Video & Transcript Research : 'financial statement'
Page 95 of 500
NH
New Hampshire 2025 Regular Session
House Ways and Means (01/27/2025)
Transcript Highlights:
- statements, which is referred to as the annual comprehensive financial report.
- our financial analysis our financial<03:09:56.200>
regulation <03:09:56.800>unit <03:09 - :57.160>
looks <03:09:57.439>to financial regulation unit looks to financial regulation - financially healthy.
- financial financial trouble<03:36:14.199>
the <03:36:14.359>niic <03:36:15.040>and<
Summary:
The meeting featured presentations from the Department of Administrative Services and the Treasury Department on state revenue reporting and unclaimed property. State Comptroller Dana Call explained DAS’s role in compiling statewide revenue reports, including the annual revenue plan set through the budget process and the monthly revenue focus reports that track cash receipts. She noted that unrestricted general fund revenue is about $2 billion annually, while miscellaneous other revenue is a much smaller and less predictable category, averaging roughly $30 million to $32 million a year. She also described two more material internal revenue lines: statewide indirect cost recoveries and post-retirement benefit recoveries, which are billed to agencies and often tied to federal reimbursement rules.
Members asked about the interest line in the revenue charts and about how the figures were presented, and Call clarified that the totals were in millions and that the interest item would be explained by the Treasurer. She also explained that the indirect cost and post-retirement recoveries are internal cost allocations that flow back into the unrestricted revenue pool and are reflected in agency budgets as interagency costs.
Treasurer Monica Meissner then outlined Treasury Department functions, including bank deposits, statewide disbursements, banking relationships, investments, debt management, compliance, the FONA College Savings Program, the ABLE Plan, scholarship programs, and the abandoned property program. In discussing unclaimed property, she said holders report property after a five-year dormancy period, the state uses automated systems and outreach to locate owners, and claim activity has increased. In fiscal year 2024, the state returned about $12.2 million to citizens through roughly 12,000 claims; over the last 10 years, about $72.6 million has been returned. She also said the state escheated $19.9 million to the general fund and $1.8 million to counties last year, and explained that securities-related proceeds are harder to estimate because they depend on market conditions. No votes or formal actions were taken.
TX
Transcript Highlights:
- And number two, the financial aid packages of the students, depending if, again, if they receive financial
- Last year, we distributed nearly $25 million in financial aid to our students.
- I want to just make a quick comment on your previous statement of accuracy.
- They're going to do so through their financial support of a brand-new facility for this endeavor.
- I serve as the chief financial officer and senior vice president for operations there.
Keywords:
special prosecutor, state law, criminal justice, accountability, law enforcement, stormwater management, counties, regulation, environment, water quality
Summary:
The Committee on Higher Education met to hear several bills and first corrected the minutes from its April 1, 2025 meeting to reflect that a committee substitute for HB 271 had been adopted before the bill was reported favorably. The committee then heard HB 3326, which would help Texas higher education employees, especially adjunct faculty, qualify for federal Public Service Loan Forgiveness by counting classroom hours toward full-time status, requiring institutions to verify employment within 60 days, and requiring annual notice to eligible employees. No witnesses testified against the bill, and it was left pending.
Members then heard HB 2853, authorizing UTEP to phase in a student union fee increase to fund demolition and reconstruction of its aging student union. Representative Perez and UTEP student and university witnesses said the current facility is outdated and insufficient for a campus of more than 25,000 students, while some members raised concerns about the size of the fee increase and its impact on low-income students. UTEP representatives said most students receive aid, the fee would be phased in over time, and the project was student-approved; the bill was left pending. The committee also heard HB 4066, a one-line bill to abolish the Texas Research Incentive Program after the state cleared its backlog of matching obligations, with the author saying the program was no longer needed in light of newer research funding approaches. The bill was left pending.
