About the Office of Economic and Financial Analysis
Who are we?
The Office of Economic and Financial Analysis (OEFA -- pronounced oh-ee-fuh) is an independent agency of King County. Our office is typically made up of two economists and one confidential secretary. See right-hand margin for our contact information.
What do we do?
We produce economic and revenue forecasts for budgeting purposes for King County. In addition, we conduct economic studies at the pleasure of the Forecast Council (see below for a description of the Forecast Council).
When was our office created?
In November 2008, King County voters approved an amendment to the King County Charter creating our office.
Where are we located?
Our office is located in the King County Administration Building in downtown Seattle. See left-hand margin for our address and mailstop.
Why do we do what we do?
The King County annual biennial budget is approximately $10 billion. It is up to the executive and legislative branches to develop and adopt a balanced budget for each biennium. Our office was created to produce independent economic and revenue forecasts using best practices to facilitate the development of King County's budget.
What is the composition of the King County Forecast Council?
The King County Forecast Council (KCFC) is composed of two representatives from the executive branch and two representatives from the Metropolitan King County Council. The KCFC oversees the OEFA and the work of the King County Chief Economist. The KCFC meets several times a year to review the work of the OEFA, to review or adopt forecasts or to propose special studies for the OEFA.
The council members from the legislative branch change each year. The KCFC is chaired by the executive in even number years and a member of the legislative branch in odd numbered years.
Members of the 2016 KCFC:
· Dow Constantine, King County Executive, Chair
· Kathy Lambert, King County Councilmember
· Dave Upthegrove, King County Councilmember
· Dwight Dively, Director of the Office of Performance, Strategy and Budget (PSB)
Dave Reich - Chief Economist
Tony Cacallori - Economist
Laurie Elofson - Economic Administrator