State of Wisconsin
Senate
August 8, 2007
The Honorable, The Senate:
Pursuant to 2007 Assembly Joint Resolution 59, I am appointing Senator Ted Kanavas to serve on the committee of conference on Senate Bill 40 for the meeting scheduled for Thursday, August 9, 2007.
Sincerely,
Scott Fitzgerald
Senate Republican Leader
State of Wisconsin
Office of the Governor
August 9
, 2007
To the Honorable, the Senate:
The following bill(s), originating in the Senate, have been approved, signed and deposited in the office of the Secretary of State:
Bill Number Act Number Date Approved
Senate Bill 122 Act 19
August 8
, 2007
Respectfully submitted,
JIM DOYLE
Governor
State of Wisconsin
Department of Administration
August 1, 2007
The Honorable, The Legislature:
In compliance with Wisconsin statute 16.548, please find the Wisconsin Office of Federal/State Relations quarterly report to be submitted to the Legislature for the Second Quarter of 2007. This report provides information on the activities of the office and the status of federal legislation of concern to the State of Wisconsin.
Please contact me if you have any questions about this material.
Sincerely,
Michael Morgan
Secretary
State of Wisconsin
Legislative Audit Bureau
August 1, 2007
The Honorable, The Legislature:
We have completed an evaluation of the State of Wisconsin Investment Board, as directed by s.
25.17(51m), Wis. Stats. As of December 31, 2006, the Investment Board managed a total of $88.4 billion in investments that included assets of the Wisconsin Retirement System, the State Investment Fund, and five smaller insurance and trust funds.
S307
The retirement funds provided mixed returns for periods ending December 31, 2005 and 2006. The Core Fund exceeded all of its benchmarks. The Variable Fund met or exceeded all of its benchmarks in 2005 but lagged its three- and five-year benchmarks at the end of 2006. We include a recommendation for the Investment Board to re-evaluate its policies and procedures for making decisions affecting the Variable Fund's performance.
The Core Fund's performance ranked in the middle in comparison to nine other public pension funds surveyed as of December 2006. A relatively lower allocation to private equity and real estate and underperformance of its domestic equities contributed to this ranking.
In past years, the Investment Board encountered difficulties in the management of private markets investments. It has made organizational, staffing, and procedural changes to address these concerns. Correspondingly, its private markets investments have provided strong returns in recent years.
The Investment Board manages two private markets portfolios with a Wisconsin emphasis. The Wisconsin private debt portfolio is providing solid returns. However, it is too early to assess the long-term success of the Wisconsin private equity portfolio, which was established in 2000.
We appreciate the courtesy and cooperation extended to us by the Investment Board. A response from the Board's Executive Director follows the appendices.
Respectfully submitted,
Janice Mueller
State Auditor
State of Wisconsin
Ethics Board
August 7, 2007
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 2007-2008 session of the legislature, visit the Ethics Board's web site at
http://ethics.state.wi.us/
Hughes, Todd Novo Nordisk Inc.
Landin, Jeffrey G. Wisconsin Paper Council
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
Executive Director
__________________
The committee on Labor, Elections and Urban Affairs reports and recommends:
Relating to charges for voter registration data.
No action taken.
Spencer Coggs
Chairperson
__________________
Chief Clerk Marchant, with unanimous consent, asked that the Senate adjourn until Tuesday, August 14, 2007.
Adjourned.
10:41 A.M.
