State forecasts more revenue than previously expected

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

olympiaOLYMPIA — The revenue forecast for the Washington state government shows a $368 million general fund revenue increase over the previous forecast last June, the Washington State Office of Financial Management said in a release.

The figures were released Wednesday by the Washington State Economic and Revenue Forecast Council.

The council increased its revenue forecast by $345 million for the 2013-15 biennium, and by about $24 million from the previous 2011-13 biennium. General fund collections are now projected at $33 billion for the new two-year budget cycle, which began July 1.

The director of the Office of Financial Management, David Schumacher, said the marker is a sign economic conditions are improving.

“The economy continues its steady, but slow, improvement and the revenue picture reflects that modest growth,” Schumacher said.

The next revenue forecast is scheduled for release Nov. 20. Gov. Inslee will propose a 2013–15 supplemental budget by Dec. 24.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s