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Washington State 2015-2017 Operating Budget Outlook and Additional Revenue Projections

The Washington State 2015-2017 Operating Budget Outlook forecasts an additional $2.4 billion in revenue, with projected spending needs of $1 billion. Key policy enhancements totaling $600 million are planned for early learning, higher education, and state employee salaries. Maintenance and carry-forward costs are estimated at $1.7 billion, which includes funds for low-income healthcare, K-12 education, and mental health services. Additionally, the state’s ranking in tax collections has shifted from 11th in 1995 to 35th in 2011, reflecting a broader fiscal context.

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Washington State 2015-2017 Operating Budget Outlook and Additional Revenue Projections

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  1. Preliminary 2015–17 Operating Budget Outlook Near General Fund (GF-State, Education Legacy Trust Account, Opportunity Pathways Account) Projected Additional Revenue $2.4 billion $1 billion Projected Additional Spending Needs • Policy Enhancements $600M includes: • early learning • higher education • state employee and higher education salaries • all other policy enhancements • Maintenance & Carry ForwardEstimated $1.7 billion • Includes $647M to continue FY 2015 appropriation level. • Maintenance level estimate includes: • $175M low-income health care • $215M K-12 education • $150M mental health, DD, long-term care $1.2 billion –$2 billion McCleary $200M debt service $308M employee health care $216M I-732 COLA $339M pension costs

  2. In 1995, Washington ranked 11th in state and local tax collections … By 2011, we ranked 35th State and Local Tax Collections Per $1,000 Personal Income Fiscal Year 2011 U.S. Average = $108.31 Washington $98.95 Source: Bureau of Economic Analysis and Census BureauU.S. Department of Commerce

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