Pre-Special Session Agreement

The Seattle Times reports that the Governor and the legislature have come to an agreement on a way to cut $790 million in FY2011.

Comparison of the Budget Reduction Proposals

I was glad when the House Democratic Caucus released its suggested budget reductions for FY2011 last week that they provided the exact list of cuts by program area.

Budget Reduction Ideas Galore

The House Democrats have joined Republicans in offering budget reduction options.  For your spreadsheeting pleasure, I have put their full list of reduction ideas into an Excel document, which you can access here:

HDC reduction list

Unemployment rate climbs to 9.8 percent

Here's the Bureau of Labor Statistics commissioner's statement on the latest employment situation. In a nutshell, the commissioner reports:

Budget Fun

A post at Politics Northwest this afternoon highlights the Governor's suggestion that June K-12 payments be delayed until July, as a way to save $240 million in FY2011 (more on the Governor's proposed reductions here):

Governor's Reductions

Last week, Governor Gregoire released a list of programs that have been reduced or could be reduced to close the budget shortfall for FY2011.  In addition to across-the-board cuts, fund transfers, and payment delays, the Governor's proposal would cut education, health, corrections, and other social services funding.

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One More Time: Revenue Forecast Reduced Again

The Economic and Revenue Forecast Council met yesterday and adopted revised forecasts of general fund revenues for the current (2009–11) and upcoming (2011–13) biennia. For 2009–11, the new forecast is $28,127 million, a decrease of $385 million from the September forecast. Of this decrease, $64 million is due to the passage of Initiative 1107, which rolled back legislatively imposed tax hikes on bottled water, soda pop, candy and certain food products. For 2011–13, the new forecast is $32,605 million, a decrease of $809 million from the September forecast.

Nine Steps to Budget Sustainability

Yesterday the second paper in the Thrive Washington series was released.  Nine Steps to Budget Sustainability in Washington State recommends changes to the state budget process and highlights areas requiring special attention.

The steps are:

Economic and Revenue Update

The state Economic and Revenue Forecast Council (EFRC) yesterday issued its monthly Economic and Revenue Update (available here). The November Update is the second since EFRC's September revenue forecast, and, as was the case in October, collections have come in above forecast.