Revenue forecast for 2019–21 budget increased by $443 million

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2017–19 state budget have increased by nearly $348 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

“With positive adjustments to both state personal income and employment, we have revised the latest forecast upward slightly,” said Steve Lerch, forecast council executive director.

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2017–19 state budget have increased by a net $298 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council. 

“With collections once again running above the previous forecast, particularly given the increase in housing values, we revised the forecast upward,” said Steve Lerch, forecast council executive director.  

A new system that will both streamline and modernize budget development and reporting operations for Washington state agencies and for state government as a whole was launched today.

The new Agency Budget System (ABS) is a collaborative project between the state’s Office of Financial Management (OFM), which manages the state’s budgeting processes, and Washington Technology Solutions (WaTech), which lent about two dozen staff to the project through its inception in September 2016.