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 made up of two economists and one economic administrator.
What do we do?
We produce economic and revenue forecasts for King County budgeting purposes. 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 on the 3rd floor of the King Street Center building in downtown Seattle. Our address is:
201 S Jackson Street, 3rd floor
Seattle, WA 98104
Why do we do what we do?
The King County biennial budget is approximately $12.4 billion. It is up to the executive and legislative branches to develop and adopt a balanced budget 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 OEFA and the work of the King County Chief Economist. The KCFC meets several times a year to review the work of OEFA, to review or adopt forecasts, or to propose special studies for OEFA.
The Councilmembers 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 2023 KCFC:
· Dow Constantine, King County Executive, Vice Chair
· Joe McDermott, King County Councilmember, Chair
· Jeanne Kohl-Welles, 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