The committee spent substantial time on HB 125, which would create the Tarleton State University College of Osteopathic Medicine. Supporters, including Tarleton leadership, the founding dean, a rural hospital CEO, and a feasibility consultant, argued the school would address severe rural physician shortages by recruiting Texas and rural students, training them in rural settings, and developing new residency slots rather than competing for existing ones. Members asked about affordability, residency placement, and whether the school would draw students from rural Texas; Tarleton said it would seek to keep tuition and debt low, had already raised private donations, and would request $25 million in state support over the biennium. The bill was left pending.
Finally, the committee heard HB 42, which would increase the annual Higher Education Fund appropriation and adjust its allocation methodology. The chair and university witnesses described rising deferred maintenance, inflation, cybersecurity needs, and enrollment growth at HEAF-eligible institutions, with witnesses from Texas Tech, Sam Houston State, and UNT saying the additional funding would help address aging facilities and technology needs. After testimony, the committee left HB 42 pending and recessed.
HI
Transcript Highlights:
- <01:06:30.559>
benefit <01:06:31.440>although <01:06:31.920>financial financial - benefit although financial financial benefit although financial benefit<01:06:33.839>
would <01 - <01:19:33.199>
compensation opinions on the financial compensation opinions on the financial - impact statement. environmental impact statement<01:30:40.719>
from <01:30:40.960>a <01 - Some of them are not even financially solvent as it is.
Bills:
HB1527, HB1823, HB2490, HB2223, HB2325, HB2104, HB2593, HB2592, HB1927, HB1553, HB1964, HB1918, HB1990
Keywords:
gambling prohibition, Aloha Stadium, University of Hawaii, amateur athletics, state lands, coastal resilience, Maui, Mantokuji Bay, coastal erosion, environmental protection, Native Hawaiian, spiritual sites, historic preservation, economic development, burial sites, Department of Hawaiian Home Lands, cultural history, archaeology, Hawaii Revised Statutes, civil service
Summary:
The committee first heard HB 1527 relating to gambling. The chair outlined hearing rules, including a two-minute limit and a warning that bills not heard would die. Testimony was overwhelmingly in support from a prosecutor, Honolulu Police Department, and Stop Predatory Gambling, all arguing that casinos and sports betting increase crime, sex trafficking, harassment of athletes, and broader social harm. No opposition testimony was presented, and the committee moved on without questions or action taken on the bill.
The committee then heard HB 1823 relating to coastal zone management and HB 2490 relating to coastal resilience. For HB 1823, DLNR, the Office of Planning, and Maui County testified, with Maui County supporting the measure and its proposed amendments. For HB 2490, DLNR expressed concern about exempting a proposed Mokuji Bay pilot project from permits and regulation before a long-term plan is finalized, while the County of Maui, the Mokuji Soto Zen Mission, and the Office of Planning supported the bill as a coastal resilience pilot. The mission described severe erosion, sea-level rise impacts, and years of unsuccessful efforts to stabilize the shoreline; its consultant said the study is leaning toward nature-based and hybrid solutions. In questioning, members and DLNR discussed whether the bill should say the project “shall” or “may” be exempt, and the chair indicated the language would be adjusted to preserve DLNR discretion and to change the lead agency reference to OPSD. No vote was taken in the transcript.
Finally, the committee took up HB 2223 relating to historic preservation reviews. SHPD said it stood on its written comments, while OPSD and DHHL supported the bill. DHHL argued the measure would streamline reviews, improve transparency, and help address long wait times for its projects, saying it could alleviate burden on SHPD and better serve beneficiaries. Representative Shimizu questioned whether the bill would create redundancy and expand government rather than strengthen SHPD, noting a separate staffing bill already exists. SHPD responded that DHHL is uniquely subject to 6E review and that the bill would not waive federal or state historic review requirements; the discussion also touched on possible federal-style grant support and the existing memorandum of agreement between SHPD and DHHL. The transcript ends during questioning, with no final committee action shown.
NH
New Hampshire 2025 Regular Session
Public Higher Education Study Committee (05/23/2025)
Transcript Highlights:
- financially financially sustainable<00:10:26.320>
system <00:10:26.800>for <00:10:27.040 - discount rate, the amount of financial discount rate, the amount of financial aid<00:25:55.760><
- for financial insolvency.
