Washington’s projected “near general fund” revenue collections for the 2017-19 state budget have increased by about $288 million, according to estimates released by the Washington State Economic and Revenue Forecast Council.
“The national economic trends we’ve identified in recent forecasts are holding relatively steady, while the state economy is slightly stronger than expected in June,” Steve Lerch, forecast council executive director, said. “This quarter’s update reflects these modest changes.”
The total near general fund revenue, which includes increases approved by the Legislature this year, are projected at around $4 billion for the current two-year budget cycle that began July 1.
The latest forecast projects the state to have nearly $2.4 billion in total reserves at the end of the 2017-19 biennium.
