Washington 2023-2024 Regular Session Status: Enacted Bipartisan · 15 R · 3 D cosponsors

SB 5512 — Adding financial transparency reporting requirements to the public four-year dashboard.

Last action — Effective date 7/23/2023.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 23, 2023. Enacted.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 98% · high confidence

  • Enacted

    Current position in the legislative process.

  • 21 sponsors

    1 primary, 20 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (15 R · 3 D) — cross-party backing.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

47 added · 50 removed

Plain-language change summary

The recent amendments to SB 5512 removed specific financial metrics related to higher education institutions, such as "net position for the academy" and the "ratio of total expendable net assets per full-time equivalent student." Instead, new criteria have been introduced, focusing on operational metrics like annual operating margin and minimum reserves. This shift matters because it aims to provide clearer standards for assessing the financial health of universities, ultimately supporting better financial oversight and resource management in higher education.

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Latest
ENGROSSED SUBSTITUTE SENATE BILL 5512 State of Washington 68th Legislature 2023 Regular Session By Senate Higher Education & Workforce Development (originally sponsored by Senators Holy, Liias, Rivers, Salomon, J.
S-0661.1 SENATE BILL 5512 State of Washington 68th Legislature 2023 Regular Session By Senators Holy, Liias, Rivers, Salomon, J.
Wilson, MacEwen, Dozier, Wagoner, Warnick, Gildon, McCune, Short, King, Braun, Muzzall, Nguyen, Billig, and Boehnke) READ FIRST TIME 02/09/23.
Wilson, MacEwen, Dozier, Wagoner, Warnick, Gildon, McCune, Short, King, Braun, Muzzall, Nguyen, Billig, and Boehnke Read first time 01/23/23.
Referred to Committee on Higher Education & Workforce Development.
1 ESSB 5512 and include the following for the four-year institutions of higher education:
1 SB 5512 and include the following for the four-year institutions of higher education:
2 ESSB 5512 (m) Annual first-time enrollment:
2 SB 5512 (m) Annual first-time enrollment:
(u) Net position for the academy as defined by the national center for education statistics, integrated postsecondary education data system data glossary (2022);
(u) Annual operating margin as measured by the percent of all annual university revenues against annual university expenses:
(v) Annual primary reserve ratio as measured by expendable net assets to total expenses;
(i) Revenues include, but are not limited to, tuition, fees, room and board, state appropriations, and advancement dollars;
(w) Cash on hand as calculated by the ratio of total cash on hand for the academy divided by operating expenses for the academy minus noncash expenses divided by 365;
and (ii) Expenses include, but are not limited to, salaries and wages, university overhead, academic support, student services, institutional support, institutional aid, and auxiliary enterprises;
(x) Viability ratio as measured by unrestricted and expendable net assets, not including capital projects expendable net assets, divided by total debt;
(v) Annual primary reserve ration as measured by expendable net assets to total expenses;
(y) Ratio of total expendable net assets for the academy as defined by the national center for education statistics, integrated p.
(w) Minimum reserves as measured by the number of days the college or university can operate and cover its unrestricted operating expenses with cash;
3 ESSB 5512 postsecondary education data system data glossary (2022) per full- time equivalent student;
p.
(z) Total market value of college or university endowment holdings;
3 SB 5512 (x) Viability ratio as measured by unrestricted and expendable net assets, not including capital projects expendable net assets, divided by total debt;
and (aa) Total annual market value of college or university endowment earnings, the amount of the annual earnings that remain in the endowment after fees are removed, and the percentage of the annual remaining endowment earnings after fees are removed to total annual market value of college or university endowment earnings.
(y) Ratio of total financial resources per full-time equivalent student;
and (z) Total market value of college or university endowment holdings.
(4) In conjunction with the office of financial management, all four-year institutions of higher education must display the data described in subsection (2) of this section in a uniform dashboard format on the office of financial management's website no later than ((December 1, 2011, and updated thereafter annually by December 1st)) January 15th.
(4) In conjunction with the office of financial management, all four-year institutions of higher education must display the data described in subsection (2) of this section in a uniform dashboard format on the office of financial management's website no later than December 1, 2011, and updated thereafter annually by December 1st.
4 ESSB 5512
4 SB 5512
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Action History

