Council on Revenues

RELATED INFORMATION:

Council on Revenues Meeting

The next tentative (TPI) COR meeting is set for Thursday, July 26, 2018 at 2pm.

2018

Council on Revenues 2018 forecasts
Forecasts Minutes
General Fund Forecast – May 24, 2018
General Fund Forecast – May 24, 2018 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
 
General Fund Forecast – March 13, 2018
General Fund Forecast – March 13, 2018 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
March 13, 2018 minutes
General Fund Forecast – January 8, 2018
General Fund Forecast – January 8, 2018 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
January 8, 2018 minutes
Informational briefing to legislative Finance committees – January 2, 2018 presented by Marilyn N. Niwao
Council on Revenues presentation slides (PDF) 33 pages, 673 KB.
Council on Revenues testimony 8 pages, 258 KB, and Council on Revenues Exhibit A 3 pages, 127 KB

2017

Council on Revenues 2017 forecasts
Forecasts Minutes
Total Personal Income Forecast – October 25, 2017 October 25, 2017 minutes
General Fund Forecast – September 7, 2017
General Fund Forecast – September 7, 2017 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
September 7, 2017 minutes
Total Personal Income Forecast – August 1, 2017 August 1, 2017 minutes
General Fund Forecast – May 30, 2017
General Fund Forecast – May 30, 2017 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
May 30, 2017 minutes
General Fund Forecast – March 13, 2017
General Fund Forecast – March 13, 2017 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
March 13, 2017 minutes
General Fund Forecast – January 4, 2017
General Fund Forecast – January 4, 2017 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.
January 4, 2017 minutes
Informational briefing to legislative Finance committees – January 5, 2017 presented by Kurt Kawafuchi
Council on Revenues presentation slides (PDF) 10 pages, 187 KB, and Supplemental presentation slides (PDF) 2 pages, 127 KB.
Council on Revenues Testimony (PDF) 9 pages, 352 KB.

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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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RELATED INFORMATION:

Council on Revenues

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