Ayes, 5 - Senators
Brown, Zien, S. Fitzgerald, Wirch and Breske.
Noes, 0 - None.
Ronald Brown
Chairperson
The committee on Labor, Small Business Development and Consumer Affairs reports and recommends:
Assembly Bill 202
Relating to: school board contracts for yearbook photographs.
Concurrence.
Ayes, 5 - Senators
Reynolds, Kedzie, Zien, Decker and Hansen.
Noes, 0 - None.
Thomas Reynolds
Chairperson
__________________
State of Wisconsin
Office of the State Treasurer
December 30, 2003
The Honorable, The Senate:
Attached to this letter is the EDVEST College Savings Program Annual Report for the 2002-2003 Fiscal Year ending June 30, 2003. Legislation for the EDVEST program requires the Office of the State Treasurer to annually report to the Governor and the Legislature on the program. This sixth annual report includes summaries of the required actuarial valuation, prepared by Millman USA and a program audit prepared by PriceWaterhouseCoopers, LLP as well as discussion of the key developments in the program over the past fiscal year.
The program experienced continued significant growth and success in FY03. As of June 30, we were meeting the college savings needs of nearly 156,000 families nationwide with over $865 million in assets under management.
Unfortunately the most significant event of the year for the program was discovered after the close of the fiscal year, when New York Attorney General Elliot Spitzer announced a widespread investigation into trading practices in the mutual fund industry, including Strong Funds. As you know, Strong serves as manager for the EDVEST program. We will report on the developments of this issue in next year's annual report.
The College Savings Program Board, EDVEST staff and I look forward to continued growth with quality service to participants in this exciting program. If you have any questions regarding the EDVEST Annual Report, please contact Marty Olle at 264-7886.
Sincerely,
Jack C. Voight
State Treasurer
State of Wisconsin
Investment Board
December 22, 2003
The Honorable, The Legislature:
S532
Annually under s.
25.17(14g), Stats., the Investment Board submits a report to the Legislature on investment goals and long-term strategies. As we have done the past three years, I am writing to advise you that we plan to submit the report in February. Although this will be after the December 31 due date, for the reasons noted below, it will enable us to provide a more complete and informative report to you.
The Board of Trustees will consider recommendations on investment strategies and asset allocations made by staff and outside experts at the January meeting. We believe it is helpful to reflect the outcome of those discussions in our reports to you. In addition, we will include in the report the effect of the market's resurgence on the trust funds in 2003 and steps we have taken to earn the optimum returns during the volatile markets of the past few years.
The report we submit in February will also include the performance assessment required under s.
25.17(14m). As in past years, combining the two reports will make it easier to understand the relationship between our strategies and our investment results.
Please feel free to contact me if you have any questions or concerns.
Sincerely,
David C. Mills
Executive Director
State of Wisconsin
December 22, 2003
The Honorable, The Senate:
I respectfully request that I be added as a cosponsor to the following bill: Senator Kedzie's Senate Bill 346, relating to allowing an individual income tax deduction for certain amounts contributed to any section 529 college tuition program.
Sincerely,
Karl Van Roy
State Representative
State of Wisconsin
Department of Administration
December 15, 2003
The Honorable, The Legislature:
This report is transmitted as required by sec. 20.002(11)(f) of the Wisconsin Statutes, (for distribution to the appropriate standing committees under sec. 13.172(3) Stats.), 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 November 2003.
On November 1, 2003, the Agricultural Chemical Cleanup Fund cash balance closed at its monthly low of a negative $119.0 thousand. The negative balance continued through November 30, 2003, when the balance closed at a negative $115.0 thousand. The negative balance was due to the difference in the timing of revenues and expenditures.
The Agricultural Chemical Cleanup Fund shortfall was not in excess of the statutory interfund borrowing limitation 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,
Marc J. Marotta
Secretary
Referred to the joint committee on Finance.
State of Wisconsin
Ethics Board
December 23, 2003
The Honorable, The Senate:
The following lobbyists have been authorized to act on behalf of the organizations set opposite their names.
For more detailed information about these lobbyists and organizations and a complete list of organizations and people authorized to lobby the 2003 session of the legislature, visit the Ethics Board's web site at
http://ethics.state.wi.us
Broydrick, Cynthia Aurora Health Care Inc
Carbone, Paul Robert W Baird and Company Inc
Chandler, Richard Wisconsin Energy Corporation
Kniffin, Kevin AFT - Wisconsin
Theo, Michael Wisconsin Energy Corporation
Tierney, Jodie Wisconsin Energy Corporation
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 organizations that employ lobbyists.
Sincerely,
R. Roth Judd
Director
State of Wisconsin
Ethics Board
December 30, 2003
The Honorable, The Senate:
The following lobbyists have been authorized to act on behalf of the organizations set opposite their names.
For more detailed information about these lobbyists and organizations and a complete list of organizations and people authorized to lobby the 2003 session of the legislature, visit the Ethics Board's web site at
http://ethics.state.wi.us
Sholty, J. Cameron Wisconsin Citizens for a Sound Economy
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 organizations that employ lobbyists.
Sincerely,
R. Roth Judd
Director
State of Wisconsin
Ethics Board
January 6, 2005
The Honorable, The Senate:
The following lobbyists have been authorized to act on behalf of the organizations set opposite their names.
For more detailed information about these lobbyists and organizations and a complete list of organizations and people authorized to lobby the 2003 session of the legislature, visit the Ethics Board's web site at
http://ethics.state.wi.us
Ciske, Thom Fox Cities Chamber of Commerce & Industry
