Video & Transcript Research : 'financial statement'

Page 90 of 500
NV
Transcript Highlights:
  • I'll assign that floor statement to Assembly Member Anderson.
  • I'll assign that floor statement to Assembly Member Cole.
  • I'll assign that floor statement to Assembly Member Yurek.
  • I'll assign that floor statement to Assembly Member Eurek.
  • I will assign that floor statement to Assembly Member Hardy.
Bills: AB52, AB76, AB163, AB388, AB483
AR
Transcript Highlights:
  • I don't have the exact statement.
  • I don't have the exact statement.
  • That was the statement I was making. At a grade-point level that allows them to pass that test.
  • Goodwill's mission statement is changing lives through education, training, and employment.
  • The Our mission statement is changing lives through education, training, and employment.
Summary: The House and Senate Education Committee first approved minutes from February 2 and 3, then heard an interim study proposal on Arkansas adult education and the Excel Center model, presented by Goodwill Industries of Arkansas and the University of Notre Dame’s Lab for Economic Opportunities. Witnesses argued that about 300,000 Arkansas adults lack a high school diploma or GED and described the Excel Center as a diploma-granting public charter option for adults 19 and older, with wraparound supports such as child care, transportation, tutoring, life coaching, and career services. They said the Arkansas campuses are not state-funded, highlighted growth in enrollment and graduation outcomes, and cited research showing improved employment, earnings, and reduced criminal justice involvement for graduates. Committee members discussed the role of Goodwill’s nonprofit mission, the need for multiple adult education pathways, and the relationship between adult education challenges and broader state efforts such as LEARNS and ACCESS. The committee then debated the interim study proposal procedure, including whether questions should have been taken before the vote. The motion to adopt the ISP passed, and members noted that the study would broadly examine adult education, GED testing, high school diplomas, charter schools, in-person adult education, and funding allocation. Several members asked for follow-up information on current adult education funding, the availability of Excel Centers, and the criminal justice study results. After that, staff from the Bureau of Legislative Research gave a detailed adequacy funding overview for Arkansas K-12 education. They reviewed national funding principles and then explained Arkansas’s revenue streams and distribution system, including general revenue, the Educational Excellence Trust Fund, the Educational Adequacy Fund, local property-tax revenues, and facilities partnership funding. They also walked through the state’s foundation formula, categorical aid, supplemental aid, and additional funding, including the per-student matrix amount of $7,771 for 2025 and how funds are allocated to districts and charters. Members asked about student support staff, special education high-cost occurrences, ALE funding, teacher salary equalization, and the Excel Center’s treatment in funding totals; staff said some of those questions would be addressed in a later spending presentation. The meeting ended after the committee was told the department was present mainly to answer questions and no further business remained.
MN

Minnesota 2025 1st Special Session

House Energy Finance and Policy Committee 2/13/25

Energy Finance and Policy

Transcript Highlights:
  • <00:37:08.640> rather an environmental impact statement rather an environmental impact statement
  • We do not support this bill in its current form without environmental and financial guardrails.
  • taxpayers should not carry the financial taxpayers should not carry the financial load<00:44:50.359
  • <01:04:39.599> E's and environmental impact statements E's and environmental impact statements
  • <01:29:33.760> rather environmental impact statement rather environmental impact statement
Keywords: 1183, house
ND

