Gov. Chris Gregoire yesterday afternoon signed into law the operating and capital budgets approved by the Legislature last month.

TVW live blogged the event and you can read about the governor’s comments here.

There were no major surprises for WSU in the veto messages for either bill. You can check out a breakdown of what both budgets mean for WSU here.

And just as a bow is finally put on the arduous process of writing the next two year budget, the state’s Economic and Revenue Forecast Council is scheduled to issue a new forecast of state tax collections at 10 a.m. this morning. It’s quite possible, given news this week of a sudden downturn in actual tax collections over the past month, that the forecast will eat into the reserve left by the Legislature in the newly signed budget.

We’ll have a full report later today.