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Department of Financial Institutions

  Average Annual FTEs Near General Fund State Other Funds Total Funds
  (Dollars in Thousands)
Current Budget 210.8 0 61,678 61,678
2023-25 Maintenance Level 210.8 0 72,168 72,168
Difference from 2023-25 Original 0.0 0 10,490 10,490
% Change from 2023-25 Original 0.0% 0.0% 17.0% 17.0%

2023 Policy Other Changes

Preserving Consumer Protection 16.2 0 3,840 3,840
2023 Policy Other Changes Total 16.2 0 3,840 3,840

2023 Policy Comp Changes

State Employee Benefits 0.0 0 87 87
Non-Rep Recruitment/Retention 0.0 0 212 212
Non-Rep General Wage Increase 0.0 0 2,785 2,785
PERS & TRS Plan 1 Benefit Increase 0.0 0 46 46
Vaccine Booster Incentive 0.0 0 183 183
2023 Policy Comp Changes Total 0.0 0 3,313 3,313

2023 Policy Central Services Changes

Shared Tenant M365 to CSM 0.0 0 (163) (163)
State Data Center 0.0 0 (32) (32)
Archives/Records Management 0.0 0 4 4
Audit Services 0.0 0 2 2
Legal Services 0.0 0 155 155
Administrative Hearings 0.0 0 30 30
CTS Central Services 0.0 0 301 301
DES Central Services 0.0 0 39 39
OFM Central Services 0.0 0 324 324
GOV Central Services 0.0 0 75 75
2023 Policy Central Services Changes Total 0.0 0 735 735
Total Policy Changes 16.2 0 7,888 7,888
2023-25 Policy Level 227.0 0 80,056 80,056
Difference from 2021-23 16.2 0 18,378 18,378
% Change from 2023-25 Original 7.7% 0.0% 29.8% 29.8%

Policy Changes

Preserving Consumer Protection

There has been an increase in the number of reviews and services requested by industry representatives. Expenditure authority is provided to hire staff to support increased regulatory activities and to expand services. (Financial Services Regulation Acct - Non-Appropriated)

State Employee Benefits

Health insurance funding is provided for state employees who are not represented by a union, who are covered by a bargaining agreement that is not subject to financial feasibility determination, or who are not part of the coalition of unions for health benefits. The insurance funding rate is $1,160 per employee per month for fiscal year 2024 and $1,233 per employee per month for fiscal year 2025. (Financial Services Regulation Acct - Non-Appropriated)

Non-Rep Recruitment/Retention

Funding is provided for recognition and retention lump sum payments for employees employed on or before July 1, 2022 and continuously employed through July 1, 2023. (Financial Services Regulation Acct - Non-Appropriated)

Non-Rep General Wage Increase

Funding is provided for wage increases for state employees who are not represented by a union or who are covered by a bargaining agreement that is not subject to financial feasibility determination. It is sufficient for a general wage increase of 4 percent, effective July 1, 2023 and a general wage increase of 3 percent, effective July 1, 2024. This item includes both general government and higher education workers. (Financial Services Regulation Acct - Non-Appropriated)

PERS & TRS Plan 1 Benefit Increase

For eligible Public Employees' and Teachers' Retirement Systems Plan 1 members, this item provides an increase of 3%, up to a maximum of $110 per month. (Financial Services Regulation Acct - Non-Appropriated)

Vaccine Booster Incentive

Funding is provided for a $1,000 lump sum COVID-19 booster incentive for non-represented employees. This funding does not cover institutions of higher education. (Financial Services Regulation Acct - Non-Appropriated)

Shared Tenant M365 to CSM

Agency budgets are reduced by the base budget amounts provided to Consolidated Technology Services for Microsoft 365 licenses so the cost can be added to the central service model allocation in CTS central services (Step 92J). (Financial Services Regulation Acct - Non-Appropriated)

State Data Center

Adjustments are made for each agency's share of costs related to the State Data Center. (Financial Services Regulation Acct - Non-Appropriated)

Archives/Records Management

Adjustments are made for each agency's anticipated share of charges for archives and records management services provided by the Secretary of State's Office. (Financial Services Regulation Acct - Non-Appropriated)

Audit Services

Adjustments are made for each agency's anticipated cost of audits performed by the State Auditor's Office. (Financial Services Regulation Acct - Non-Appropriated)

Legal Services

Adjustments are made for each agency's anticipated cost of legal services provided by the Attorney General's Office. Because legal services expenditures are based on consumption, funding provided in the central service model is not all inclusive. The methodology to estimate consumption has been updated from a three-year average to a two-year average and allows for analysis to incorporate unique agency circumstances. (Financial Services Regulation Acct - Non-Appropriated)

Administrative Hearings

Adjustments are made for each agency's anticipated cost of hearings performed by the Office of Administrative Hearings. (Financial Services Regulation Acct - Non-Appropriated)

CTS Central Services

Adjustments are made to reflect each agency's anticipated share of charges from Consolidated Technology Services (CTS) for the Office of the Chief Information Officer, Office of Cybersecurity, state network, enterprise services, small agency IT services, security gateways, and geospatial imaging services. This amount now includes the total amount for agencies that use the Microsoft 365 shared tenant. See Chapter 11 of the 2023-25 OFM Budget Instructions for allocation methodologies. (Financial Services Regulation Acct - Non-Appropriated)

DES Central Services

Adjustments are made to reflect each agency's anticipated share of charges from the Department of Enterprise Services (DES) for campus rent, parking, contracts, and security; capital project surcharges; financing cost recovery; public and historic facilities; real estate services; risk management services; personnel service rates; the Perry Street and Capitol Campus child care centers; small agency services; and the department's enterprise applications. See Chapter 11 of the 2023-25 OFM Budget Instructions for allocation methodologies. (Financial Services Regulation Acct - Non-Appropriated)

OFM Central Services

Adjustments are made to reflect each agency's anticipated share of charges for existing statewide applications, the One Washington program, and other central services provided by the Office of Financial Management. See Chapter 11 of the 2023-25 OFM Budget Instructions for allocation methodologies. (Financial Services Regulation Acct - Non-Appropriated)

GOV Central Services

A new central service is created to reflect each agency's anticipated share of charges from the Office of the Governor for statewide policy staff and the Office of Equity. (Financial Services Regulation Acct - Non-Appropriated)