North Dakota 2025-2026 Regular Session

Senate Floor Session Apr 15th, 2025 at 01:00 pm

North Dakota Senate Floor Meeting

Transcript Highlights:
  • I'm going to start with the statement of purpose.
  • And I'm going to start with the statement of purpose.
  • So this one, and the next one, again, is looking at the financial planning.
  • It still allows them to get financially stable.
  • On the statement of purpose, you'll notice it was $33,000.
Keywords: 908, all
Summary: The Senate met with a quorum present and handled a mix of conference committee appointments, appropriations bills, policy bills, and House amendments. Early in the session, the chamber appointed conference committees for SB 2399 and for House-amended SBs 2213 and 2354, and also named conference committees for HB 103, HB 1308, and HB 1169. The Senate then took up several appropriations measures, including HB 1612, which creates the North Dakota Center for Aerospace Medicine at UND; the Senate adopted an amendment shifting the funding to a one-time $250,000 Community Health Trust Fund appropriation with a required $250,000 match from other sources, and the bill passed 39-7. HB 1193, the “Back the Blue” grant, was amended to make the funding one-time and focus on officer retention, then passed 41-5. HB 1329, a government spending database proposal for school districts, was amended into a legislative study and passed 42-4. HB 1020, the water budget, received extensive amendments reducing and reallocating funding across major water projects, adding studies and oversight changes, and passed 45-0 with the emergency clause. HB 1581, a tribal tourism grant, also passed 40-6. The Senate rejected HB 1330, which would have authorized divestment from direct investments in Chinese companies; after debate over the prudent investor rule, trade impacts, and whether the bill singled out one nation in law, it failed 20-26. HB 1534, limiting property valuation increases, and HB 1266, adjusting the disabled veterans property tax credit, both failed unanimously or nearly so after committee recommendations against them. HB 1566, which would have created a regulatory framework for a product discussed as kratom, was amended on the floor to convert it into a study and then passed 31-15. The chamber also passed HB 2241 on charter schools after a House amendment changed the funding formula to the statewide average from the prior year, and HB 2022, the indigent legal counsel budget, after House changes added funding flexibility, offset lost fee revenue, and included a study on a public defender office. The Senate concurred in several House amendments and then passed a number of Senate bills. SB 2375, allowing joint negotiations between dental providers and insurers under Attorney General oversight, passed 44-2. SB 2251, clarifying that open records requests during state audits should be referred to the audited agency, passed 46-0. SB 2159, related to nuclear energy research, passed 43-3 after House amendments required Industrial Commission approval and consultation with the radioactive waste advisory council. SB 2155, changing gratis antelope license rules, passed 30-16 after debate over landowner rights and tag distribution. SB 251, setting fees and an audit for the Private Investigative and Security Board, passed 44-2. SB 2280, the prior authorization health insurance bill, passed 43-3 with a House-added study and consumer protections. SB 2023, the Racing Commission budget, passed 41-5 after a House change made internship funding one-time. SB 2232, changing prenatal substance exposure reporting requirements and related toxicology rules, passed 44-2. SB 2241, authorizing public charter schools, passed 39-7. The session ended while the Senate was still processing SB 2022’s final passage vote, but the bill had already cleared concurrence on House amendments.
HI

Hawaii 2025 Regular Session

JHA Public Hearing - Tue Feb 25, 2025 @ 2:00 PM HST

Judiciary & Hawaiian Affairs

Transcript Highlights:
  • We do have concerns with the draft, as in our statement.
  • <00:50:55.079> laws confidentiality and financial laws confidentiality and financial laws
  • Thank you. is due to a lack of Financial Resources is due to a lack of Financial Resources first<01:02
  • that statement that statement okay<01:03:27.440> thank<01:03:27.640> you okay thank
  • <02:14:55.960> asset one relating to digital financial asset one relating to digital financial
Keywords: 910, house, all
Summary: The committee first heard House Bill 302, which would repeal the requirement that a provider-patient relationship for medical cannabis certification be established in person first. The Department of Health said it supported the House Draft 2 version as a way to expand patient access, and several testifiers from the medical cannabis community and dispensary industry supported the bill, especially for patients on outer islands or those unable to travel. One witness asked that earlier language removed in committee be restored to further improve access. Representative Shimizu asked whether follow-up in-person visits would still occur, and DOH responded that this varies by provider, with some continuing in-person care and others moving to telehealth for chronic conditions. The committee then took up House Bill 712, relating to the federal 340B drug pricing program and contract pharmacies. The Office of Consumer Protection and the Attorney General’s office both said they supported the bill’s purpose but wanted it clarified and possibly moved into a standalone chapter rather than chapter 481B. Supporters, including Hawaii Pacific Health and the Queen’s Health Systems, said the bill is needed to protect safety-net funding and access to discounted drugs, citing large financial benefits from 340B and losses caused by manufacturer restrictions on contract pharmacies. PhRMA opposed the bill, arguing the issue is not access to discounts but accountability and transparency in how contract pharmacies distribute benefits, and said it was willing to discuss amendments. Members asked follow-up questions about whether there was data showing misuse; PhRMA said it did not have numbers, while hospital witnesses said the program is federally audited and used appropriately in Hawaii. Finally, the committee heard House Bill 1482, HD1, which would tighten hemp and controlled-substance definitions to exclude Schedule I cannabinoids from manufactured hemp products and clarify the treatment of artificially derived cannabis. The Department of Health supported the measure, saying it adds clarity to existing prohibitions. Kūre Hawaii and other supporters said it would close loopholes involving Delta-8 and similar products. An individual testifier urged stronger language to also cover compounds such as HHC, THCA, THCP, and THCO. In response to questions about enforcement against mislabeled hemp products, DOH explained that THC percentages are relative to product weight, that some products can remain under the hemp threshold while still containing significant THC, and that hemp flower is already prohibited from direct retail sale, though enforcement can be complicated and involves both administrative and criminal authorities.
TX

