Drafter
Clerk 03/08/2024
Title
A RESOLUTION adopting the 2024 and 2025 discount rates for King County.
Body
BE IT RESOLVED BY THE FORECAST COUNCIL OF KING COUNTY:
WHEREAS, the county recognizes that having formal financial policies provide guidance on financial analysis is in the best interest of the county and its citizens, and
WHEREAS, the county wants to engage in sound fiduciary decision-making of investments made by the county on behalf of county residents, and
WHEREAS, the county desires to ensure consistent analysis across county agencies, and
WHEREAS, the county adopted revised comprehensive financial management policies in Motion 14803 that included discount rate policies, and
WHEREAS, Motion 14803 requires the office of economic and financial analysis to develop discount rates and have the forecast council approve them;
NOW, THEREFORE, BE IT RESOLVED BY THE KING COUNTY FORECAST COUNCIL:
The forecast council hereby adopts the following discount rates for 2024 and 2025:
Nominal discount rate: 3.5%
Real discount rate: 0.5%