- evaluate their financial stability. evaluate their financial stability.
- <00:51:13.599>
Keen watch for financial insolveny. Keen watch for financial insolveny.
Summary:
The committee heard updates from the chancellors of the state university system and the community college system on ongoing restructuring, collaboration, and enrollment trends. The university system said its office move to the NHTI campus is ahead of schedule and should save students about $250,000 a year while creating revenue for the community college system. Both systems described continued work on transfer pathways, direct-admit outreach, shared advising, and broader efforts to shrink footprints, reduce costs, and improve operational efficiency in response to declining enrollment and demographic pressure.
A major topic was a possible federal change to Pell Grant eligibility that would require students to enroll in at least 7.5 credits. The chancellors said most community college students are part-time because of work and family responsibilities, and that the change could affect roughly 2,000 current Pell recipients and make it harder for students to afford or sustain enrollment. Members also discussed how the state’s governor’s scholarship statute largely benefits full-time students, suggesting possible future statutory changes. The chancellors explained how credits typically work, noting most courses are three or four credits and that students would likely need to add an entire course to meet the proposed threshold.
The committee also discussed the broader higher education landscape, including declining high school cohorts, competition among New England institutions, and the need to right-size capacity. One member raised concerns about the health of regional campuses such as Plymouth and Keene; the chancellors said incoming enrollment is down at UNH and Plymouth and holding at Keene, attributing the trend to demographics rather than one campus drawing students away from another. They emphasized the importance of community colleges, adult learners, and short-term workforce programs as part of the state’s future education mix.
Finally, the committee touched on the value of the university system’s research enterprise. The chancellor said about $250 million a year flows into the university system in federal research grants, with about $9.5 million currently under stop-work orders from federal agencies. She said the immediate concern is not DEI-related but federal cuts and possible caps on indirect cost recovery. Members noted that the R1 research designation supports business partnerships, student opportunities, and economic development projects such as West Edge in Durham.
CA
California 2025-2026 Regular Session
Assembly Appropriations Committee Jul 9th, 2025
Transcript Highlights:
- Testimony on any such bill will be limited to a statement of name, organization, if any, in position
- I get those processes, but in 21st-century financial services, check clearance methodologies and stop
- payments—I mean, this goes on in the financial world and the consumer world every day.
- I get those processes, but in 21st century financial services, check clearance methodologies, and stop
- I mean, this goes on in financial world and the consumer world every day.
Summary:
The Assembly Appropriations Committee met on July 9, 2025, with a quorum present and opened by taking up its consent and suspense calendars. Several Senate bills were moved on consent, including SB 255, 361, 385, 387, 428, 602, 648, 652, and 693, along with SB 78 on a separate due-pass motion. The suspense calendar was then deemed approved without further discussion.
The committee next heard AB 1533, a claims bill authorizing a General Fund appropriation of $672 million to pay state claims, including $600 to the Franchise Tax Board and $72 million to the DMV for stale claims. Assemblymember Wicks presented the bill as one of the annual claims measures, and the Department of Finance and Department of General Services both supported it. Assemblymember Dixon raised concerns about the age of claims, the cost and efficiency of the process, and whether the state could improve how it verifies and pays claims more quickly.
After brief public comment was invited, the committee held a roll call vote on AB 1533 and the bill was moved out of committee. The meeting then adjourned after a late-arriving member was added to the roll call for the consent calendar and AB 1533.
CA
California 2025-2026 Regular Session
Senate Revenue and Taxation Committee May 6th, 2026
Revenue and Taxation
Transcript Highlights:
- Any members of the committee wish to make statements or questions?
- The financial case is just as strong.
- Recent federal legislation recognizes such financial hardships... 2.8%.
- But obviously this comes oftentimes at a devastating financial cost.
- Do you have a prepared statement? Yes. Okay, please proceed.
