state funding
November 26, 2024
November Revenue Forecast Down Slightly for Current and 2025-27 Biennia, Further Straining State Budget
The Washington State Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on Wednesday, November 20, 2024. Revenue projections were down slightly for the current 2023-25 biennium as well as for the upcoming 2025-27 biennium. In September, we highlighted that experts expected revenue to remain steady relative to previous projections for the current…
October 7, 2024
September Revenue Forecast Flat for Current and 2025-27 Biennia
The Washington State Economic and Revenue Forecast Council (ERFC) released its September revenue forecast on Friday, September 27, 2024. Revenue projections were relatively flat for the 2023-25 biennium as well as for the upcoming 2025-27 biennium. In June, we highlighted that experts expected revenue to fall from previous projections for the 2023-25 and 2025-27 biennia….
November 21, 2023
November Revenue Forecast Revised Upward for Current Biennium
The Washington State Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on Monday, November 20, 2023. Revenue projections were again revised upward for the current 2023-25 biennium as well as for the 2025-27 biennium. In September, we highlighted that experts expected revenue to increase over recent projections for the 2023-25 and 2025-27…
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 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…
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…
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….
August 14, 2019
June Revenue Forecast Growth Driven by Legislative Activity
The Economic and Revenue Forecast Council (ERFC) released their June revenue forecast. The projected Near General Fund-State (GF-S) revenue forecast for the 2017-19 biennium decreased by $47 million. Projected revenue collections for the 2019-21 biennium increased by $432 million. This change was primarily driven by legislative activity in the 2019 session. The report projects similar growth…
May 6, 2019
Legislature Passes 2019-21 Biennial Operating and Capital Budgets
On Sunday, April 28, leadership in the legislature reached a compromise on the state’s 2019-21 biennial operating and capital budgets. The Governor is expected to approve these budgets, but has line-item veto power. As part of the compromise budget package, the legislature passed HB 2158, which creates a dedicated source of funding for higher education…
April 4, 2019
House and Senate Proposed 2019-21 Biennial Operating and Capital Budgets
Last week, leadership in the House and Senate released their 2019-21 state biennial operating and capital budget proposals. The House Appropriations committee released their initial operating and capital budget proposals on March 25. The Senate Ways & Means committee released their capital budget proposal on March 27 and their operating budget proposal on March 29….
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