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Content posted prior to 2020. Will not be remediated for accessibility unless specifically requested.

November Revenue Forecast Estimates Continued Growth

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On Wednesday, the Washington state聽Economic and Revenue Forecast Council聽released its聽November revenue forecast, which projected a slight increase to General Fund-State (GF-S) collections over the聽September revenue forecast. The GF-S revenue forecast increased by $215 million for the current 2015-17 biennium and $137 million for the 2017-19 biennium.

  • Final GF-S revenue collections for the 2013-15 biennium were $33.666 billion.
  • Total projected GF-S revenue for the 2015-17 biennium is now $37.980 billion, 12.8 percent more than the 2013-15 biennium.
  • Total projected GF-S revenue for the 2017-19 biennium is now $40.514 billion, 6.7 percent more than the 2015-17 biennium.
  • Total projected GF-S revenue for the 2019-21 biennium is now $43.656 billion, 7.8 percent more than the 2017-19 biennium.

Behind the numbers:

  • The forecast attributes the higher projections due mainly to increases in retail sales tax and Real Estate Excise Tax (REET) collections.
  • The forecast includes slightly stronger personal income and employment but lower housing permits.
  • Concerns cited in the forecast include slow global and U.S. Economic Growth, weak labor productivity growth and uncertainty regarding fiscal and trade policy.
  • Washington state employment is up by 13,500 net new jobs in September and October.

According to an , this additional tax revenue will contribute to a 2017-19 state budget that is expected to be more than $40 billion. David Schumacher, Director of the Governor鈥檚 Office of Financial Management, stated that this increase in revenue 鈥渁lways helps, but it doesn鈥檛 solve the huge problems we鈥檙e facing.鈥� One of the biggest problems Schumacher referred to is the Washington state Supreme Court鈥檚 mandate to increase K-12 education spending (McCleary v. State of Washington). While there is current debate about the estimated cost of complying with McCleary, the most commonly cited estimate is approximately $3.5 billion, and in Schumacher鈥檚 opinion 鈥渢here鈥檚 broad agreement that we鈥檙e that neighborhood.鈥�

Governor Jay Inslee will use this revenue forecast and estimates for complying with McCleary when crafting his state budget proposal, which will be released in mid-December in advance of the 2017 legislative session. Stay tuned to the OPBlog for updates on the Governor鈥檚 budget proposal when it is released.

OPBlog: Introduction

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Hello! My name is Matthew Schoenfeld and I am the 2016-2017 Legislative Analysis Intern with the Office of Planning & Budgeting. I am currently studying for a Master in Public Administration at the Evans School of Public Policy & Governance. I also conducted my undergraduate studies here at UW, earning my BA in Political Science and Law, Societies and Justice. Throughout the school year, I will be updating this blog with posts involving various higher education topics. Post may include, but are not limited to: federal and state legislative issues, reports discussing current trends in higher education, and UW-specific policy initiatives. I am excited to join the team and keep the 91探花community updated on what鈥檚 happening in the world of higher education.

 

Please contact me at mschoenf@uw.edu with any questions or feedback you may have. Thank you so much for reading!

September Revenue Forecast Anticipates Continued Moderate Growth

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Yesterday, the聽Economic and Revenue Forecast Council聽(ERFC) released its聽, which increased projected General Fund-State (GF-S) collections by $334 million for the current 2015-17 biennium and by $125 million for the upcoming 2017-19 biennium. As a reminder, there will be one more revenue forecast in November before Governor Inslee releases his proposed 2017-19 biennial budget in anticipation of the 2017 legislative session.

Here is a quick summary of the total projected GF-S revenue for each biennium:

  • $37.765 billion for the 2015-17 biennium, 12.2 percent more than 2013-15
  • $40.377 billion for the 2017-19 biennium, 6.9 percent more than 2015-17
  • $43.630 billion for the 2019-21 biennium, 8.1 percent more than 2017-19

Behind the numbers:

  • Revenue collections from June to September were $225 million higher than forecasted in June, but over half of that increase was attributed to several large (and one-time) audit-related payments of past-due taxes.
  • This forecast noted slightly stronger personal income and employment compared to the June forecast.
  • Strong retail sales, housing construction, and real estate excise tax (REET) collections continue to create positive revenue trends.
  • Risks to the revenue forecast include weak labor productivity and slow economic growth (both in the U.S. and globally).

