Forecast of state revenues decreased
At its quarterly meeting this afternoon, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts decrease the amount of revenue expected over the current and next bienniums combined by a total of $269.5 million. Budget reports from legislative fiscal committees typically roll up four accounts: the general […]
November 19 , 2024 - Kriss Sjoblom
Report on October state tax collections: revenues were $66 million greater than the forecasted amount
On Friday (November 15) the state’s Economic and Revenue Forecast Council (ERFC) issued its monthly report on general fund revenue collections. The report is available here. Revenues for the most recent month were $66.0 million greater than the forecasted amount. However, this “positive variance” was wholly due to transfers of unclaimed property to the general […]
September 30 , 2024 - Kriss Sjoblom
Forecast of state revenues increased slightly
At its quarterly meeting last Friday, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts increase the amount of revenue expected over the current and next bienniums combined by a total of $29.9 million. Budget reports from legislative fiscal committees typically roll up four accounts: the general […]
August 15 , 2024 - Kriss Sjoblom
Report on July state tax collections: revenues for the most recent month were $33.1 million short of the forecasted amount
Yesterday (August 14) the state’s Economic and Revenue Forecast Council (ERFC) issued its monthly report on general fund revenue collections. This report covers payments received between July 11 and August 10 for the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest […]
June 26 , 2024 - Kriss Sjoblom
Forecast of state revenues decreased
At its quarterly meeting this afternoon, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts decrease the amount of revenue expected over the current and next bienniums combined by a total of $665.7 million. Budget reports from legislative fiscal committees typically roll up four accounts: the general […]
June 12 , 2024 - Kriss Sjoblom
Updated estimates of CCA compliance costs
The Department of Ecology today reported the results of its second regular auction of Cap-and-Invest Program allowances for 2024, which was held on June 5th (link). On June 5th, Ecology offered for sale 5,260,000 of its own Vintage 2024 allowances and 542,333 Vintage 2024 allowances that had been consigned for sale by private parties. Separately, […]
May 15 , 2024 - Kriss Sjoblom
April report on state tax collections: revenues for the most recent month were $99.1 million short of the forecasted amount
Yesterday (May 14) the state’s Economic and Revenue Forecast Council (ERFC) issued its monthly report on general fund revenue collections. This report covers payments received between April 11 and May 10 for the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest […]
March 15 , 2024 - Kriss Sjoblom
Updated estimates of CCA compliance costs
On Wednesday the department of ecology reported the results of its first regular auction of Cap-and-Invest Program allowances for 2024, which was held on March 6 (link). The settlement price for current (2024) vintage allowances was just $25.76. This is down significantly from the prices paid at last year’s auctions, which averaged $55.12 per metric […]
March 06 , 2024 - Kriss Sjoblom
Did Initiative 2117 reduce the bids that the state received in today’s cap-and-invest auction?
Between 10 AM and 1 PM today (March 6), the Department of Ecology held its first 2024 auction of greenhouse gas emission allowances. Results of this auction will be published next Wednesday (March 13). The futures market for allowances indicates that the settlement price for today’s auction will be quite a bit lower than the […]
February 14 , 2024 - Kriss Sjoblom
A modest increase to the forecast of state revenues
At its quarterly meeting this morning, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts increase the amount available to budget writers over the current and next bienniums combined by a total of $337 million. Budget reports from legislative fiscal committees typically roll up four accounts: the […]