Senate Finance Committee finalizes FY26 budget cuts and adjourns session

April 15, 2025 | 2025 Legislature Alaska, Alaska

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Senate Finance Committee finalizes FY26 budget cuts and adjourns session

This article was created by AI using a video recording of the meeting. It summarizes the key points discussed, but for full details and context, please refer to the video of the full meeting. Link to Full Meeting

The Alaska Senate Subcommittee on the Legislature convened on April 15, 2025, at 8:34 AM, led by Chair Senator Hoffman, alongside President Stevens, Senator Olson, and Senator Stedman. The primary agenda focused on finalizing the fiscal year 2026 operating budget.

Chair Hoffman introduced staff member Pete Eklund, who presented the budget action report. Eklund reminded the committee of a prior directive from Hoffman, which instructed subcommittees to refrain from accepting any new unrestricted general fund (UGF) increments proposed by either the House or the Governor.

Eklund highlighted key reductions in the budget, including a $250,000 cut from the Senate Finance Committee's budget and a significant $1,000,000 reduction from special session funding. He noted that the committee accepted transfers that did not add UGF and rejected any new increment requests, which included funding for various operational needs such as security and lease costs.

Following Eklund's presentation, Chair Hoffman opened the floor for questions, but no inquiries were raised by the finance subcommittee members. Senator Stedman then moved to approve the final budget action report, granting legislative finance the authority to make any necessary technical adjustments.

The meeting concluded with a hopeful note from Stedman, emphasizing that the elimination of the million-dollar special session funding would lead to a more streamlined budget process. The committee's decisions will be forwarded to the conference committee for further consideration.

Converted from 04/15/2025 08:30 AM Senate LEGISLATURE meeting on April 15, 2025
Link to Full Meeting

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