Texas 89th Regular

Public Health Apr 21st, 2025

Public Health

Transcript Highlights:
  • on that statement and We needed that bill to clarify some things in my district.
  • of the health care entity and any affiliate, including audited financial statements, cost report. annual
  • I have more financial strength. I charge more for the same thing.
  • This places an unpredictable and, in some cases, significant financial risk. financial burden on their
  • Also, the financial burdens caused by the implementation of this bill.
MN

Minnesota 2025 1st Special Session

House Human Services Finance and Policy Committee 3/13/25

Human Services Finance and Policy

Transcript Highlights:
  • All right, closing statements? Chair Schomacker, thank you.
  • All right, closing statements? Chair Schomacker, thank you.
  • All right, closing statements? Chair Schomacker, thank you.
  • questions all right closing statements questions all right closing statements chair chair chair
  • In my opening statements, I gave a very simplistic example of scheduling a doctor's appointment.
LA

Louisiana 2026 Regular Session

Commerce Apr 22nd, 2026

Commerce

Transcript Highlights:
  • If the notice, the price increase notice, if that notice was included on the monthly statement, would
  • But I guess how do we reconcile that with the bill and the statement coming out every 30 days?
  • With the bill and the statement coming out every 30 days, here's, I guess, the issue, and maybe it's
  • When that statement comes in, if somebody pays the $110 from a $100, that's offer and acceptance, then
  • Gallagher, help me understand one of your statements that you felt that this bill was going to put you
Summary: The committee first heard HB 1195, which updates Louisiana State Athletic Commission rules for contests and exhibitions, increases certain fines, and changes student athlete agent registration fees and terms. Members adopted technical amendments and one amendment tied to a separate Attorney General/NIL bill. After questions about criminal penalties and whether prison athletic events were covered, the bill was reported favorably as amended. The committee then took up HB 798, which would require broadband and cable providers to give clearer written notice of prices, fees, contract terms, and price increases, and to explain cancellation rights. After a technical amendment package and a conceptual amendment clarifying the bill’s scope and severability, the author said the goal was transparency rather than price regulation. Charter Communications and other industry groups opposed the bill as duplicative of federal notice rules and costly; committee members raised concerns about interstate commerce, private rights of action, and whether notice should be on the bill instead of separate. The bill was reported favorably as amended. HB 1140 followed, targeting robocalls and spoofed calls by requiring telecommunications providers to use authentication and mitigation tools, respond to the Attorney General, and stop illegal spoofing, with penalties for violations. Members discussed federal preemption, the 30-day cure period, and whether the bill should include a private right of action; no opposition was recorded, and the bill was reported favorably as amended. HB 1222, creating a grocery initiative grant and support program through LED to address food deserts, also advanced after a committee amendment changed mandatory language to permissive language to avoid a fiscal note/appropriations issue; it was reported favorably as amended. The committee then considered HB 471 on surveillance-based price discrimination, but the author said the bill would be deferred while stakeholders continue working on it. Members adopted a large amendment package narrowing the bill’s focus and adding exemptions for loyalty programs, insurers, and certain discounts, then deferred the bill. HB 947 was also deferred at the author’s request. Finally, HB 1186, a major overhaul of the Louisiana Uniform Construction Code Commission and related inspection/licensing rules, was introduced and a large technical amendment package was presented, but the transcript cuts off before final action on that bill.
TX