Any excess revenue collected in the 2015-17 biennium will contribute to reserves (est. $1.8 Billion) that will be available to spend in the 2017-19 biennium, however, the state continues to face significant budgetary challenges in complying with the .

Stay tuned to the OPBlog for updates on revenue forecasts and the upcoming 2017 legislative session.

UW鈥檚 2017-19 State Operating Budget Request

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On September 15, 2016,聽OPB submitted the UW’s 2017-19 state operating budget request to the Governor’s Office of Financial Management.聽The 91探花is聽mindful of the continuing budget challenges facing the state of Washington and, thus, has聽limited its聽budget requests to the 11 most essential and strategic state investments for the 2017-19 biennium. These, along with a variety of mandatory reports and forms that make up a biennial state budget submission, are available on our website at the following location:聽

Here is a brief summary of our requests:

Maintenance Level

  1. Maintenance & Operations: For the Intellectual House, Burke Museum, Computer Science & Engineering expansion and 91探花Tacoma Urban Solutions facilities.
  2. WWAMI Spokane Continuation: To continue the recent increase of 20 91探花medical students in Spokane to years three and four of their education program. The existing biennial budget funds these students for years one and two of the program.
  3. Marijuana Research: For additional marijuana research funding that was authorized in legislation during the 2015-17 biennium.
  4. Occupational Health Internship Management: For one full鈥恡ime staff member to help meet accreditation needs in the Dept. of Environmental and Occupational Health Sciences.

Performance Level

  1. Competitive Compensation and Retention: For 4 percent salary and benefit increases in FY18 and FY19 for faculty and professional staff. Separate decision packages will be submitted for employees covered under collective bargaining agreements.
  2. Maintenance & Operations: For the Nano Engineering & Science Building and the Life Sciences Building.
  3. WWAMI Spokane Expansion: To expand the UW’s medical student education program in Spokane by an additional 20 students per cohort, starting in FY 2018.
  4. Tri-Campus Student Success Initiative: To expand programs at all three campuses that improve access, retention, graduation and career preparation, with an emphasis on first generation, low-income, underrepresented minority and transfer students鈥攅specially those in STEM fields.
  5. RIDE Expansion Bridge: To permit RIDE students to spend their second year of dental education in Spokane, rather than returning to Seattle. This program is in partnership with Eastern Washington University.
  6. High-Demand Enrollments: To expand instructional capacity and enrollment at all three campuses in high-demand fields, such as engineering, computer science, ocean engineering and cyber operations.
  7. Regenerative Medicine Institute: To support the Institute鈥檚 scientific cores, add new faculty, provide pilot grants to leverage federal research grants, support student research training and provide translational bridge awards to convert research breakthroughs into products with commercial potential.
  • Additional Attachment: A request for a transportation budget appropriation for a Washington State Research Vessel to be operated by the 91探花and used by local, state, federal and tribal agencies.

Please contact or if you have questions.

New OPB Brief on Activity Based Budgeting (ABB) Trends

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A from the Office of Planning & Budgeting provides an overview of Activity Based Budgeting (ABB) distribution principles and trends at the 91探花in Seattle. This brief updates of ABB trends, adding the most recent year’s data. It compares the ABB budgets of Seattle academic units to those of Seattle administrative units over the last six years (FY12-FY17).

Introducing Peer Finance Dashboards!

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OPB鈥檚 Institutional Analysis team and UW-IT鈥檚 Enterprise Information, Integration & Analytics unit announce seven , available now in 91探花Profiles. These new dashboards join four existing peer dashboards. Peer dashboards use data publicly available through the Integrated Postsecondary Education Data System (IPEDS) to allow users to compare the 91探花to peer institutions around the country on a range of student- and finance-focused measures.

With the new finance dashboards, users can compare revenues, expenses, and endowment values at the 91探花and peer institutions. They can also explore the relative importance of different revenue sources and expense categories across institutions. The expenses story dashboard provides a step-by-step look at the expenses that directly or indirectly support universities鈥� research and instruction missions.

More information about each of the new peer finance dashboards is available through the online documentation. Please feel free to send any questions or comments to uwprofiles@uw.edu.

