Last week the Washington State Economic and Revenue Forecast Council released the November revenue forecast.

The recent forecast shows an increase of $115 million in Near General Fund revenue for the current two-year budget.  Near General Fund collections are now projected to total $34.07 billion for the current biennium (2013-15).  In addition the forecast also projected a $275 million increase for the next biennium (2015-17); totaling $36.98 billion for 2015-17.

However the revenue forecast announced today, even with the increases, is insufficient to offset the costs of new caseload and enrollment projections announced earlier this year.

The Caseload Forecast Council projected Washington would have nearly 11,000 more K-12 students by the end of the next biennium. The council also projects the state will have 36,500 more Medicaid recipients than previously forecast as well as more children in foster care and more criminal offenders under community supervision.

Gov. Jay Inslee’s proposed 2015–17 budget will be released in December. The next revenue forecast will be released in March 2015.