Cafr Project
CAFR Project of Washington State, Fiscal Year 2008.
1.
The CAFR Project which I am assigned is Washington State. http://www.ofm.wa.gov/cafr/ The most recent fiscal year is 2008; the last date of the fiscal year is June 30, 2008.
The governor is Christine Gregoire.
2.
A. The date on the letter is December17, 2008.
B. This letter addressed to Governor Mrs. Christine Gregoire, Members of the legislature and Citizens of the state.
C. This letter is written by Mr. Victor A. Moore Director of office of Financial Management.
D. In the letter of Transmittal, Mr. Moore briefly introduces the Economy and revenues outlook of Washington State.
First of all, Mr. Moore uses hard date to let readers know the employment conditions of different sectors in the state. Such as the annual Unemployment rate is 4.7 percent. Mr. Moore also mentioned the employment structure changes thorough the state. The aerospace employment maintain its hiring pace in fiscal year 2008, this sector created 6400 jobs, and increase of 8.3 percent of employment. While the manufacturing employment decreased.
Secondly, Mr. Moore gives readers more detail information regarding to the Economic Condition in Fiscal Year 2008. Including non-farm payroll employment grew by 2.1 percent in fiscal year 2008, much better than the 0.7 percent increase in U.S nonfarm payroll employment. But on the other hand, manufacturing employment and durable manufacturing employment, other than aerospace, was considerably declined, 0.8% and 0.4% separately. However, it is still better than nation-wide decline rate. Because the manufacturing industries in Washington State are mainly focus on lumber, wood products and heavy trucks. Both of them are impacted by the shrink of housing market in Washington State and national markets and by soaring fuel cost.
Mr. Moore also highlights the Economic outlook for Fiscal Year 2009.
1. The personal income is expected to grow by 2.9 percent in fiscal year 2009, while the
1.
The CAFR Project which I am assigned is Washington State. http://www.ofm.wa.gov/cafr/ The most recent fiscal year is 2008; the last date of the fiscal year is June 30, 2008.
The governor is Christine Gregoire.
2.
A. The date on the letter is December17, 2008.
B. This letter addressed to Governor Mrs. Christine Gregoire, Members of the legislature and Citizens of the state.
C. This letter is written by Mr. Victor A. Moore Director of office of Financial Management.
D. In the letter of Transmittal, Mr. Moore briefly introduces the Economy and revenues outlook of Washington State.
First of all, Mr. Moore uses hard date to let readers know the employment conditions of different sectors in the state. Such as the annual Unemployment rate is 4.7 percent. Mr. Moore also mentioned the employment structure changes thorough the state. The aerospace employment maintain its hiring pace in fiscal year 2008, this sector created 6400 jobs, and increase of 8.3 percent of employment. While the manufacturing employment decreased.
Secondly, Mr. Moore gives readers more detail information regarding to the Economic Condition in Fiscal Year 2008. Including non-farm payroll employment grew by 2.1 percent in fiscal year 2008, much better than the 0.7 percent increase in U.S nonfarm payroll employment. But on the other hand, manufacturing employment and durable manufacturing employment, other than aerospace, was considerably declined, 0.8% and 0.4% separately. However, it is still better than nation-wide decline rate. Because the manufacturing industries in Washington State are mainly focus on lumber, wood products and heavy trucks. Both of them are impacted by the shrink of housing market in Washington State and national markets and by soaring fuel cost.
Mr. Moore also highlights the Economic outlook for Fiscal Year 2009.
1. The personal income is expected to grow by 2.9 percent in fiscal year 2009, while the