UW Budget
November 30, 2010
Seattle Times Highlights Importance of Pension Funding Policy
The Seattle Times published an article yesterday that outlined the State Treasurer’s desire to pursue a state constitutional amendment that would require the Legislature, starting in 2015, to invest more money into pension plans up front to help the state avoid ever entering ‘pay-go’ status where pension obligations must be covered from the state general…
November 20, 2010
Additional Near- and Long-Term Cuts Expected as State’s Revenue Forecast Worsens
After the November 18, 2010 release of the state’s November revenue forecast, Vice Provost of Planning and Budgeting Paul Jenny released the following information to UW leadership: As most of you are aware, the November revenue forecast for the state was released yesterday, and it was not good news. The forecast projects a shortfall of…
November 8, 2010
Election Results Exacerbate State Budget Woes
Washington’s General Fund-State account continues to decline in tandem with stagnant job growth and faltering tax collections. Last Tuesday, Washington voters reversed the 2010 Legislature’s tax measure on certain foods and beverages; the tax will sunset on December 1, 2010. Notably, the American Beverage Association contributed $16.7 million in total to the campaign repealing these…
October 19, 2010
Fall 2010 Submissions to the Office of Financial Management (OFM)
UW administration recently submitted four budget exercises to not only close out the current biennium (2009-11), but also to plan for the coming biennium (2011-13). Each submission was required by OFM. Information to make final adjustments to the current, 2009-11 biennium: Before the Legislature starts the process of creating an operating budget for the next…
September 23, 2010
State Budget Deficits Continue To Grow Across US
As the UW works to address the recent 6.3% across the board state budget reduction for Fiscal Year 2011 ($17.1 million for the UW) ordered by Governor Gregoire last week, other states across the country also continue to struggle with growing state budget deficits. While the recession may have technically ended in June 2009, the…
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