The 2024 supplemental operating budget proposal from the Senate Ways & Means Committee Chair would increase 2023–25 appropriations from funds subject to the outlook (NGFO) by $1.854 billion (2.7%). Revised NGFO appropriations for 2023–25 would be $71.658 billion. (That’s $108.6 million less than had been proposed by Gov. Inslee.)

The proposal would not increase revenues. Assumed legislation would reduce NGFO revenues by $4.1 million in 2023–25 and by $18.6 million in 2025–27. The two largest revenue bills assumed are SB 6303 (which would provide business and occupation tax preferences for energy storage manufacturing) and SB 6038 (which would expand the business and occupation tax exemption for child care providers).

The Senate chair’s proposal would transfer a net of $7.3 million from the NGFO to other accounts in 2023–25 (none are assumed to continue in 2025–27). It would transfer $23.4 million from the general fund–state (GFS) to the wildfire response, forest restoration, & community resilience account. Unusually, it would transfer $14.0 million from the GFS to the motor vehicle account. (Additionally, it looks like the proposal would shift more climate commitment act money to the transportation budget.) Finally, the proposal would transfer $40 million from the Washington student loan account to the education legacy trust account.

The proposal would leave an unrestricted NGFO ending balance of $2.154 billion in 2023–25 and $80 million in 2025–27. The proposal assumes passage of SB 6100, which would appropriate $21 million from the budget stabilization account (BSA, or the rainy day fund) in 2023–25 for fire suppression costs. The BSA balance at the end of 2025–27 would be $2.107 billion. The proposal would not transfer or appropriate funds from the Washington rescue plan transition account (WRPTA, the shadow reserve account created during the pandemic). Its 2025–27 ending balance would be $798 million. Total reserves would be $2.985 billion at the end of 2025–27, which would be 8.1% of revenues and other resources.