Texas 89th Regular

Public Education Mar 6th, 2025

Public Education

Transcript Highlights:
  • The actuarial statement from LBB, it says we would need another $3.1 billion.
  • As y'all have heard, many Texas school districts are struggling financially. for many years.
  • I don't want to belabor the point, this will be my last statement on this.
  • That's a fair statement. I appreciate that because this has surfaced today.
  • This time the funding crisis is happening at a time of financial strife.
Bills: HB2, HB2
MN

Minnesota 2025-2026 Regular Session

House Higher Education Finance and Policy Committee 2/26/26

Higher Education Finance and Policy

Transcript Highlights:
  • > institutions Financial support for our institutions Financial support for our institutions in
  • approving more drops without financial approving more drops without financial penalty. penalty.
  • It is about whether financial aid.
  • :22.400> of<01:04:22.480> the While the financial ramifications of the While the financial
  • uh you know, standpoint and statements uh you know, standpoint and statements that<01:23:44.520>
Keywords: 1183, house
Summary: The committee adopted the minutes from its February 24, 2026 meeting after a motion by Vice Chair Coulter. The hearing then focused on the impact of federal immigration enforcement, referred to throughout as Operation Metro Surge, on Minnesota college campuses. The chair said the purpose was to document alleged abuses, campus fear, and racial discrimination, and to hear from testifiers about effects on students, faculty, and staff. Representative Novotny briefly objected to the framing, saying the committee should be finding facts rather than making a predetermined presentation, and the chair responded that members should remain respectful and that questions would be held until after all presenters testified. Augsburg University President Paul Pribbenow described what he called relentless and unprecedented disruption, including student stops and interrogations, family separations, and an ICE operation on campus in which armed masked agents allegedly detained a student without a warrant and pointed weapons at students and staff. He said the campus received bomb threats afterward, increased virtual learning options, and saw spikes in student support needs, housing assistance, and leaves of absence. Jenna Chernega of the Inter Faculty Organization said faculty across Minnesota State universities reported widespread student and colleague stress, increased workload, disappearing students, and a need for clearer sensitive-location protections and academic freedom guidance. Mark Grant of Minnesota State College Faculty said community conditions inevitably affect classrooms, that campuses have not yet had an ICE incident but are bracing for one, and that faculty want to support students and may need financial help if enrollment declines. Jennifer Irwin of AFSCME said fear from ICE activity extends beyond campus boundaries and is affecting attendance, work, and daily life for staff and students; she cited a member detained in St. Paul while trying to prove legal status. Student testifiers Brendan Frazier of Concordia University, St. Paul, Jonathan Fitzgerald of Minnesota State Mankato, Sudi Adow of Lead MN, and Will Luther of the University of Minnesota Twin Cities described panic, reduced attendance, food insecurity, disrupted classes, and fear of leaving home or commuting to campus. They urged stronger student privacy protections, support for international and immigrant students, emergency aid, and policies to keep campuses safe. No further committee action or votes were taken after the minutes approval.
AR

Arkansas 2026 1st Special Session

LEGISLATIVE JOINT AUDITING Jan 9th, 2026

LEGISLATIVE JOINT AUDITING

Transcript Highlights:
  • In other business, a request for a study of fiscal impact statements was withdrawn.
  • Also, the Office of Financial Aid would have been packaging any scholarships, issuing them to students
  • Also, scholarship awarding is now centralized in the Office of Financial Aid. Thank you.
  • Also, scholarship awarding is now centralized in the Office of Financial Aid. Thank you.
  • No further question. ...relies in the Office of Financial Aid. Thank you.
Keywords: 1204, all
NM

New Mexico 2025 Regular Session

Senate - Rules Jan 27th, 2025

Senate Rules

Transcript Highlights:
  • Chairman McQueen mentioned in his opening statement.
  • Statement that the legacy fund that you all passed and funded last year is providing almost $3 million
  • The corporation also provides annual audited financial statements.
  • The reports and the financial statements are available on their website, which is nmsbic.org.
  • A lot of these community-level financial organizations are economic development organizations, regional
NH

New Hampshire 2025 Regular Session

Senate Executive Departments and Administration (03/19/2025)

