State Budget Shortfall Up to $2.2 BillionNovember 13th, 2009 by Steven Gardner
A report by the state’s Caseload Forecast Council has created a potential increase of $520 million in what the state needs to spend, according to an e-mail sent to members of the House’s Ways & Means Committee.
Yona Makowski, senior fiscal coordinator for the House Democratic Caucus, wrote that the council’s revised forecast will be shown in the governor’s 2010 supplemental budget, which had already been expected to address a projected $1.7 billion shortfall.
Makowski wrote that the state’s Office of Financial Management computed the cost of the changes at $277.4 million, but other costs not directly related to the caseloads would add another $243 million.
State Rep. Larry Seaquist, D-Gig Harbor, shared the e-mail with us and pointed out that there is still another revenue forecast due, which could show another negative revision to the budget.
You can download the Caseload Forecast Council report here.
Some of the PowerPoint presentations offered at Friday morning’s meeting can be accessed here.