Update: Supreme Court Decision on Fisher v. University of Texas

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On Thursday, the U.S. Supreme Court upheld University of Texas at Austin鈥檚 race-conscious admissions policy in its second consideration of a Fisher v. University of Texas appeal. As a reminder, the case stemmed from a lawsuit by Abigail Fisher, a white applicant to UT Austin who claimed she was unfairly rejected due to the university鈥檚 affirmative action admissions program. Since our , when the Supreme Court ordered the U.S. Court of Appeals for the Fifth Circuit to reconsider the case, the appellate court affirmed their decision in favor of UT, and Fisher again appealed that court鈥檚 decision to the Supreme Court. For additional background on this case, please see our previous two posts, found聽听补苍诲听.

The case was decided by an unusual 4-3 margin due to Justice Kagan鈥檚 recusal and the recent death of Justice Scalia. According to the聽, Justice Kennedy, who had never before voted to uphold an affirmative action plan, wrote for the majority that 鈥溾�t remains an enduring challenge to our nation鈥檚 education system to reconcile the pursuit of diversity with the constitutional promise of equal treatment and dignity.鈥�

This decision marks the end of the Fisher case, but the debate over affirmative action in higher education carries on.

Stay tuned to the OPBlog for updates.

June Revenue Forecast Increases Projections for the 2015-17 and 2017-19 Biennia

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Last week, the聽Economic and Revenue Forecast Council聽(ERFC) released its聽, which increased projected General Fund-State (GF-S) collections by $294 million for the current 2015-17 biennium and by $126 million for the upcoming 2017-19 biennium. This is an improvement over the February forecast, which had predicted slower revenue growth in both biennia (see our blog post ). As a reminder, there will be at least three more revenue forecasts between now and when the legislature sets the 2017-19 budget.

Here is a quick summary of the total projected GF-S revenue for each biennia:

  • $37.431 billion for the 2015-17 biennium, 11.2 percent more than 2013-15.
  • $40.252 billion for the 2017-19 biennium, 7.5 percent more than 2015-17.
  • $43.575 billion for the 2019-21 biennium, 8.3 percent more than 2017-19.

Behind the numbers:

  • The forecast attributed the increase to strong sales of large commercial properties and rising home prices.
  • Other positives included growth in housing permits and increases in inflation, which typically result in greater retail sales, business taxes, and property taxes.
  • Slight decreases in U.S. and Washington state personal income forecasts continue to have a negative effect on the revenue forecast.

According to a from the Governor鈥檚 Office of Financial Management, 鈥淲ith the latest forecast, the state is now projected to have nearly $1.5 billion in total reserves at the end of the current biennium and more than $1.4 billion at the end of the 2017鈥�19 biennium. Those reserve figures, however, do not take into account the multibillion obligation the state faces in the next biennium to meet its constitutional obligation to fully fund basic education.鈥�

As a result, state agencies, including the UW, have received to severely limit requests for new programs or policy initiatives in their requests for state funding in the 2017-19 biennium.

Stay tuned to the OPBlog for updates on revenue forecasts.

2016-17 Cost of Attendance for First-Year 91探花Undergrads

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The estimated annual cost of attendance for first-year 91探花undergraduates聽is now available for the聽2016-17聽academic year. 聽Cost of attendance shows estimated expenses by campus for:

  • Tuition
  • Student fees
  • Room & board
  • Books, personal, & transportation

Cost of attendance (COA) is defined by the Higher Education Act.聽 It is a statutory term that typically refers to the estimated cost for a full-time student to attend an institution of higher education for a standard nine-month academic year.

After accounting for grant and scholarship aid, 91探花students (particularly resident undergraduates) often pay far less than the estimated COA. 聽In 2014-15 (the most recent year for which net price data is available), the published price for resident undergraduates at Seattle was $27,112, whereas the net price for first-time, resident undergraduates at Seattle was $9,744.

We will annually update the COA information on our website.

OPB Briefs: Higher Education Trends

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OPB has posted from the past year 聽to the Briefs tab of our website.

Based on The Chronicle of Higher Education鈥檚 , the brief summarizes the ten trends outlined by The Chronicle and highlights relevant examples from Washington state. The brief also outlines a selection of additional higher education trends which we have observed.