Council on Revenues

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Council on Revenues Meeting

The next general fund meeting is tentatively scheduled for Friday, September 2, 2016 at 10:30 a.m.

2016

Council on Revenues 2016 forecasts
Forecasts Minutes
Total Personal Income Forecast – July 14, 2016  
General Fund Forecast – May 24, 2016
General Fund Forecast – May 24, 2016 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
May 24, 2016 minutes
General Fund Forecast – March 10, 2016
General Fund Forecast – March 10, 2016 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
March 10, 2016 minutes
Informational briefing to legislative Finance committees – January 21, 2016 presented by Kurt Kawafuchi
Council on Revenues presentation slides (PDF) 9 slides, 187 KB
Council on Revenues Testimony (PDF) 8 pages, 162 KB.
General Fund Forecast – January 7, 2016
General Fund Forecast – January 7, 2016 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
January 7, 2016 minutes

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2015

Council on Revenues 2015 forecasts
Forecasts Minutes
Total Personal Income Forecast – November 2, 2015 November 2, 2015
General Fund Forecast – September 3, 2015
General Fund Forecast – September 3, 2015 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
September 3, 2015
Total Personal Income Forecast – July 30, 2015 July 30, 2015 minutes
General Fund Forecast – May 21, 2015
General Fund Forecast – May 21, 2015 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
May 21, 2015 minutes
General Fund Forecast – March 12, 2015
General Fund Forecast – March 12, 2015 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
March 12, 2015 minutes
Informational briefing to legislative Finance committees – January 21, 2015 presented by Kurt Kawafuchi
Council on Revenues presentation slides (PDF) 17 slides, 492 KB
Council on Revenues Testimony (PDF) 4 pages, 113 KB – Table 1, Figure 1, and Figure 2.
General Fund Forecast – January 6, 2015
General Fund Forecast – January 6, 2015 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
January 6, 2015 minutes

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About the Council on Revenues

The Council on Revenues is attached to the Department of Taxation for Administrative Purposes.

The Council on Revenues, established under section 37-111, Hawaii Revised Statutes, prepares revenue estimates of the state government for each fiscal year of the six-year state program and financial plan.

The Council reports its latest revenue forecast to the governor and the legislature on June 1, September 10, January 10, and March 15 of each year. In addition, the Council prepares estimates of the state total personal income for such calendar years as are necessary for establishing the state expenditure ceiling.

Forecasts of total personal income are reported to the director of finance, the governor, the chief justice, and the legislature each August 5 and November 5.  Estimates prepared by the Council are considered by the governor in preparing the state budget, recommending appropriations, and controlling expenditures; they are considered by the legislature in appropriating funds and enacting revenue measures.

The Council consists of seven members, three of whom are appointed by the Governor for four-year terms and two each of whom are appointed by the President of the Senate and the Speaker of the House of Representatives for two-year terms. The Council is not required to comply with the law on open meetings for public agencies when confidential tax information is discussed, but all estimates submitted to the Governor and Legislature by the Council are public.

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Council on Revenues

Kurt Kawafuchi, J.D., LL.M., M.B.A., C.P.A (not in public practice), Chair
term ends: 06-30-2017
Marilyn M. Niwao, J.D., CPA, Vice-Chair
term ends: 06-30-2017
Carl S. Bonham, Ph.D., Member
term ends: 06-30-2019
Christopher Grandy, Ph.D., Member
term ends: 06-30-2019
Elizabeth P. Cambra, Member
term ends: 06-30-2017
Jack P. Suyderhoud, Ph.D., Member
term ends: 06-30-2019
Kristi L. Maynard, Member
term ends: 06-30-2017