Office of Financial Management

Revenue collections and forecast continue to lag pre-pandemic levels

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2019–21 state budget have increased by more than $634 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

But revenue collections and forecast remain below pre-pandemic levels

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2019–21 state budget have increased by more than $2.2 billion, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

An estimated 7,656,200 people resided in Washington state as of April 1, according to annual estimates prepared by the Office of Financial Management. The COVID-19 crisis did not have a discernible impact on the 2020 estimates because most population change occurred before the crisis began. Strong population growth continued in Washington, with the state adding 109,800 people over the last year, a 1.5% increase. Migration continues to be the primary driver behind Washington’s population growth.

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2019–21 state budget have decreased by nearly $4.5 billion, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

“Forecasting right now is clouded by uncertainty around federal interventions, global pandemic trends and how quickly the economy responds if COVID19 wanes,” said Steve Lerch, forecast council executive director. “This update is our best attempt at capturing the decline in revenue sources using the best data we can assemble.”

Gov. Jay Inslee issued a directive to executive and small cabinet agencies today to freeze all hiring, personal service contracts and equipment purchases. The directive aims to mitigate the impacts of the COVID-19 pandemic on Washington's economy and financial outlook.

Facing a growing fiscal threat posed by the COVID-19 (coronavirus) outbreak, Gov. Jay Inslee used his line-item veto authority today to trim $235 million from the 2020 supplemental operating budget the Legislature approved last month. The vetoes will reduce spending another $210 million in the state’s next two-year budget.

State funds totaling $171.7 million have been distributed to state agencies and institutions to use to respond to the COVID-19 outbreak crisis. This is part of a total $200 million in funds budgeted by the Legislature in Engrossed House Bill 2965. The current allocations are listed below. Click the column headings to sort by that column, or use the search box to filter by keyword:

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2019–21 state budget have increased by $606 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

“There has been a slight improvement in revenues above our anticipated level this quarter,” said Steve Lerch, forecast council executive director. “But nothing that suggests fundamental changes to our previous forecast.”

Gov. Jay Inslee released his 2020 supplemental budget proposal Wednesday with substantial investments that address the statewide homelessness crisis, expand early learning and strengthen the foster care system, and enhance diversity, equity and inclusion efforts in government, schools and communities.

Gov. Jay Inslee recently signed an executive order that directs Washington state agencies to update many of the state’s technology systems — some of them from the dinosaur era, in computer years. These systems help the state continue uninterrupted services to Washingtonians and are overdue for important and more current technology updates.