WHEREAS, sound financial management requires a clear understanding and analysis of national and regional factors affecting the state's economy.

WHEREAS, the Governor's Council of Economic Advisors has provided advice to the Governor on a broad range of economic and fiscal matters that are vital to the state's financial well-being.

WHEREAS, re-establishment of the council will ensure its continued and effective operation.

NOW, THEREFORE, I, Gary Locke, Governor of the State of Washington, by virtue of the power vested in me, do hereby reaffirm the need for and establishment of the Governor's Council of Economic Advisors, and direct the following:

1.	Executive Order 90-05 is hereby rescinded.
2.	The Governor's Council of Economic Advisors is hereby re-established as an advisory council, formed to make recommendations to the Governor. The council is not a policy or rule-making body, or committee thereof, and is not empowered to take action on behalf of the Governor.
3.	The council shall be appointed by, and serve at the pleasure of, the Governor. The Director of Financial Management shall periodically review the composition and structure of the council and, after consultation with the Departments of Revenue; Community, Trade, and Economic Development; Employment Security; and Agriculture, as well as the Economic and Revenue Forecast Council, recommend changes to the Governor.
4.	Members officially appointed to and serving on the council on the date of this executive order shall continue service on the new council until they are re-appointed or replaced by the Governor. Members appointed or re-appointed after the date of this executive order shall serve at the pleasure of the Governor.
5.	In making appointments and re-appointments to the council, the Governor shall consider individuals who represent major economic sectors of the state and have knowledge of timely and significant economic issues.
6.	The council shall advise the Governor on state and local economic conditions and outlook, including national and regional developments affecting the state.
7.	The council shall analyze general state economic conditions and periodically review and provide advice concerning special economic developments affecting major sectors of the state's economy.
8.	The council shall meet at least quarterly so that timely advice can be provided prior to the adoption of the quarterly official state economic and revenue forecast.
9.	Members appointed to the council and other attendees at council meetings shall respect the proprietary nature of certain information provided by members by not disclosing such information to other parties, within the bounds of applicable law.
10.	The Office of Financial Management (OFM) shall provide administrative support to the council and shall coordinate staff support with other state agencies.
11.	The Departments of Revenue; Employment Security; and Community, Trade, and Economic Development shall provide the council with additional data and information regarding general and special economic topics.
12.	This executive order shall take effect immediately.

	IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the State of Washington to be affixed at Olympia this 20th day of January A.D., Nineteen hundred and ninety-nine.
	Gary Locke Governor of Washington
BY THE GOVERNOR: Tracy A. Guerin Deputy Secretary of State

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