  1. Effective date 7/23/2023.

  2. Chapter 98, 2023 Laws.

  3. Governor signed.

  4. Delivered to Governor.

  5. Speaker signed.

  6. President signed.

  7. Third reading, passed; yeas, 98; nays, 0; absent, 0; excused, 0.

  8. Rules suspended. Placed on Third Reading.

  9. Placed on second reading by Rules Committee.

  10. Referred to Rules 2 Review.

  11. PEW - Majority; do pass.

  12. Executive action taken in the House Committee on Postsecondary Education & Workforce at 8:00 AM.

  13. Public hearing in the House Committee on Postsecondary Education & Workforce at 8:00 AM.

  14. First reading, referred to Postsecondary Education & Workforce.

  15. Third reading, passed; yeas, 48; nays, 0; absent, 0; excused, 1.

  16. Rules suspended. Placed on Third Reading.

  17. Floor amendment(s) adopted.

  18. 1st substitute bill substituted (HEWD 23).

  19. Placed on second reading by Rules Committee.

  20. Passed to Rules Committee for second reading.

  21. WM - Majority; do pass 1st substitute bill proposed by Higher Education & Workforce Development.

  22. Executive action taken in the Senate Committee on Ways & Means at 9:00 AM.

  23. Public hearing in the Senate Committee on Ways & Means at 9:00 AM.

  24. Referred to Ways & Means.

  25. And refer to Ways & Means.

  26. HEWD - Majority; 1st substitute bill be substituted, do pass.

  27. Executive action taken in the Senate Committee on Higher Education & Workforce Development at 8:00 AM.

  28. Public hearing in the Senate Committee on Higher Education & Workforce Development at 8:00 AM.

  29. First reading, referred to Higher Education & Workforce Development.

Sponsors

Sponsorship breakdown

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1 sponsors · 20 co-sponsors · 130 not signed on

Sponsors (1)

Co-sponsors (20)

Not signed on (130)

130 members have not signed on to this bill.

Show all 130 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

3rd Reading & Final Passage (#13)

Passed 98 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 30000
Democrat 57000
Unaffiliated 11000
Total 98000
% of votes cast 100%0%0%0%
How each member voted (98)
Member Party Vote
Chambers — Yea
Chandler — Yea
Cheney — Yea
Chopp — Yea
Hutchins — Yea
Kretz — Yea
Maycumber — Yea
Mosbrucker — Yea
Robertson — Yea
Sandlin — Yea
Wilcox — Yea
Alex Ramel Democrat Yea
Alicia Rule Democrat Yea
Amy Walen Democrat Yea
April Berg Democrat Yea
Beth Doglio Democrat Yea
Bill Ramos Democrat Yea
Brandy Donaghy Democrat Yea
Chipalo Street Democrat Yea
Chris Stearns Democrat Yea
Cindy Ryu Democrat Yea
Clyde Shavers Democrat Yea
Dan Bronoske Democrat Yea
Darya Farivar Democrat Yea
Dave Paul Democrat Yea
David Hackney Democrat Yea
Davina Duerr Democrat Yea
Debra Entenman Democrat Yea
Debra Lekanoff Democrat Yea
Drew Hansen Democrat Yea
Emily Alvarado Democrat Yea
Gerry Pollet Democrat Yea
Jake Fey Democrat Yea
Jamila Taylor Democrat Yea
Jessica Bateman Democrat Yea
Joe Fitzgibbon Democrat Yea
Joe Timmons Democrat Yea
Julia Reed Democrat Yea
Julio Cortes Democrat Yea
Kristine Reeves Democrat Yea
Larry Springer Democrat Yea
Lauren Davis Democrat Yea
Laurie Jinkins Democrat Yea
Lillian Ortiz-Self Democrat Yea
Lisa Callan Democrat Yea
Liz Berry Democrat Yea
Marcus Riccelli Democrat Yea
Mari Leavitt Democrat Yea
Mary Fosse Democrat Yea
Melanie Morgan Democrat Yea
Mia Gregerson Democrat Yea
Mike Chapman Democrat Yea
Monica Jurado Stonier Democrat Yea
My-Linh Thai Democrat Yea
Nicole Macri Democrat Yea
Roger Goodman Democrat Yea
Sharlett Mena Democrat Yea
Sharon Tomiko Santos Democrat Yea
Sharon Wylie Democrat Yea
Shelley Kloba Democrat Yea
Steve Bergquist Democrat Yea
Steve Tharinger Democrat Yea
Strom Peterson Democrat Yea
Tana Senn Democrat Yea
Tarra Simmons Democrat Yea
Timm Ormsby Democrat Yea
Tina Orwall Democrat Yea
Vandana Slatter Democrat Yea
Alex Ybarra Republican Yea
Andrew Barkis Republican Yea
April Connors Republican Yea
Carolyn Eslick Republican Yea
Chris Corry Republican Yea
Cyndy Jacobsen Republican Yea
Dan Griffey Republican Yea
Drew Stokesbary Republican Yea
Ed Orcutt Republican Yea
Jenny Graham Republican Yea
Jim Walsh Republican Yea
Joe Schmick Republican Yea
Joel McEntire Republican Yea
Keith Goehner Republican Yea
Kevin Waters Republican Yea
Leonard Christian Republican Yea
Mark Klicker Republican Yea
Mary Dye Republican Yea
Michelle Valdez Republican Yea
Mike Steele Republican Yea
Mike Volz Republican Yea
Paul Harris Republican Yea
Peter Abbarno Republican Yea
Sam Low Republican Yea
Skyler Rude Republican Yea
Stephanie Barnard Republican Yea
Stephanie McClintock Republican Yea
Suzanne Schmidt Republican Yea
Tom Dent Republican Yea
Travis Couture Republican Yea

