TO: Heads of All State Departments and Agencies

RE: Establishment of Governor's Economic Advisory Council

WHEREAS, a continuing knowledge of current and projected economic conditions is essential to sound management of the State government; and

WHEREAS, increasingly complex relationships occurring within both the State and national economies have made accurate economic forecasting an exceedingly difficult task; and

WHEREAS, the importance of coordinating economic planning in the State's public and private sectors is well recognized.

NOW, THEREFORE, I, SHERMAN W. TRIBBITT, by the authority vested in me as Governor of the State of Delaware, do hereby declare and order as follows:

1. The "Governor's Economic Advisory Council" is hereby established.

2. The Council is charged with the following responsibilities:

(a) Carry on a continuing review of the State's economic condition and advise the Governor on economic trends when necessary,

(b) Meet on a regular basis, as designated by the Chairman of the Council,

(c) Submit to the Governor on a monthly basis, estimates of General Fund revenue for the current fiscal year,

(d) Submit to the Governor during the period October 15 to June 30 of each year, revenue estimates for the following fiscal year in addition to those described in paragraph (c),

(e) Serve in a general advisory capacity to the Governor and the Department of Finance.

3. Staff assistance from the Bureau of Economics and Statistics, Department of Finance, and the Social and Economic Analysis Section, State Planning Office, will be provided to the Council as required.

4. All State agencies shall cooperate with this Council in providing data and assistance as deemed necessary in improving the economic planning within the State.

5. All meetings are to be open to the public. Advance notice of meetings shall be publicly announced by the Chairman.

6. The Council shall consist of 16 members who are to be appointed as follows :

(a) Mr. Edward W. Hagemeyer, Farmers Bank

(b) Honorable Richard Cordrey, Delaware State Senate

(c) Mr. Robert E. Davis, Diamond State Telephone Company

(d) Mr. G. Donald Dryden, State Budget Director

(e) Mr. William H. Eubank, Almart Stores

(f) Mr. Davis S. Hefter, DuPont Company

(g) Mr. Bruce Hudson, State Planning Office

(h) President Pro Tempore Delaware State Senate

() Mr. Hisham Khalil Department of Finance

(j) Speaker of the House Delaware House of Representatives

(k) Dr. John Landon, College of Business and Economics University of Delaware

(1) Honorable John Malarkey, Department of Finance

(m) Mr. Clifford Phillips, Getty Oil Company

(n) Mr. Frank Vavala, Department of Labor

(o) Mr. E. Sherman Webb, Administrative Assistant to the Governor

(p) Honorable Sandra Worthen, Delaware House of Representatives

7. The Chairman of the Council shall be Edward W. Hagemeyer.

Approved this 10th of July, 1974.






Secretary of State