Office of Planning & Budgeting

June 23, 2020

June Forecast Outlines Impact of COVID-19 Pandemic on State Revenue

The COVID-19 pandemic has drastically changed the economic outlook in Washington state. The projections detailed below demonstrate the sharp decline that the state economy has suffered in recent months, which stands in sharp contrast to the long period of growth that preceded it. In order to account for the losses discussed in the forecast below,…


May 6, 2020

Economic and Revenue Forecast Council Releases April Budget Outlook

On Thursday, April 30, the Economic and Revenue Forecast Council met to review and approve the April 2020 budget outlook. The budget outlook used the February revenue forecast and contained no major changes to revenues or appropriations for the 2019-21 biennium. During their meeting, the Council acknowledged that there will likely be changes to the…


February 28, 2020

House and Senate Proposed 2020 Supplemental Operating and Capital Budgets

Earlier this week, leadership in the House and Senate released their 2020 supplemental state budget proposals, which include technical corrections and other changes to the enacted 2019-21 biennial budgets. An OPB brief outlining these proposals is available on the OPB Briefs page. We will update the brief in the event that proposals are amended, and…


February 20, 2020

February Revenue Forecast Shows Continued Growth

The Economic and Revenue Forecast Council (ERFC) released their February revenue forecast on February 19. The projected Near General Fund-State (GF-S) revenue forecast increased by $606 million for the 2019-21 biennium and by $536 million for the 2021-23 biennium. The report projects higher than forecasted revenue compared to the November revenue forecast. Here is a quick summary…


January 7, 2020

UW Fast Facts 2020 – Now Available!

The 2020 edition of UW Fast Facts is now available. You can find it on the UW Fast Facts page and in the Quick Links bar on the right. A special thank you to OPB’s Institutional Data & Analysis team, the University Marketing & Communications team, and to our partners around the UW for their…


December 20, 2019

Governor Inslee’s Proposed 2020 Supplemental Operating and Capital Budgets

On Wednesday, Governor Jay Inslee released his proposed 2019- 21 supplemental operating and capital budgets. The budgets include corrections and technical changes to the 2019-21 biennial budgets passed in April 2019. For a detailed analysis and summary of the Governor’s proposals, or to look back at OPB’s brief on the biennial budgets, please see OPB’s…


November 22, 2019

November Revenue Forecast Shows Increased Revenue, but Slowing Growth

The Economic and Revenue Forecast Council (ERFC) released their November revenue forecast on November 20. The final tabulation of Near General Fund-State (GF-S) revenue for the 2017-19 biennium was $46.081 billion, $5 million less than estimated in September. Projected revenue collections increased by $299 million for the 2019-21 biennium and by $181 million for the 2021-23…


November 14, 2019

Income Share Agreement Update

Income Share Agreements (ISAs) have grown in popularity in recent years. They have been lauded by some as a solution to the student debt crisis, and criticized by others for further complicating the education finance market. Given the continued interest in ISAs, we have updated our 2016 brief on the topic. Here are some key…


October 23, 2019

Background on the State Revenue Forecast

The Office of Planning & Budgeting (OPB) publishes a summary of the state’s quarterly revenue forecasts. This primer provides background on revenue forecast reports, including helpful information about how to interpret and understand their contents. Who produces the report? The Washington State Economic and Revenue Forecast Council (ERFC) produces the revenue forecast, and is comprised…


September 26, 2019

September Revenue Forecast Indicates Slowing, but Continued Growth

The Economic and Revenue Forecast Council (ERFC) released their September revenue forecast. The projected Near General Fund-State (GF-S) revenue forecast for the 2017-19 biennium increased by $27 million. Projected revenue collections for the 2019-21 biennium increased by $447 million, decreased by $63 million for the 2021-23 biennium. The report projects similar growth to the June revenue forecast….


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