Official roll call →

3rd Reading & Final Passage (#20)

Passed 48 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 10001
Republican 16000
Democrat 22000
Total 48001
% of votes cast 98%0%0%2%
How each member voted (49)
Member Party Vote
Billig — Yea
Hawkins — Yea
Keiser — Yea
Kuderer — Yea
Mullet — Yea
Padden — Yea
Randall — Yea
Rivers — Not Voting
Rolfes — Yea
Van De Wege — Yea
Wilson, L. — Yea
Annette Cleveland Democrat Yea
Bob Hasegawa Democrat Yea
Claire Wilson Democrat Yea
Claudia Kauffman Democrat Yea
Derek Stanford Democrat Yea
Jamie Pedersen Democrat Yea
Javier Valdez Democrat Yea
Jesse Salomon Democrat Yea
Joe Nguyen Democrat Yea
John Lovick Democrat Yea
June Robinson Democrat Yea
Lisa Wellman Democrat Yea
Liz Lovelett Democrat Yea
Manka Dhingra Democrat Yea
Marko Liias Democrat Yea
Noel Frame Democrat Yea
Rebecca Saldaña Democrat Yea
Sharon Shewmake Democrat Yea
Steve Conway Democrat Yea
T'wina Nobles Democrat Yea
Victoria Hunt Democrat Yea
Yasmin Trudeau Democrat Yea
Chris Gildon Republican Yea
Curtis King Republican Yea
Drew MacEwen Republican Yea
Jeff Holy Republican Yea
Jeff Wilson Republican Yea
Jim McCune Republican Yea
John Braun Republican Yea
Judy Warnick Republican Yea
Keith Wagoner Republican Yea
Mark Schoesler Republican Yea
Matt Boehnke Republican Yea
Nikki Torres Republican Yea
Perry Dozier Republican Yea
Phil Fortunato Republican Yea
Ron Muzzall Republican Yea
Shelly Short Republican Yea

Official roll call →

Subjects

finance
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Frequently asked questions

Who sponsors SB 5512?
SB 5512 is sponsored by Matt Boehnke (Republican), Billig, Ron Muzzall (Republican), John Braun (Republican), Curtis King (Republican), Shelly Short (Republican), Jim McCune (Republican), Chris Gildon (Republican), Judy Warnick (Republican), Keith Wagoner (Republican), Perry Dozier (Republican), Drew MacEwen (Republican), Nikki Torres (Republican), Mark Schoesler (Republican), Jeff Wilson (Republican), Jesse Salomon (Democrat), Rivers, Marko Liias (Democrat), Jeff Holy (Republican), Joe Nguyen (Democrat), and Wilson, L..
What is the current status of SB 5512?
This bill has been enacted into law. Introduced January 23, 2023. Enacted.
Where can I track SB 5512?
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