To the Honorable, the Legislature:
At the request of the departments of Commerce and Administration, and to meet our audit responsibilities under s.
13.94, Wis. Stats., we have completed a financial audit of the State of Wisconsin Petroleum Inspection Fee Revenue Obligations Program for the period March 2, 2000 through June 30, 2000. We were able to express our unqualified opinion on the Program's Statement of Changes in Program Assets and related notes.
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The Petroleum Inspection Fee Revenue Obligations Program provides financing for payment of claims under the Wisconsin Petroleum Environmental Cleanup Fund Award (PECFA) program. In a previous evaluation of the PECFA program (report 98-14), we noted a large backlog of approved but unpaid PECFA claims and identified options for the Legislature's consideration. To address the backlog, the Legislature authorized the State to issue up to $270 million of revenue obligations to be repaid by a $0.03 per gallon fee charged suppliers for petroleum products sold in Wisconsin. These revenue obligations, which may include bonds, commercial paper, or other obligations, are not general obligations of the State.
Between March 2, 2000, when the Petroleum Inspection Fee Revenue Obligations Program started, and June 30, 2000, the State issued $230 million of revenue obligations. An additional $20 million was issued in December 2000. Proceeds from the sale of this debt, along with petroleum inspection fees collected from suppliers in excess of debt service requirements, have allowed the State to reduce the December 31, 1999 backlog from almost $196 million in approved but unpaid PECFA claims to less than $16 million as of June 30, 2000. However, as of June 30, 2000, the Department of Commerce had yet to review for approval approximately $25 million in claimed costs, and it continues to receive new claims every month.
We appreciate the courtesy and cooperation extended to us during the audit by staff of the departments of Commerce, Administration, and Revenue.
Respectfully submitted,
Janice Mueller
State Auditor
__________________
State of Wisconsin
Legislative Audit Bureau
Madison
December 21, 2000
To the Honorable, the Legislature:
We have completed a financial audit of the State of Wisconsin Educational Communications Board Radio Network to meet our audit requirements under s.
13.94, Wis. Stats., and as requested by the Educational Communications Board to fulfill the audit requirements of the Corporation for Public Broadcasting. The Corporation requires audited financial statements of public broadcasting entities to determine future funding levels.
The Educational Communications Board, which is an agency of the State of Wisconsin, operates a radio network of 12 FM stations and 1 AM station, as well as a television network of 5 stations. The radio network received $6.5 million in support and revenue during fiscal year 1999-2000, including state support, member contributions, funding from the Corporation for Public Broadcasting, and various other grants.
Our audit report contains the financial statements and related notes for the period July 1, 1999 through June 30, 2000. We were able to issue an unqualified independent auditor's report on these statements.
We appreciate the courtesy and cooperation extended to us by Educational Communications Board staff during the audit.
Respectfully submitted,
Janice Mueller
State Auditor
__________________
State of Wisconsin
Legislative Audit Bureau
Madison
December 21, 2000
To the Honorable, the Legislature:
We have completed a financial audit of the State of Wisconsin Educational Communications Board Television Network to meet our audit requirements under s.
13.94, Wis. Stats., and as requested by the Educational Communications Board to fulfill the audit requirements of the Corporation for Public Broadcasting. The Corporation requires audited financial statements of public broadcasting entities to determine future funding levels.
The Educational Communications Board, which is an agency of the State of Wisconsin, operates a television network of 5 stations, as well as a radio network of 12 FM stations and 1 AM station. The television network received $12.2 million in support and revenue during fiscal year 1999-2000, including state support, member contributions, funding from the Corporation for Public Broadcasting, and various other grants.
Our audit report contains the financial statements and related notes for the period July 1, 1999 through June 30, 2000. We were able to issue an unqualified independent auditor's report on these statements.
We appreciate the courtesy and cooperation extended to us by Educational Communications Board staff during the audit.
Respectfully submitted,
Janice Mueller
State Auditor