CA
California 2025-2026 Regular Session
Senate Labor, Public Employment and Retirement Committee Jun 17th, 2026
Labor, Public Employment and Retirement
Transcript Highlights:
- School districts across California are facing significant financial pressures.
- Your two minutes is up; please wrap your statement now.
- Any statements or comments?
- The opening statement states it all. The bill simply requires a 45-day written notice.
- You know, based on you and I, I think we're both equally shocked by those statements.
CA
California 2025-2026 Regular Session
Assembly Floor Session May 4th, 2026
California House Floor Meeting
Transcript Highlights:
- The financial services groups that remain opposed to ...required by law.
- The financial services groups that remain opposed to the bill in print, I can convey that my office,
- I'm proud to present AB 1647, which codifies existing California case law to protect statements made
- I'm sharing this with you because these are celebrities, people who have the financial means.
- So imagine what happens to those who do not have the financial means.
Summary:
The Assembly convened after a quorum call, prayer, and Pledge of Allegiance, then approved a procedural motion by a 41-17 roll call to re-refer AB 2690 and AB 1863 to Appropriations and to allow guests for the Latino Spirit Awards ceremony. House Resolution 92, recognizing Cinco de Mayo Week, was adopted after supportive remarks from members of several caucuses, and the chamber then held the 2026 Latino Spirit Awards ceremony honoring 11 individuals and organizations in higher education, human rights, philanthropy, health and science, advocacy, business, environmental justice, journalism and media, culinary arts, and a legacy award for Los Tigres del Norte. After the ceremony, the Assembly resumed business with guest introductions and moved through the daily file, passing or retaining a number of bills and resolutions.
Among the measures taken up, the Assembly passed AB 1657 on domestic violence restraining order procedures (64-0), AB 2042 on civil procedure and service of process (66-0), AB 1660 on probate and public guardians (45-10), AB 1917 on criminal procedure and reinstatement of dismissed charges (43-15), AB 2148 clarifying that public school employees are human beings in the context of AI (69-0), AB 1647 protecting juvenile statements at transfer hearings (63-0), AB 1555 expanding community college access in Siskiyou County (66-0), AB 1608 on High-Speed Rail Inspector General oversight and reporting (45-18), AB 1803 requiring anti-hate speech training in workplace harassment prevention (50-9), AB 2128 protecting tenants in subsidized housing from certain federal work requirements and time limits (44-16), AB 2576 as a land-use cleanup bill protecting historic resources (61-0), AB 2601 allowing concurrent review for certain housing projects, and AB 2764 on extended foster care eligibility (60-0). Several items were passed and retained on file, and AB 2601 was interrupted by a call of the house before later business continued.
The chamber also adopted ACR 159 on indigent defense after adding 59 coauthors, then heard guest introductions from chief public defenders from multiple counties. ACR 179, designating Wildland Urban Interface Preparedness and Resilience Day, was adopted with 65 coauthors after remarks on wildfire risk and forest management. Later, ACR 183 establishing Black Health Equity Advocacy Week was presented with extensive testimony from members of multiple caucuses emphasizing racial health disparities, maternal mortality, life expectancy gaps, and the need for systemic change; the debate continued beyond the excerpt provided. Throughout the session, members repeatedly used guest introductions to recognize visiting groups and individuals, including Delta Sigma Theta Sorority members, UAW President Shawn Fain, California Women in Agriculture, and others.
US
Transcript Highlights:
- Kimmett before his opening statement. Thank you, Mr. Chairman. Thank you.
- To your introductory statement.
- Well I mean it's a it's a statement by someone I'm not sure who.
- Is that a fair statement?
- I don't recall that specific statement. You don't remember what he said?
Keywords:
Commerce, International Trade, Tax Policy, Nominees, Inflation, Middle-class, Trade Practices, Economic Concerns
Summary:
The committee convened to discuss various bills and nominees, including the critical nominations of William Kimmett for Undersecretary of Commerce for International Trade and Ken Keyes for Assistant Secretary for Tax Policy at the Treasury Department. Discussions highlighted the nominees' roles in managing critical trade and tax policies amidst rising economic concerns, particularly focusing on inflation and its impact on American families. Members expressed both support and skepticism, emphasizing the significance of fostering fair trade practices and ensuring tax policies that benefit the middle-class amidst claims of an agenda favoring affluent individuals and corporations.
