and economic dispatch. The presentation emphasized Florida’s residential-heavy load, growing EV demand, expanding solar and battery storage, continued reliance on natural gas combined-cycle plants, and the role of nuclear power. Members asked about energy efficiency, rates, renewable options beyond solar, cybersecurity, grid resilience, data centers, and small modular nuclear reactors; the witness said efficiency programs are reviewed every five years, utilities must balance reliability and affordability, and large new loads like data centers generally must pay for their own infrastructure needs. Department of Transportation Secretary Jared Perdue described FDOT’s five-year work program, decentralized district structure, and funding mix, noting that the agency is predominantly state-funded and prioritizes maintenance and preservation before expansion. He highlighted record investment levels, major congestion-relief projects, toll-road revenues, seaport and airport partnerships, spaceport investments, workforce and equipment needs, and emerging technology such as advanced air mobility. Members asked about project timing, MPO planning, rail and ferry funding, airport governance, winter storm preparedness, and flooding/sea-level rise; Perdue said faster delivery depends on resources, local governments lead transit operations with FDOT as a capital partner, and coastal and drainage projects are designed around storm surge and resiliency. The Office of Broadband reported on six grant programs supporting infrastructure, community facilities, digital connectivity, and future digital capacity and broadband expansion. Director Leo Garcia said the office has awarded hundreds of millions of dollars across most counties, leveraged significant private investment, and focused heavily on rural areas. He noted that broadband efforts are intended to support telehealth, education, workforce development, and economic growth, and said the state has reduced the number of unserved locations from more than 400,000 to a projected 170,000 after current awards are completed. He also said the office needs additional budget authority for the upcoming digital capacity program and that the larger federal/state broadband deployment program will be used to reach remaining unserved and underserved areas.

Transcript Highlights:

• Okay, let’s go to the water quality budget. Thank you. Okay, let’s go to the water quality budget.
• So if you’re here to make comments on the budget, you can do that. No amendments on the bill.
• comments about the budget. 168.
• comments about the budget.
• Budget and opening it up to the public for anybody wishing to testify or make comments about the budget

Summary: The Appropriations Committee on Agriculture, Environment, and General Government heard and reported favorably several bills. CS/SB 800 would increase penalties for repeated unlicensed engineering practice and create an engineering student loan assistance program funded by licensure fees and fines; Senator Sharif asked about restitution for victims, and the sponsor said the bill does not create a reimbursement mechanism. CS/SB 576 would create a local government cybersecurity protection program administered by Florida Digital Service, with state purchasing support, grant access, and data-sharing requirements; local government and cybersecurity groups waived in support. CS/SB 1078 would establish transition procedures between gubernatorial administrations, including liaisons, briefing books, office space, IT access, and access to agency records under a signed confidentiality agreement. The committee also reported favorably CS/SB 314 on payment stablecoin issuers, CS/SB 530 updating lottery operations and security rules, CS/SB 1614 giving JAC/LAC-related audit findings more enforcement effect for local governments seeking state funds, SB 990 authorizing protective cell captive insurance companies, SB 1588 beginning implementation of the prior gold-and-silver legal tender law, CS/SB 1440 adding cybersecurity-related exemptions and reporting provisions for financial institutions, and CS/SB 1568 creating a stablecoin pilot program for DFS fee payments. Several bills had support testimony from state agencies and industry groups, and some included technical or guardrail amendments that were adopted without objection. The committee also received a budget overview highlighting major funding items, including more than $350 million for Florida Forever, $738 million for Everglades restoration, more than $500 million for water quality projects outside the Everglades, $60 million for Farmers Feeding Florida, and more than $250 million for citrus recovery. Members asked questions about school lunch funding, state park improvements, land acquisition, water quality funding, gaming enforcement offices, and staffing for PERC. After the bills and budget discussion, members recorded a few affirmative votes on selected tabs, and the committee adjourned.

Transcript Highlights:

• We also have allocated fire funds up there for the fire that occurred east of the highway.
• We also have allocated fire funds up there for the fire that occurred east of the highway.
• <00:34:24.399> um would take to this budget session. um would take to this budget session.
• million in the budget for this particular<00:35:50.800> purpose.
• So, the allocations are usually about $120 an acre.

Keywords: 916, all

Transcript Highlights:

• The Kentucky Community and Technical College System reported several allocations from its $90 million
• My name is Janice Thomas, deputy state budget director. Glad to be here with you today.
• Janice Thomas, deputy state budget Janice Thomas, deputy state budget director.<00:03:50.720>
• Thomas, please continue with the four pool allocations requiring no action. >> Thank you.
• pool for sewer county allocation pool for sewer projects. projects. projects.

Keywords: 00:01 Call to Order and Roll Call 01:49 Approval of Minutes 02:06 Information Items 03:48 Project Rpt from Finance and Admin Cabinet 14:38 Lease Rpt from Finance and Admin Cabinet 18:50 OFM – Ky Infrastructure Authority 26:40 OFM – Cabinet for Economic Development 31:50 Office of Financial Management 40:40 Remaining 2025 Meeting Dates 41:25 Adjournment, 958, all

Summary: The meeting opened with prayer and a quorum call, then the committee approved the prior meeting minutes. Staff reported several informational items, including University of Kentucky medical and research equipment purchases, school district debt issues, leasehold improvements, and Kentucky Community and Technical College System bond allocations. The committee then approved a line-item appropriation increase of $350,000 in federal funds for the Department of Fish and Wildlife Resources’ Cumberland Forest Conservation Program, along with two Department of Military Affairs projects: the Ashland Readiness Center window replacement and the MATES HVAC replacement at Fort Knox. It also approved four larger maintenance-pool projects without further action: HVAC and smoke evacuation work at the Kentucky State Penitentiary, HVAC and hot water tank replacements at Oakwood, a Green Bank energy-savings performance project across state facilities, and roof replacement at Lake Barkley Lodge. Members asked about the prison project, the roof procurement process, and whether minority-owned firms receive special bidding preference; staff said capital projects are awarded through open low-bid procurement with qualification and warranty requirements, and that minority participation is preferred but not a bidding criterion. Two lease modifications were approved for Franklin County agencies: an expansion and renovation for the Auditor of Public Accounts and a downsizing and renovation for the Kentucky Workers Compensation Funding Commission. The committee also approved Kentucky Infrastructure Authority items, including a Monticello sewer loan, several Cleaner Water Program grants and reallocations, and a House Bill 1 water grant that required no action. Members questioned engineering costs and were told the KIA board reviews technical details and anomalies before approval. Finally, the committee approved six economic development grants: one EDF grant for V Simple in Jefferson County and five KPDI EDF grants for projects in Breckinridge, Erlanger, Todd, and Washington counties. The last action item was approval of Western Kentucky University’s up-to-$10 million general receipts revenue bond issue for athletic facilities. An informational Kentucky Housing Corporation multifamily bond item prompted concern from members about rising per-unit costs for affordable housing, and they requested further explanation from the housing corporation at a future meeting.

Transcript Highlights:

• If you go to page 22, I mentioned our asset allocation.
• There, on the left, we're showing our actual allocation.
• How is that allocated between the two funds? Can people choose the higher fund?
• On page 22, I was looking at the actual allocation versus the target.
• What accounts for the difference between the actual allocation and the target?