Budget

Gov. Inslee’s operating budget proposal would leave total reserves of $2.186 billion at the end of the outlook period

Today the Economic and Revenue Forecast Council (ERFC) adopted the official outlook for funds subject to the outlook (NGFO) based on Gov. Inslee’s supplemental operating budget proposal. The ERFC estimates that, at the end of the outlook period, the governor’s budget would leave an unrestricted NGFO ending balance of $76 million and total reserves of […]

Gov. Inslee’s transportation budget proposal would add funding for fish passage barrier removal, but transportation funding challenges loom

Gov. Inslee’s proposed supplemental transportation budget would increase 2023–25 appropriations from all funds by $1.580 billion (11.6%). Of that, $1.035 billion is considered maintenance level and $544.9 million is new policy. (Of the total change, $418.0 million is from federal funds.) Generally, the maintenance level is the cost of continuing current services, adjusted for inflation […]

In Gov. Inslee’s capital budget proposal, capital gains tax revenues would largely supplant current capital funding for schools

Gov. Inslee’s 2024 supplemental capital budget proposal would increase capital appropriations by $1.321 billion (15.3%). Revised 2023–25 capital appropriations would total $9.982 billion. About 80% of the increase comes from new revenues from the capital gains tax and carbon allowance auction proceeds. Any capital gains tax revenues that exceed $500 million in a year are […]

New policies in the governor’s operating budget proposal would increase appropriations by $1.085 billion

Gov. Inslee’s supplemental operating budget proposal would increase 2023–25 appropriations from funds subject to the outlook (NGFO) by $1.955 billion. Of that increase, $870.4 million is maintenance level (the cost of continuing current services, adjusted for inflation and enrollment) and $1.085 billion is new policy. The chart below shows how the new policy spending would […]

Gov. Inslee’s 2024 supplemental operating budget proposal would increase appropriations by 2.8%

[Updated 12/14] Gov. Inslee has proposed a 2024 supplemental operating budget that would increase 2023–25 appropriations from funds subject to the outlook (NGFO) by $1.955 billion (2.8%). Revised 2023–25 NGFO appropriations would be $71.760 billion, which would be 15.5% above actual spending in 2021–23. The proposal would not increase revenues, but it would use reserve […]