Boards and Commissions

Service on Boards & Commissions

These independent financial policy-making bodies address important issues for our state’s economy, pensions, banking regulation, affordable housing, educational access, and other public finance and personal investments.

Funding Infrastructure and Transportation Projects

State Finance Committee: The State Treasurer chairs the three-member State Finance Committee, which also includes the Governor and Lieutenant Governor. It is administered by the Office of the State Treasurer. This Committee approves the issuance of all bonds and other financial obligations for the State of Washington.

This financing supports capital projects authorized in the legislature’s capital and transportation budgets, including major infrastructure, school, environmental improvement, and transportation-related projects like ferries, bridges and roads. Meeting notices, briefing books, agenda, and meeting minutes are available on the State Finance Committee webpage.

Regulating Financial Institutions that Hold Public Funds

Public Deposit Protection Commission: The State Treasurer chairs the three-member Public Deposit Protection Commission (PDPC), which also includes the Governor and Lieutenant Governor. It is administered by the Office of the State Treasurer. The PDPC ensures that public government funds held in by certain financial institutions, known as qualified public depositaries, are protected.

The PDPC works to ensure that these public funds – money collected by local and state government – are properly collateralized and that these banking and credit union institutions follow regulations that protect against the loss of public funds due to financial institution insolvency. Meeting notices, briefing books, agenda, and meeting minutes are available on the PDPC webpage.

Forecasting Revenue and the Economic Outlook

The Economic and Revenue Forecast Council: The State Treasurer is the elected executive branch member on the Economic and Revenue Forecast Council (ERFC), which is also comprised of legislative budget leaders and other appointed executive branch members. The ERFC adopts revenue forecasts used for state budgeting. The ERFC also provides the state budget outlook to increase financial transparency and to promote fiscal stability.

The ERFC combines statistical models and the best available data quarterly to forecast economic activity and state revenue for the state of Washington. The forecasts are prepared by non-partisan professional staff and approved by the bi-partisan ERFC. Meeting notices, briefing books, agenda, and meeting minutes are available on the ERFC webpage.

Forecasting Transportation Revenue Sources

Transportation Economic and Revenue Forecast Council (TERFC): The State Treasurer is the elected executive branch member on the Transportation Economic and Revenue Forecast Council (TERFC), which is the council responsible for producing transportation-related revenue forecasts four times per year, specifically focused on projecting revenue sources like motor fuel taxes, vehicle registrations, and other transportation fees, which are then used to inform transportation budget planning within the Washington state government.

The TERFC was established by the passage of a bill during the 2023-24 legislative session transferring responsibilities for the transportation revenue forecast for the transportation budget to the Economic and Revenue Forecast Council. Meeting notices, briefing books, agenda, and meeting minutes are available on the TERFC webpage.

Promoting Economic Development

Washington Economic Development Finance Authority Board: The State Treasurer is the elected executive branch member on the Washington Economic Development Finance Authority (WEDFA), which is also comprised of legislative, executive, and public members. WEDFA is a financial conduit to businesses through the issuance of “non-recourse revenue bonds,” also known as Industrial Revenue Bonds.

WEDFA is authorized to issue these bonds on both a taxable and tax-exempt basis in support of qualifying projects — primarily connecting manufacturing, processing, and waste disposal facilities with low-interest loans. Through this financing process, WEDFA passes lower interest rate savings to the borrower, reducing the borrowing cost. Meeting notices, briefing books, agenda, and meeting minutes are available on the WEDFA webpage.

Investing Public Pensions

Washington State Investment Board: The State Treasurer is an ex-officio member of the Washington State Investment Board (WSIB), which includes a total of 10-voting members of legislators, state agency leaders, and representatives of public pensioners. WSIB is independent from the Office of the State Treasurer’s Office and follows a legally-directed fiduciary duty to maximize investment returns at a prudent level of risk. 

WSIB manages investments of 17 retirement plans for public sector workers including teachers and other school workers, law enforcement, firefighters, and judges, and manages 18 more public investment funds for programs in industrial insurance, higher education, and developmental disabilities. Meeting notices, briefing books, agenda, and meeting minutes are available on the WSIB webpage.

Providing Education Access

Committee on Advanced Tuition Payment and College Savings (WA529 Committee): The State Treasurer is the elected member on the WA529 Committee, which includes members from the public and the Office of Financial Management. The WA529 Committee sets the Guaranteed Education Tuition (GET) unit price, program policies and manages investments to allow Washingtonians to save for higher education.

WA529 offers two programs to help Washington families save for educational expenses, the GET and DreamAhead college investment programs. Meeting notices, briefing books, agenda, and meeting minutes are available on the WA529 Committee webpage.

Financing Affordable Housing

Washington State Housing Finance Commission: The State Treasurer is an ex-officio member of the Washington State Housing Finance Commission (WSHFC), which includes 10 other members. WSHFC creates policies to meet the housing needs of low to moderate-income people and families.

WSHFC works to increase housing access and affordability and to expand the availability of quality community services for the people of Washington. Meeting notices, briefing books, agenda, and meeting minutes are available on the WSHFC webpage.

Saving for Families with Disabilities

Washington Achieving a Better Life Experience: The State Treasurer is the elected member on the Washington Achieving a Better Life Experience (ABLE) Governing Board. ABLE manages the Washington State ABLE Savings Plan, a Qualified ABLE Program. It is administered by the Department of Commerce.

ABLE is designed to provide eligible individuals with a means to save for disability-related expenses, allowing participants tax-free savings for education, job training, assistive technology, transportation, and more, without affecting federal and state benefits. Meeting notices, briefing books, agenda, and meeting minutes are available on the Department of Commerce’s ABLE webpage.