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Committee approves FY2027 WA529 administrative budgets totaling about $8 million
Summary
The committee approved combined FY2027 administrative budgets for GET and WA529 Invest of roughly $8,000,000, citing marketing investments for continuous enrollment and compensation adjustments; WA529 Invest also reported progress toward eliminating its cumulative deficit by FY29–FY30.
The committee voted to adopt the proposed FY2027 administrative budgets for GET and WA529 Invest, a combined proposal of approximately $8,000,000, an increase of about $680,000 (roughly 9.3%) over the combined FY2026 approved budgets.
Maria Kelly, associate director for financial operations, walked members through drivers of the increase: marketing investments tied to continuous year-round enrollment (the largest driver), compensation increases (a 2% general wage adjustment plus step increases and reclassifications), and modest increases in goods and services including incentives linked to marketing and community engagement.
Kelly also outlined WA529 Invest’s improved financial trajectory: the program projects a net surplus in FY26 and organic resolution of its cumulative deficit between FY29 and FY30 under current projections. She noted a previously pursued supplemental appropriation request ($525,000) is being paused given the program’s improving position.
Chair called for a motion; a motion and second were made and the committee approved the budgets by voice vote. The transcript records the motion carries but does not provide a roll‑call tally by name.