Executive Departments and Administration

Transcript Highlights:
  • I do understand the exclusionary statement, but I think having the state language in statute already
  • I hear your very last statement is that you are preparing for these...
  • <01:29:31.760> consequences real Financial consequences real Financial consequences unfortunately
  • And finally, you know, financial stress and uncertainty. How do people feel?
  • And finally, you know, financial stress and uncertainty. How do people feel?
Keywords: 1191, senate, all
NJ

New Jersey 2026-2027 Regular Session

Assembly Appropriations Jun 8th, 2026

Transcript Highlights:
  • Assembly Concurrent Resolution 151 and Senate Concurrent Resolution 135 approve the fiscal year 2027 financial
  • The fire, what it does, it puts a financial cost on these facilities, and there's probably 50 to 200
  • In that statement, no, there is not. No.
  • I'm just going to read a statement before we close, and then that'll be the end of our session today.
  • be prepared on the following bills. ...and public safety impact statement be prepared on the following
Keywords: 1146, all
TX

Texas 89th Regular

Ways & Means Mar 31st, 2025

Ways & Means

Transcript Highlights:
  • Okay, just some clarifying statements. So we do have a statewide bill, HB3094.
  • These often result in financial setbacks for these local governments.
  • Consistency and equity to the franchise tax treatment of key financial transactions.
  • Is that saying the right statement? Sure, for the franchise tax, yes.
  • So this is kind of like a projected view of what the financial impact could be. Thank you.
MN

Minnesota 2025-2026 Regular Session

House Commerce Finance and Policy Committee 2/25/26

Commerce Finance and Policy

Transcript Highlights:
  • resources were redirected to financial resources were redirected to financial crimes<00:15:02.399
  • > that<00:20:00.880> were then uh financial crimes that were then uh financial crimes that
  • . financial crimes and quite some time. financial crimes and fraud<00:21:20.880> over<00:21:21.039
  • working on a human trafficking financial working on a human trafficking financial fraud<00:46:11.520
  • ,<01:44:52.400> but statement, but statement, but >> Well,<01:44:54.320> the<01:44
Keywords: 1183, house
NH

New Hampshire 2025 Regular Session

House Finance Division III (02/19/2025)