FL
Florida 2026 Regular Session
Joint Legislative Auditing Committee Feb 10th, 2025
Transcript Highlights:
- and annual financial reports to the Auditor General and Department of Financial Services, respectively
- In the last three months, we brought on the financial director.
- Three months ago, we were working with no financial director at all.
- The committee is required by law to contract for an annual financial audit of the department.
- The Auditor General will be responsible for the financial statements, internal control, and compliance
Summary:
The Joint Legislative Auditing Committee heard the Auditor General’s operational audit of the City of Mexico Beach, which identified nine findings. The audit cited significant turnover in key management positions, late filing of required annual financial reports, weaknesses in competitive procurement and purchase approval controls, a duplicate payment on stormwater repairs that was later largely refunded, issues with the city accountant’s contract and IRS classification, IT access control problems, and the lack of fraud-reporting policies. Committee members asked about corrective action, and the Auditor General said a follow-up audit is required by statute within 18 months, with no enforcement authority beyond reporting progress back to the committee.
Mayor Rich Wolf and city staff responded that the city had experienced major turnover and was rebuilding its finance and administrative team. He said the city had hired a city administrator, financial director, city clerk, and accounting firm, and was working to create policies, procedures, forms, and review processes to address the findings. Members discussed whether the turnover and hurricane-related workload contributed to the problems, and city officials said some of the larger purchases were storm-related and tied to FEMA or emergency work.
The committee then received a staff update on enforcement for local governments that have not filed required financial reports. Staff said 400 entities had been notified, and as of the meeting two counties, 33 municipalities, and 48 special districts still owed reports or audits. The committee adopted a motion to proceed under section 11.42, Florida Statutes, including possible withholding of state funds for municipalities and enforcement actions for special districts, with authority for the chair and vice chair to delay action if new information warranted it.
Finally, the committee unanimously directed the Auditor General and OPPAGA to conduct the required 2024-2025 audit of the Department of the Lottery, with the Auditor General handling financial, internal control, and compliance issues and OPPAGA developing operational recommendations. Members also briefly discussed whether the committee had reviewed transportation surtaxes and expressed interest in improving the timeliness and transparency of the audit and enforcement process before adjourning.
CA
California 2025-2026 Regular Session
Assembly Appropriations Committee May 7th, 2025
Transcript Highlights:
- Testimony on any such bill will be limited to a statement of name, organization, if any, and position
- Testimony on any such bill will be limited to a statement of name, organization, if any, and position
- Second, we'd like to talk about the financial component, the fines.
- And I just want to echo Soma's statements that this bill, like many bills who have gone through this
- And I just want to echo Soma's statements that this bill, like many bills who have gone through this
Summary:
The Assembly Appropriations Committee met on May 7, 2025, considering a large number of bills, with several measures heard in detail before the committee moved through consent and suspense items. Early in the hearing, AB 876 by Assemblymember Flora was heard on CRNA scope of practice and anesthesia access. Supporters said it would clarify that certified registered nurse anesthetists may provide anesthesia services independently, while opponents from physician and medical groups argued that anesthesiologists and CRNAs are not interchangeable and that physician-led care is needed for patient safety. The bill was ultimately voted out, with a later vote change recorded for Mr. Tangipa from not voting to aye.
The committee also heard AB 379, a major human trafficking and child exploitation bill, which would expand penalties for solicitation of a minor, create a misdemeanor for loitering with intent to purchase commercial sex, increase fines on businesses that fail to post trafficking notices or knowingly allow trafficking, create a survivor support grant program, and establish a vertical prosecution grant program. The bill drew strong support from the author and some members who emphasized tougher enforcement and victim services, but also significant opposition from sex worker and civil liberties advocates who argued the bill would worsen criminalization, disproportionately harm Black and Brown communities, and fail to address housing and other root causes. After extensive discussion, the committee voted the bill out, with one member later changing from not voting to aye.
