Joint Fiscal Committee - Montpelier, VT

Joint Fiscal Committee

Legislative Financial Oversight

The Joint Fiscal Committee (JFC) is a statutory committee of the Vermont General Assembly, headquartered at the Joint Fiscal Office (JFO) at 1 Baldwin Street. Established to provide continuity in financial oversight when the legislature is out of session, the committee is composed of members from both the House and Senate, including the chairs of the Appropriations and Finance/Ways and Means committees. Its primary role is to ensure the fiscal stability of the state through rigorous monitoring of the state's budget and expenditures.

Key Functions and Authority

The committee holds significant statutory powers vital to Vermont's governance:

• Grant Acceptance: The JFC must review and approve the acceptance of federal grants, gifts, and loans when the legislature is not in session, ensuring that external funding aligns with state priorities.
• Budgetary Review: It carries out a continuing review of the state's fiscal operations, including revenue collections and budget adjustments.
• Staff Oversight: The committee governs the Joint Fiscal Office, a non-partisan staff agency created in 1973 that provides financial analysis and research to all legislators.
• Policy Execution: It addresses urgent fiscal matters and approves limited service positions required between legislative sessions.

Location and Access

The committee operates out of 1 Baldwin Street, a historic building located directly adjacent to the Vermont State House. While the building serves as the workspace for the fiscal staff, committee meetings are public and often broadcast online. Visitors wishing to attend hearings or access public records regarding state finances should check the legislative calendar for scheduled meeting times.