Transcript Highlights:
  • Nathan White, Chief Financial Officer.
  • This is the daily financial management.
  • <00:11:37.680> management this is the daily financial management this is the daily financial
  • <00:15:49.040> we agreement we look at their financials we agreement we look at their financials
  • our financial Compliance Unit completes<01:48:17.639> financial<01:48:18.119> analysis<
Keywords: 1189, house, all
Summary: House Finance Division III convened a work session on the DHHS budget, with the chair noting there would be no votes and that the committee would spend the day hearing from the commissioner’s office. Nathan White, DHHS Chief Financial Officer, opened with the Division of Finance/Office of Business Operations, explaining that the unit supports the department through daily financial management, AP/AR, audit work, expense projections, transfers, and procurement functions such as contracts, amendments, RFPs/RFAs, and grants management. He also described the division’s revenue and reporting work, including federal draws, CMS-64 reporting, and the public assistance cost allocation plan, and said the department had centralized rate-setting work and a small team handling Medicaid rate analysis and nursing facility rebase work. Members asked about vacancies, turnover, and budget changes. White said the division had 18 positions unfunded in the governor’s budget, reducing personal services from about $10.8 million to $9.9 million, and estimated the division’s vacancy rate at about 11 percent, below the department average. He said turnover was relatively low, with one retirement at the manager level and higher turnover mainly at lower AP-level positions. He also explained that some budget lines reflected reallocations rather than new spending, including fringe benefits centralized elsewhere and an EBT card contract moved into this unit because the staff member overseeing it works in Finance. When asked about a rent/lease increase, he said it was due to higher copier leasing costs under a statewide DAS contract. White highlighted several management and technology improvements. He said a business intelligence tool procured in 2022, using Salesforce and Excel-based data, helped DHHS better track federal revenue and maintenance-of-effort spending, reducing FY24 General Fund lapse by about 70 percent and federal/other revenue lapse by 88 percent compared with FY23; he warned that the tool is not funded in the current budget. He also described Lean Six Sigma efforts in the contracts team, training for vendors and nonprofits on procurement and indirect cost rules, and a Finance Academy to standardize policies and procedures. On the contracts side, he said the department uses Smartsheet for project management and DocuSign for electronic signatures, which cut contract execution time dramatically, but noted DocuSign is also not funded in the governor’s budget. The session ended as the committee prepared to move on to the Employee Assistance Program presentation.
KY
Transcript Highlights:
  • > to<00:15:38.480> serve remain financially viable to serve remain financially viable to
  • Uh is that kind of financially viable.
  • <00:27:16.880> to important statement for people to important statement for people to understand
  • They have medical financial eligibility.
  • <01:11:04.560> and documents and doctor statements and documents and doctor statements and
Keywords: 958, all
Summary: The Medicaid Oversight Advisory Board’s fourth meeting focused primarily on a presentation from University of Kentucky and University of Louisville health leaders about the state university directed payment program. Mark Birdwhistle and Ken Marshall described the program as a long-running, value-based Medicaid arrangement that began in 2019, uses university-provided matching funds rather than provider taxes, and ties a portion of payments to quality outcomes. They said the program has improved measures such as tobacco cessation, diabetes control, depression screening, and cancer screening, while supporting access to specialty care, medical education, and workforce training. They also emphasized that Kentucky’s model is nationally notable and has helped improve health rankings and generate cost savings. A major topic was the federal reconciliation bill signed July 4, which the presenters said will reduce directed payments by 10% annually for 10 years beginning in 2028. UL Health estimated a first-year loss of about $75 million and a cumulative loss of about $600 million over the decade; UK estimated about $100 million in the first year, for a combined first-year impact of roughly $175 million. Both speakers warned the cuts could affect access to care, training capacity, and the sustainability of Kentucky’s value-based model, though they expressed hope that congressional action could alter or delay the changes. They also noted that 340B drug pricing changes could further strain already thin operating margins, but did not provide exact figures during the meeting. Committee members responded positively to the program’s reported outcomes and the institutions’ role in Kentucky health care. Senator Berg praised the quality of care and shared a personal example of being advised to stay at UofL for breast cancer treatment. Representative Moer highlighted Kentucky’s strong cancer-control score and asked for more explanation of the value-based payment structure; the presenters said the system is built around ongoing measurement, accountability, and collaboration with the Cabinet for Health and Family Services. No votes or formal actions were taken beyond approving the amended August 27 minutes by voice vote.
LA

Louisiana 2026 Regular Session

Insurance Apr 23rd, 2026

Insurance

Transcript Highlights:
  • So I can make a definitive statement.
  • So that, in my mind, is also personal financial information.
  • It's not specific to telling you that you can obtain personal financial information.
  • It's not specific to telling you that you can obtain personal financial information.
  • It's not specific to telling you that you can obtain personal financial information.
Summary: The House Insurance Committee met on April 23 with a quorum present and first deferred HB 1142. The committee then heard HB 1187, which would direct any excess Louisiana Citizens emergency assessment funds, after related debt is paid, toward the Louisiana Fortified Homes Program or future Citizens debt. Representative Sawyer and Commissioner Tim Temple said the bill would likely redirect about $50 million in one-time surplus funds and would help expand a popular roof-mitigation program that has already awarded more than 4,600 fortified roofs. The bill drew support from several witnesses and was reported as amended without objection. Next, HB 1210, dealing with insurance claim disputes and a pre-suit review process for Louisiana Citizens claims, was discussed. Representative Dana Henry said he was voluntarily deferring the bill and instead pursuing a study resolution after hearing concerns from members and stakeholders. Department and Citizens officials said the proposal was modeled on Florida’s process and could help resolve disputes faster and cheaper, but the bill was ultimately voluntarily deferred after testimony and some opposition cards were noted. The committee then took up HB 1199, which requires coverage for genetic testing and treatment related to SCN2A-associated disorders. Representative Jordan and the Diedon family gave emotional testimony about their daughter Emily’s diagnosis and the importance of timely genetic testing. The bill was amended to require that testing be ordered by a provider and deemed medically necessary by the health plan, with discussion about whether a neurologist should be involved; members said that issue could be refined later. HB 1199 was reported as amended. Finally, the committee considered HB 880, the Louisiana Artificial Intelligence Insurance Fairness Act, which would regulate AI use in underwriting, rating, and claims. After a lengthy discussion about state insurance regulation, McCarran-Ferguson, and concerns that the bill could jeopardize federal broadband funding, Representative Jordan voluntarily deferred HB 880, and HB 920 was also deferred. The committee then heard HB 1221, which would limit the policy data collected for the Louisiana Fortified Program Fund. Former Representative Bowler argued the bill was needed to protect policyholder privacy, while the Department of Insurance and Commissioner Temple said the data is needed for surplus-lines premium tax audits, fraud detection, and consumer assistance after disasters. The discussion continued with questions about what data would be visible and how it would be used, but the transcript ends before a final action on HB 1221 is shown.
FL

