Office of Financial Management

Our monthly economic report for October 2024 shows:

Washington’s projected Near General Fund revenue collections through 2029 decreased by $39 million overall from the June 2024 forecast, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

The forecast is comprised of revenue estimates for the current biennium (2023–25), which ends June 30, 2025, the next biennium (2025–27) and the subsequent biennium (2027–29).

Projected collections for the 2023–25 state budget decreased by $49 million to just below $66.5 billion — about a 0.1% decrease from the June 2024 forecast.

OFM has just launched a series of dashboards designed to track and display the progress of specific state agencies in implementing the HEAL (Healthy Environment for All) Act, Washington's landmark environmental justice law: 

In 2023, OFM undertook a significant update to our mission, vision, and values to better reflect our evolving role and commitment to serving Washingtonians. As part of this ongoing transformation, we recognized the need for a logo that better aligned with our refreshed purpose and values.

OLYMPIA, Wash. – Washington state’s total population grew by an estimated 84,550 — to 8,035,700 as of April 1, 2024, according to annual estimates prepared by the Office of Financial Management.

Washington is growing, though it is doing so slightly slower than the annual average from last decade (84,550 in 2024 compared to 98,200 from 2010–20). The population is growing similarly to last year, however, with an unadjusted growth rate of 1.1% for both years. Looking at the current decade as a whole, the population has grown by 329,400 since April 1, 2020, or about 4.3%.

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2023–25 state budget decreased by $477 million to around $66.5 billion — about a 0.7% decrease from the February 2023 projection, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

An innovative team using service trucks to reach people around the state who can’t easily get to a DSHS office to access benefits.

A partnership between WorkSource Yakima and the Yakama Nation Veteran Affairs Center, working together to improve training and employment services for tribal members who are veterans.

A WSDOT worker that showed quick thinking to keep his team safe from a violent crime spree.

The first week of May is for recognizing the great work and service public employees provide for Washingtonians. Join us in celebrating state employees at in-person cross-agency events on the Capitol Campus in Olympia, in Spokane, in the Tri-Cities and at T-Mobile Park.

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2023–25 state budget increased by $122 million to around $67 billion — about a 0.2% increase from the November 2023 projection, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

Governor Jay Inslee released his 2024 supplemental budget proposals, which serve as a mid-way update to the state’s two-year 2023–25 budgets. His release precedes the start of the 60-day legislative session on January 8.

Heading into the new year, Washington’s overall economic health remains strong. Pandemic response funding is winding down, but new state revenues have kept pace with higher costs from inflation and entitlement caseload increases.