Entries by Duane Davidson

In Review: The Washington Office of the State Treasurer

I am grateful to have recently received the President’s Distinguished Service Award from the National Association of State Treasurers (NAST). I would like to extend a big thank you to NAST for their partnership over the years and for this incredible award. It has given me a chance to reflect back on things from my […]

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Somber News Delivered with Improvements in Transparency

Today’s Economic & Review Forecast Council meeting resulted in an alarming yet expected forecast of declining revenue for the State of Washington. The meeting also resulted in a new level of transparency for the state’s rainy day fund. We are certainly dismayed but not surprised by the revised forecast, and now face the fact that the […]

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Treasurer: Senate’s Attempt to Divert Funds Sets Dangerous Precedent

Quotes from Treasurer Davidson follow. “We’re extremely concerned with today’s proposals to divert $700 million from being deposited in the Rainy Day Fund.  Choosing to not save today when we’re experiencing extraordinary revenue growth guarantees that our budget problems will be much greater when the next recession hits.” On long-term planning: “We’ve had 10 recessions […]

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Use Increased State Revenue to Reduce Unfunded Pension Liabilities

Olympia, WA – Washington State Treasurer Duane Davidson today called on the Legislature to use some of the unprecedented increase in State Revenue to pay down State obligations rather than spending all of it on expanding existing programs. Treasurer Davidson stated, “It is good financial management to use unexpected revenue to pay down your most […]