BOISE, Idaho — Idaho's annual budget for the fiscal year 2021 sits around $4 billion and the state received $1.25 billion in federal aid back in April as part of the CARES Act with Dec. 30 as the deadline to spend the funds.
Over the last eight months, a committee put together by Governor Brad Little has worked to get that money out to several different areas of need throughout the Gem State.
With a week left to spend the funding while the coronavirus pandemic continues, Idaho may soon be able to continue spending the remaining $40 million.
"A lot of those funds have already been out into Idaho doing good things. Helping a lot of folks, businesses, individuals those kinds of things," Idaho Representative Rick Youngblood said (R-Nampa).
Rep. Youngblood is a member of the state's Coronavirus Financial Advisory Committee as well as a co-chair of the Joint Finance-Appropriations Committee. He said of the $1.25 billion Idaho received in CARES funds, about $40 million remains and the money already allocated was done so carefully.
"Those dollars when they came to Idaho had federal guidelines that we had to follow or we stood the chance of having to reimburse the funds if we were spending them correctly. So, we've watched that very, very carefully," he explained.
Every penny has been tracked and the record is available to the public. Funds will go towards local governments, rental assistance, small businesses, and paychecks for Idahoans in need.
"We just had to follow the guidelines and do the best that we could on meeting the needs that were out there," he said. "You're not going to be able to tackle every need unfortunately but that was a good amount of funds that came to Idaho and a lot, a lot of good was done with those funds in regards to the virus."
When states received those funds, they did so with the understanding that they had until December 30 to spend the money.
This week, however, Congress signaled they will extend that deadline by a year as a part of the massive 5,000 plus page omnibus appropriations bill.
Currently, the deal is in limbo as President Trump and Congress continue to work through some details, but it is believed the extension will be a part of a signed bill.
So it appears Idaho won't have to spend the remaining $40 million over the next week, but CFAC is reviewing a final proposal Wednesday evening on where that money will be allocated to.
"The needs are great, so I don't know it will be a challenge spending the balance of those funds," Youngblood said.
When a new federal coronavirus aid package does pass in Washington D.C., states are expecting to receive some new funds.
Youngblood said that because the state legislature is set to be in session soon, the assignment of those funds will be done by the legislature and not the Coronavirus Financial Advisory Committee.
"Those will go through the joint finance and appropriations committee and we will review those dollars and make budget bills to disperse those dollars that in session then have to be approved by the house and senate," he said.
Despite a tough year, Idaho is currently sitting on a large surplus heading into 2021. Federal aid is believed to have played a part in helping to create that. Some lawmakers told KTVB that they are cautiously optimistic about the immediate economic future for Idaho when looking at the state budget.
"With holdbacks, the reversions, and everything we are actually sitting at about $602 million," Youngblood said. "In my eight years sitting on JFAC that is the largest number I have ever seen."
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