Other bills heard included AB 435 on child passenger safety, which would adopt a five-step test and update booster-seat and front-seat rules; AB 1415, which would give the Office of Health Care Affordability more access to information from health systems and private equity-related entities; AB 539, the Timely Care Act, which would extend the duration of approved prior authorizations for treatment; AB 1466, relating to groundwater adjudication and sustainability disputes; AB 127, which would tie the cap-and-trade price ceiling to the social cost of carbon; and AB 672, which would require public employers to notify PERB of certain court actions and allow intervention to protect labor rights. The committee also approved a large consent calendar and then deemed the suspense calendar approved, sending many bills onward. The hearing concluded with several bills reported out, some on call, and the committee adjourned.
AL
Transcript Highlights:
- The statement I was >> The statement I was >> they<00:50:34.160>
move <00:50:34.400 - <00:59:54.640>
side >> something on the financial side >> something on the financial - financial implications? financial implications?
- 01:42:52.239>
statements <01:42:52.960>just <01:42:53.199>generalize financial statements - just generalize financial statements just generalize more<01:42:54.159>
training <01:42:54.560
KY
Kentucky 2025 Regular Session
Interim Joint Committee on Natural Resources and Energy (7-24-25) - Reupload
Transcript Highlights:
- Yeah, more of a statement. Thank you, Chairman Gouge. Just, uh, it's good to see Rick Baker here.
- So 87% agreeing with that statement, with 51% strongly agreeing.
- So 87% agreeing<00:47:04.320>
with <00:47:04.440>that <00:47:04.720>statement <00 - that statement with 51% strongly<00:47:07.040>
agreeing. - Kentucky, 86% agreed with that statement Kentucky, 86% agreed with that statement with<00:47:32.480
Keywords:
Meeting Start 00:00:00
Attendance Roll Call 00:00:26
Approval of Minutes 00:02:27
LIHEAP Presentation and Public Hearing 00:02:42
Conservation Opportunities in Kentucky 00:29:52, 958, all
Summary:
The committee first took up a public hearing and presentation on the Low Income Home Energy Assistance Program (LIHEAP). Shannon Hall of the Department for Community Based Services and Rick Baker of Community Action Kentucky explained that LIHEAP is a 100% federally funded block grant that helps low-income households pay heating and cooling bills, avoid utility disconnects, and support weatherization. They outlined the program’s components, eligibility limits, seasonal application periods, and recent participation figures, including tens of thousands of households served through the summer cooling, fall subsidy, winter crisis, and spring subsidy components. They also described weatherization priorities, the partnership with Kentucky Housing Corporation, and the role of Community Action agencies in administering the program statewide.
Members asked about Assurance 16, the balance between need and available funding, summer cooling assistance, weatherization measurement, renter versus homeowner participation, and whether federal changes could affect LIHEAP. Hall and Baker said Assurance 16 supports energy-burden reduction through education, case management, and conservation strategies; that funding has generally been sufficient in recent years but crisis funds have sometimes been exhausted quickly in the past; and that summer assistance is primarily electric utility support. They also said weatherization uses return-on-investment testing and that Kentucky still has a large backlog of homes needing service. On federal funding, they said the recently passed federal bill did not directly cut LIHEAP, but future appropriations could still affect it, and any major reduction could leave a gap the state might need to consider filling. The committee approved the minutes and later approved the LIHEAP finding of fact; no members of the public signed up to testify.
After concluding LIHEAP, the committee heard a presentation from Heather Jeff of The Nature Conservancy on conservation opportunities in Kentucky. She described the organization’s voluntary land-protection work and highlighted the Cumberland Forest project, a conservation easement on about 55,000 acres in Bell, Knox, and Leslie counties supported in part by a $3.875 million state appropriation. She also reported on mine-land reforestation, elk habitat work, and the rapid allocation of a $2 million appropriation for the Kentucky Heritage Land Conservation Fund. Jeff emphasized the economic value of conservation for tourism, hunting and fishing, agriculture, forestry, bourbon, and flood protection, and said the group is finalizing a Kentucky conservation needs assessment and related feasibility research.