Florida 2025 Regular Session

February 4, 2025 - 03:00 PM

Transcript Highlights:
  • statements and accounting system as a state, and then from that system, we produce our financial statements
  • We are in progress with replacing the financial management system.
  • They all come together for the financial reporting for the state.
  • In Florida PALM, that is a financial management system.
  • Under the Office of Financial Regulation, Representative Fabricio.
Summary: The State Administration Budget Subcommittee heard presentations from the Department of Financial Services on the My Safe Florida Home program, the My Safe Florida Condominium Pilot, and the Florida PALM financial system replacement project. For My Safe Florida Home, Stephen Fielder explained the wind-mitigation grant program, including its inspection-first process, two-to-one matching grants for most homeowners, low-income exemptions from the match, and eligible improvements such as roofs, clips/straps, water barriers, and opening protection. He reported roughly 109,000 initial inspections, nearly 59,000 grants approved, 31,000 final inspections, 25,000 reimbursements, and about $240 million paid out through the end of 2024. Members asked about premium savings, contractor pricing, fraud, owner-builder eligibility, reimbursement timing, and whether the program should have a dedicated funding source; Fielder said the program is currently closed, more than 40,000 people have signed up for updates, and the office has seen some price-gouging and impersonation issues but no major fraud trend. The committee also discussed the new prioritization rules that took effect July 1, 2024, which direct grant awards by age and income. Fielder said the program used a survey of existing applicants to implement the new priority groups and that the first group was over age 60 and low-income. Members raised questions about how premium reductions are measured, whether insurance company changes or rising insured values affect the data, and whether the program can track long-term outcomes after reimbursement. Fielder said the office reports raw premium changes based on declarations pages, knows the insurer for participants, and has validated results with multiple insurers, but does not track homeowners after they leave the program or enforce continued insurance coverage. For the My Safe Florida Condo Pilot, Fielder said the program is modeled on the home program but uses association-level applications, a maximum grant of $175,000 per association, and a similar two-to-one match. He said the application window opened briefly in November and was closed quickly because available funding could be exhausted and the department is prohibited from creating a waiting list. He identified several needed statutory changes, including better distinguishing condos from single-family homes, adjusting roof requirements for flat concrete roofs, and revisiting the unanimous unit-owner vote requirement, which he said has been a major obstacle. Chair Lopez noted the pilot is intended to be a learning process and thanked DFS staff for identifying implementation issues. The final presentation covered Florida PALM, the state’s effort to replace the 40-year-old FLAIR accounting system with a PeopleSoft-based financial management system. Fielder and PALM Director Jimmy Cox said the project began in 2014, the state contracted with Accenture in 2018, cash management went live in 2021, and the project was paused in 2022 for legislative review and remediation. They said the system is expected to go live in 2026, possibly in July rather than January, and that the project has spent about $225 million to date, with a current-year budget of about $60.9 million and a projected next-year request of about $64 million. Members asked about cybersecurity, cloud hosting, project scope, and whether the system is unique to Florida; staff said the system is not Florida-specific, access is credentialed through agency identity management, and the cloud host location is confidential. After the presentations, Chair Lopez assigned members to work with specific agencies on budget review meetings, asked them to discuss agency structure, priorities, staffing, waste reduction, and other budget issues, and set a deadline to report findings in the first week of regular session. The meeting then adjourned without objection.