ESTABLISHMENT
OF A FORECAST COUNCIL
The importance of economic and revenue forecasting has become very
evident in recent years. Major budget decisions and policy options are affected
by state forecasts of economic activity and revenue collections. Efforts to
increase legislative participation in and understanding of the forecasting
process can increase the credibility and utility of the forecasts.
NOW,
THEREFORE, I, John Spellman, Governor of the
state of Washington, do hereby resolve that a forecast council be immediately
established to:
A. Oversee the preparation of and approve,
by majority vote, a state economic and General Fund-state revenue forecast for
the biennium; and
B. Make available to the Governor and
legislature such forecasts on or before February 20 in even-numbered years,
March 20 in odd-numbered years, and on June 20, September 20, and December 20
of each year.
The
Forecast Council shall consist of six individuals, two of whom shall be
appointed by the Governor and one of whom shall be
appointed by the chairperson of each of the political caucuses of the Senate
and House of Representatives.
The Office
of Financial Management, the Department of Revenue, and other state agencies
responsible for collecting and preparing estimates of biennial revenues are
called upon to provide whatever support is necessary to carry out the tasks
assigned to the Forecast Council. The Department of Revenue is further called
upon to ensure that revenue collection information is available to the Governor
and legislature the first business day following the conclusion of each
collection period.
IN WITNESS WHEREOF, I have hereunto
set my hand and caused
the seal of the State
of Washington to be
affixed at Olympia
this 17th day of
January A.D., Nineteen hundred and eighty-four.
JOHN SPELLMAN
Governor of Washington
BY THE GOVERNOR:
_________________________________
Secretary of State
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