MN
Minnesota 2025-2026 Regular Session
House Agriculture Finance and Policy Committee 2/25/26
Agriculture Finance and Policy
Transcript Highlights:
- Uh we incorrect in that statement.
- tools provides a critical financial tools provides a critical financial safety<00:24:11.279>
- , financial adviserss, veterinarians, financial adviserss, nutritionists,<00:24:38.640>
and <00 - It's about financial guard rails.
- Um, financial get our farm started.
NM
New Mexico 2025 Regular Session
IC - Federal Funding Stabilization Subcommittee Jul 1st, 2025
Federal Funding Stabilization Subcommittee
Transcript Highlights:
- I think you all will have questions about that given the financial impact.
- There's also a downstream impact on the financial, sorry, the private market as well.
- Is that—would that be an accurate statement? Mr. Chair, Senator Trujillo, absolutely.
- For coverage and for financial assistance.
- There are, of course, financial impacts to the administrative burden.
AZ
Transcript Highlights:
- I rise to make a statement. I don't oppose... I rise to make a statement.
- You have to sign a statement of eligibility.
- The Department of Insurance and Financial Institutions came to an agreement.
- This is... ...for bonds issued without a financial advisor.
- So you're saving a lot of money by hiring a financial advisor.
AR
Transcript Highlights:
- So, I mean, I guess you're putting a lot of financial responsibility on Arkansas parents in that case
- Could you all come back and make a statement Friday?" "Sure.
- But I would like a public statement to the full council." "Thank you, Senator.
- I think that would be wise for maybe a motion or a statement in full ALC at that time."
- "Maybe a motion or a statement in full ALC at that time." "Okay, we've got two left in the queue.
MS
Transcript Highlights:
- Would that not—I mean, I'm not a chartered financial analyst.
- I just to a charter financial analyst.
- <00:16:01.279>
status financial status financial status >> and<00:16:02.240>tier - financial statements as a liability financial statements as a liability under<00:34:00.880>
governmental - >
being <01:20:45.040>conducted statements or reviews being conducted statements or reviews
Summary:
The committee heard an update from PERS Executive Director Higgins, who reported that the system has about $38 billion in assets, earned roughly 11.7% last fiscal year, and is about 57% funded. He thanked lawmakers for a newly passed $1 billion funding bill and emphasized that funding the existing system remains the top priority. Higgins also noted that the board’s actuarially recommended contribution is about 26% of payroll, while the system is currently receiving about 18.4%, and said PERS will return later in session with a few requested bills.
Higgins addressed several policy topics under discussion this session, including return-to-work rules, first responders, and Tier 5. He said return-to-work changes are possible if the law is changed and funding implications are addressed. For first responders, he said any special treatment should be done within PERS rather than by creating a separate system, with the affected group and parameters clearly defined and fully funded. He also said the new Tier 5 hybrid plan is being implemented on track for March 1 and is projected to improve the system’s long-term financial position by reducing future liabilities and helping pay down the unfunded liability.
Members then questioned Higgins about the system’s funding policy, the 30-year closed amortization period used in the ADC calculation, and whether that approach should be revisited in light of recent funding actions and changes in assumptions. Higgins said the board reviews the policy annually, that the closed amortization approach was chosen to better pay down the unfunded liability, and that the annual valuation and experience studies already incorporate recent funding changes, Tier 5, and the phased employer-rate increases. He acknowledged that a significant new infusion of funding could justify reviewing the amortization period, but cautioned against changing it too often because it could undermine progress toward paying down the unfunded liability.
