Washington state is recovering. Slightly.
Washington’s revenue forecast for fiscal 2014-2015 has improved slightly. Not enough to dramatically change anything. But good enough to provide a tiny bit of extra budgetary cushion.
The state economist’s office predicts $345 million more in revenue will materialize in 2014-2015 than forecasted in June. said Steve Lerch, head of that office, on Wednesday when he briefed the state’s Economic & Revenue Forecast Council. “There has been little dramatic change in the economy since our last forecast, and we continue to expect a slowly improving economy,” Lerch said.
“It’s a relatively small amount and will help us have an ending fund balance larger than 47 cents,” said council member Rep. Ross Hunter, D-Medina. Council member Sen. Andy Hill, R-Redmond, echoed that observation.