Sincerely,
rick raemisch
Secretary
Referred to committee on Judiciary, Corrections, Insurance, Campaign Finance Reform, and Housing.
__________________
State of Wisconsin
Department of Administration
March 31, 2009
The Honorable, The Legislature:
This report is transmitted as required by s.
20.002(11)(f), Wisconsin Statutes, (for distribution to the appropriate standing committees under s.
13.172(3), Wisconsin Statutes) and confirms that the Department of Administration has found it necessary to exercise the "temporary reallocation of balances" authority provided by this section in order to meet payment responsibilities and cover resulting negative cash balances during the month of February 2009.
On February 1, 2009, the
Injured Patients and Families Compensation Fund cash balance closed at a negative $101.1 million. This negative balance continued through February 28, 2009, when the fund's cash balance closed at a negative $74.3 million. The
Injured Patients and Families Compensation Fund cash balance reached its intra-month low of a negative $101.3 million on February 9, 2009. The negative balance was due to the transfer of $200 million to the Medical Assistance Trust Fund per
2007 Wisconsin Act 20, and the pending liquidation of fund securities necessary to offset this shortfall.
On February1, 2009, the Conservation Fund cash balance closed at a negative $ 1.6 million. This negative balance continued through February 28, 2009, when the fund's cash balance closed at a negative $15.7 million. The negative balance was due to the difference in the timing of revenues and expenditures.
On February1, 2009, the Utility Public Benefits Fund cash balance closed at a negative $1.6million. This negative balance continued through February 28, 2009, when the fund's cash balance closed at a negative $5.6 million. The Utility Public Benefits Fund cash balance reached its intra-month low of a negative 6.7 million on February 23, 2009. The negative balance was due to a delayed transfer to the fund.
The Injured Patients and Families Compensation Fund, Conservation Fund, and Utility Public Benefits Fund shortfalls were not in excess of the statutory interfund borrowing limitations and did not exceed the balances of the funds available for interfund borrowing.
The distribution of interest earnings to investment pool participants is based on the average daily balance in the pool and each fund's share. Therefore, the monthly calculation by the State Controller's Office will automatically reflect the use of these temporary reallocations of balance authority, and as a result, the funds requiring the use of the authority will effectively bear the interest cost.
Sincerely,
michael l. morgan
Secretary
Referred to joint committee on Finance.
__________________
Relating to VOC emission controls for industrial wastewater collection and treatment operations.
Submitted by Department of Natural Resources.
Report received from Agency, March 30, 2009.
Referred to committee on Environment,
March 31, 2009
.
Relating to replacement of life insurance or annuity contracts and to disclosure requirements.
Submitted by Insurance Commissioner.
Report received from Agency, March 27, 2009.
Referred to committee on Judiciary, Corrections, Insurance, Campaign Finance Reform, and Housing, March 31, 2009
.
Relating to medicare supplement insurance and affecting small business.
Submitted by Insurance Commissioner.
Report received from Agency, March 30, 2009.
Referred to committee on Health, Health Insurance, Privacy, Property Tax Relief, and Revenue,
March 31, 2009
.
Relating to the application of reasonably available control technology for volatile organic compound emissions from certain operations within the synthetic organic chemical manufacturing industry.
Submitted by Department of Natural Resources.
Report received from Agency, March 30, 2009.
Referred to committee on Environment,
March 31, 2009
.
Relating to the application of reasonably available control technology emission limitations to sources of volatile organic compounds in ozone non-attainment counties, and affecting small business.
Submitted by Department of Natural Resources.
Report received from Agency, March 30, 2009.
Referred to committee on Environment,
March 31, 2009
.