WA
Washington 2025-2026 Regular Session
Citizen Commission for Performance Measurement of Tax Preferences Sep 22nd, 2025
Citizen Commission for Performance Measurement of Tax Preferences
Transcript Highlights:
- certainly has in terms of advancing homeownership, but I do agree with JLARC's analysis that the financial
- What we found in looking at the 21 Habitat affiliates and their financial data through their 990s and
- their audited financial reports... ...through their 990s and their audited financial reports over this
- statements to us.
- statements to us.
Summary:
The Citizens Commission for Performance Measurement of Tax Preferences met on September 22, 2025, confirmed a quorum, and unanimously approved the August 6, 2025 meeting minutes. The main business of the meeting was public testimony on the 2025 tax preference reviews, with Commissioner Forsyth recusing himself for the first witness, Joey Halverson of Tote Maritime Alaska, who testified in support of the tax preference for natural gas as a transportation fuel. He argued that LNG has enabled major emissions reductions, supported infrastructure at the Port of Tacoma, and should continue to receive tax preferences to encourage further clean maritime fuel adoption.
The second witness, Michelle Preston of Habitat for Humanity of Washington State, testified in support of the tax preference for low-income homeownership developers. She said the preference helps Habitat affiliates advance homeownership and sustain operations, but noted that reporting has been inconsistent across independent affiliates and that JLARC’s metrics may not fully capture the program’s benefits. Commissioners asked questions about affiliate accounting, the distinction between benefits to nonprofits versus homebuyers, and whether the reporting/renewal period should be shorter than the current seven years; Preston said the preference benefits the nonprofit developer, not the homebuyer, and suggested shorter renewal periods might improve compliance and awareness.
JLARC staff then outlined the process for the commission’s upcoming comments on the 2025 tax preference reviews. Commissioners will receive a web-based comment form, with responses due September 30, the chair will compile consolidated comments, and those materials will be distributed for the October 21, 2025 meeting. The chair noted that only voting members will complete the comment forms, though individual members may also submit minority reports. The meeting ended with a reminder that written testimony could still be submitted to JLARC and that the next commission meeting is scheduled for October 21, 2025.
KY
Kentucky 2026 Regular Session
Budget Review Subcommittee on Education. (7-1-26)
Transcript Highlights:
- statement each year saying that they're financially secure.
- <00:33:24.040>
good <00:33:24.120>statements. - <00:33:24.640>
So, financially good statements. So, financially good statements. - Um, you know, we're looking at financial health of institutions.
- So, we provide a lot of state financial aid to students as well.
Summary:
The Budget Review Subcommittee on Education met for an overview of the Council on Postsecondary Education (CPE). After approving the prior meeting minutes, staff from CPE explained that the council was reconstituted in 1997 and serves as Kentucky’s statewide coordinating body for higher education, with responsibilities including advising the General Assembly and governor, coordinating the postsecondary system, supporting budget and performance funding work, and using data to track outcomes. They described Kentucky’s governance structure, including the KCTCS governing board, independent boards at public universities, and CPE’s role in licensing private institutions and overseeing transfer, closed-school records, and tuition approval.
CPE staff emphasized statewide strategic planning and the “60 by 30” goal of having 60% of working-age Kentuckians hold a meaningful credential by 2030. They said the agency uses dashboards, KPIs, and peer comparisons to set targets for institutions and monitor enrollment, retention, and graduation. They also highlighted the Kentucky Graduate Profile, a voluntary effort to embed 10 essential workforce skills into general education and major programs, and noted ongoing work on academic program approval, performance funding, and a biennial budget request.
The presentation also focused on student support and workforce alignment initiatives. Staff described the Kentucky Advising Academy, the Commonwealth Education Continuum, and the Kentucky Student Success Collaborative, which work with K-12 partners and campuses to improve advising, transfer, wraparound supports, and career planning. They also discussed GEAR UP, the Futurity career-planning platform, and efforts to connect education pathways to workforce needs, including healthcare, veterans, and other adult learners. CPE reported that student debt at graduation has fallen to $10,168 at public institutions and that six in ten Kentucky undergraduates graduate debt free.