Tuesday, May 28, 2002
Ninety-Fifth Regular Session
The Chief Clerk makes the following entries under the above date:
__________________
Relating to auditing standards, standards for accounting and review services, and standards for attestation engagements.
Submitted by Department of Regulation and Licensing.
Report received from Agency, May 10, 2002.
To committee on Small Business and Consumer Affairs.
Referred on May 21, 2002
.
Relating to child support cooperation for Wisconsin works.
Submitted by Department of Workforce Development.
Report received from Agency, May 22, 2002.
To committee on Children and Families
.
Referred on May 28, 2002
.
Relating to child support cooperation for food stamps.
Submitted by Department of Workforce Development.
Report received from Agency, May 22, 2002.
To committee on Children and Families
.
Referred on May 28, 2002
.
Relating to bank sales of certificates of deposit of third-party banks.
Submitted by Department of Financial Institutions.
Report received from Agency, May 22, 2002.
To committee on Financial Institutions
.
Referred on May 28, 2002
.
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Referral of Agency Reports
State of Wisconsin
Investment Board
Madison
May 9, 2002
To the Honorable, the Legislature:
Pursuant to s.
25.17 (14r), Stats., I have attached copies of SWIB's recently revised Investment Guidelines and a summary of the changes.
Some of the revisions this time incorporate actions taken by the Board to implement recommendations made by outside consultants. The recommendations included restructuring the alternative investments' and private placements' portfolios, clarifying further the role of Trustees as governing fiduciaries and staff as managing fiduciaries, and creating additional internal portfolios to manage the retirement funds. Some of the revisions address concerns that the Legislative Audit Bureau raised when it conducted the biennial 1999-2000 performance audit.
Finally, we have added a new guideline that will allow SWIB to index of the smaller funds that we manage - the Patients Compensation Fund, the State Life Insurance Fund, the Local Government Property Insurance Fund and the Historical Society Fund. SWIB has the authority under the statutes and rules of the Commissioner of Insurance to invest these funds through externally managed index funds.
We have marked substantive changes or new provisions to the document. In addition, I have attached a brief summary of the changes.
If you have any questions or comments, please contact me.
Sincerely,
Patricia Lipton
Executive Director
Referred to committee on Ways and Means.
__________________
State of Wisconsin
Department of Administration
Madison
May 15, 2002
To the Honorable, the Legislature:
Chapter 34, Laws of 1979, requires that when the Department of Administration maintains an office in Washington, DC, for the purpose of promoting federal/state cooperation, it should submit a report detailing the activities of the office and reporting the status of federal legislation of concern to the Legislature and other state agencies (Wis. Stats. 16.548 (2)).
A864
The report for the period January, 2002, through March 2002 is attached.
Sincerely,
George Lightbourn
Secretary
Referred to committee on State Affairs.
__________________
State of Wisconsin
Department of Administration
Madison
May 20, 2002
To 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 balances during the month of April 2002.
On April 1, 2002 the General Fund balance was -$231.1 million. This shortfall continued until April 19, 2002 when the balance reached a positive $78.0 million. During this period, the General Fund balance reached a low of -$359.8 million on April 10, 2002. The shortfall was due to the difference in the timing of revenues and expenditures, in combination with the overall budget shortfall.
