Covenant Healthcare System, Inc.
Wilbur, Marjorie 8/23/95
Also available from the Wisconsin Ethics Board are reports identifying the amount and value of time state agencies have spent to affect legislative action and reports of expenditures for lobbying activities filed by the organizations that employ lobbyists.
Sincerely,
R. Roth Judd
Executive Director
State of Wisconsin
Department of Administration
Department of Natural Resources
August 25, 1995
The Honorable, The Senate:
Attached to this letter is the Clean Water Fund Biennial Finance Plan for the 1995-1997 biennium. Submission to and review of the Biennial Finance Plan by the Joint Committee on Finance, environmental legislative standing committees and the Building Commission is required under s.
144.2415(3), Wis. Stats. The statute allows the Joint Committee on Finance and each standing committee to submit to the Building Commission its recommendations and comments regarding the Biennial Finance Plan.
This plan was prepared jointly by the Department of Natural Resources and the Department of Administration Capitol Finance Office. This final version of the plan reflects
1995 Wis. Act 27. Previous Biennial Finance Plans included a list of grant and loan funds received by municipalities during the last biennium. That list will be part of the Biennial Finance Report which will be distributed on November 1, 1995.
If you have any questions regarding the Biennial Finance Plan, please contact Kathryn A. Curtner at 266-0860 or Frank Hoadley at 266-2305.
Sincerely,
Kathryn A. Curtner
Director, Bureau of Environmental Loans
Department of Natural Resources
Frank R. Hoadley
Capital Finance Director
Department of Administration
Referred to joint committee on Finance.
Referred to committee on Environment and Energy.
State of Wisconsin
Legislative Audit Bureau
August 29, 1995
The Honorable, The Legislature:
We have completed an evaluation of the State of Wisconsin Investment Board's bonus compensation plan and private placement investment activities, as directed by the Joint Legislative Audit Committee. This is in addition to report 95-16, which examined the Board's investment practices.
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Administration of the bonus compensation plan has improved since 1991, when the Legislature required changes to ensure that awards were based on merit. Nevertheless, the Investment Board remains concerned that staff turnover and recruiting efforts are affected by its ability to compete with private-sector investment firms for staff. In
Assembly Bill 150, the Governor proposed increasing the amount of funds available for bonuses and the size of bonuses available to individual staff. However, bonuses that have been paid have seldom approached the current limit of 25 percent of an individual's salary, because funds available are limited to 10 percent of annual salaries and because the Board's policy allows some available funds to lapse.
Private placements are loans or other direct investments in businesses. In 1995, the Investment Board's private placement portfolio includes almost $3.6 billion, of which 12 percent is invested in Wisconsin companies. A 1994 review by Price Waterhouse found only one instance in which investment staff did not follow all of the Board's investment guidelines for private placements. However, Price Waterhouse recommended more investment authority be delegated to staff and that investment procedures be made more explicit.
We also reviewed the Board's investments with companies controlled by Mr. Irwin Jacobs of Minneapolis, Minnesota. Although several steps in the transactions involving Mr. Jacobs raise questions, Investments Board staff indicate the process used in approving these investments was similar to that used in other private placement transactions.
We appreciate the courtesy and cooperation extended to us by the State of Wisconsin Investment Board's staff. A response from the Board's Executive Director is Appendix II.
Sincerely,
dale cattanach
State Auditor
__________________
State of Wisconsin
Office of the Governor
The Honorable, The Senate:
This is to inform you that I am withdrawing the nomination of Ms. Maureen Hlavacek for appointment to the Wisconsin Gaming Commission.
Ms. Hlavacek has notified me that she will be resigning effective Monday, August 21, 1995.
Thank you for your attention to this matter.
Sincerely,
Tommy G. Thompson
Governor
State of Wisconsin
Office of the Governor
August 28, 1995
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Poulson, Howard (Dan),
of Palmyra, as a member of the Department of Natural Resources Board, to serve for the term ending May 1, 2001.
Sincerely,
TOMMY G. THOMPSON
Governor
Read and referred to committee on Environment and Energy.
State of Wisconsin
Office of the Governor
August 21, 1995
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Scepaniak, F. Scott,
of Madison, as a member of the Wisconsin Gaming Commission, to serve for the interim term ending July 1, 1996.
Sincerely,
TOMMY G. THOMPSON
Governor
Read and referred to committee on Business, Economic Development and Urban Affairs.
State of Wisconsin
Office of the Governor
August 23, 1995
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Millis
, Don M.,
of Sun Prairie, as a member of the Tax Appeals Commission, to serve for the term ending March 1, 2001.
Sincerely,
TOMMY G. THOMPSON
Governor
Read and referred to committee on State Government Operations and Corrections.
__________________
__________________
Relating to authorizing savings banks to invest their funds in specified financial products.
Submitted by Office of the Commissioner of Savings and Loan
Report received from Agency
, August 25, 1995.
Referred to committee on Education and Financial Institutions
, August 30, 1995.
The Committee on Environment and Energy reports and recommends:
Relating to quota allocation, quota transfers and commercial fishing for smelt on Lake Michigan and Green Bay.
No action taken.
Relating to state land use regulations.
