Attached are the "Projected Accrual Profit and Loss Statement" and "Year to Date Cash Balance Summary by Industry" for the period ending March 31, 1996.
Prison Industries had a cash deficit of $1.07 million through the third quarter ending March 31, 1996. Actual year-to-date expenditures were $10,955,600. These expenditures reflect approximately $685,000 in expenditures related to the previous fiscal year (FY 95) as directed by Joint Finance in an October 26, 1995 s.13.10 meeting.
Revenues for the same time period were $9,882,900. Prison Industries has adequate fixed assets, inventories and receivables to cover the overdraft.
The projected profit on the accrual basis for the fiscal year ending June 30, 1996 is $100,000.
Sincerely,
Michael J. SulLivan
Secretary, DOC
James R. Klauser
Secretary, DOA
__________________
State of Wisconsin
Department of Administration
Madison
April 30, 1996
To 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 o 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 March, 1996.
On March 14, 1996 the Wisconsin Health Education Loan Repayment Fund balance was -$3 thousand. This shortfall continued through the end of the month. The shortfall was due to the timing of revenues.
On March 19, 1996 the Petroleum Inspection Fund balance was -$875 thousand. This shortfall continued until March 20, 1996 when the balance reached +$7.9 million. The shortfall was due to the timing of revenues.
On March 25, 1996 the Wisconsin Lottery Fund balance was -$8.3 million. This shortfall continued through the end of the month. The shortfall was due to the timing of revenues.
The Wisconsin Health Education Loan Repayment Fund, Petroleum Inspection Fund, and Lottery Fund shortfalls were not in excess of the $400 million ceiling 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.
Sincerely,
james R. klauser
Secretary, DOA
__________________
State of Wisconsin
Adolescent Pregnancy Prevention Services Board
Madison
May 1, 1996
To the Honorable, the Assembly:
It is a pleasure to send you a copy of the Adolescent Pregnancy Prevention and Services Board's report of its activities under Wisconsin Statutes 46.935. This report covers both the projects that the Board funded under this legislation and recommendations for improving coordination and collaboration among the state's teen pregnancy prevention programs.
If you should have any questions or need more information, please don't hesitate to call.
Sincerely,
Eileen D. Mershart
Chair
Dana Alder
Administrator
__________________
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State of Wisconsin
Department of Administration
Madison
May 6, 1996
To the Honorable, the Legislature:
Under the requirements of s.
16.705(8) Wis. Stat., the Department of Administration must report to the Governor, the Joint Committee on Finance, the Joint Legislative Audit Committee, and the Chief Clerk of each house for distribution to the appropriate standing committee under s.13.172.(3), Wis. Stat., a report concerning the number, value and nature of contractual service procurements authorized for each agency during the preceding fiscal year. Enclosed is the report for fiscal year 1994-95.
This report follows, with few modifications, the format of the previous years' reports. The modifications are 1). The total number of contractual services purchase orders are specified for each state agency; and 2). Contractual Services are listed in alphabetical order rather than in numerical order. Both changes make the report easier for the reader to use.
The staff of the Department of Administration's State Bureau of Procurement are available to provide any further explanation or assistance.
Sincerely,
james r. klauser
Secretary, DOA
__________________
State of Wisconsin
Department of Administration
Madison
May 7, 1996
To the Honorable, the Assembly:
This report is transmitted as required by sec. 20.002(11)(f) of the Wisconsin Statutes, (for distribution to the appropriate standing committee 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 April, 1996.
On April 1, 1996 the Wisconsin Lottery Fund balance was -$9.6 million. This shortfall continued until April 25, 1996 when the balance reached $1.3 million. On April 29, 1996 the Wisconsin Lottery Fund balance was -$1.8 million. This shortfall continued through the end of the month. These shortfalls were due to the timing of revenues.
On April 30, 1996 the Wisconsin Health Education Loan Repayment Fund balance was -$3 thousand. This shortfall continued until April 30, 1996 when the balance reached $15 thousand. The shortfall was due to the timing of revenues.
The Wisconsin Lottery Fund and Health Education Loan Repayment Fund shortfalls were not in excess of the $400 million ceiling 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.
Sincerely,
James R. Klauser
Secretary, DOA
__________________
State of Wisconsin
Investment Board
Madison
May 13, 1996
To the Honorable, the Legislature:
Section
25.17(14r) of the Statutes, as created by
1996 Wisconsin Act 274, requires that the State of Wisconsin Investment Board (SWIB) submit a report to the Joint Committee on Audit, Joint Committee on Finance, and Chief Clerks of each House summarizing any change in the Board's investment policies, upon adoption of the change.
On May 1, 1996, the Board of Trustees adopted two changes to our investment guidelines, which are described in Attachments A and B and summarized below.
Global Fixed Income Portfolio (Attachment A)
The first change converts our internally managed international fixed income portfolio to a global fixed income portfolio. Attachment A replaces the current international fixed income guidelines. Currently, this portfolio may invest in fixed income securities of countries other than the U.S. The change adopted by the Board allows this portfolio to also invest in U.S. government securities and establishes new credit standards.
The new investment guidelines should result in less overall risk exposure for this portfolio. The risk and return of the portfolio will be compared regularly with an investment benchmark established and reviewed annually by the Benchmark Committee of the Board of Trustees.
Initial Public Offerings (Attachment B)
The second change (shaded on Attachment B) clarifies that any SWIB domestic equities portfolio may participate in initial public offerings regardless of the initial market capitalization of the issue. As the name indicates, initial public offerings (IPOs) are a corporation's first offering of stock to the public. Currently, each of SWIB's domestic equities portfolios has a particular focus that is based on market capitalization. Market capitalization ("cap") represents the value of a corporation as determined by the total market value of its common stock. SWIB manages its domestic equities in small-, mid- and large-cap portfolios.
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The addition to the guidelines permits each portfolio to participate in this growing segment of the market. This will enable SWIB to take full advantage of the IPO allocations available to us as a large investor.
Please feel free to contact me if you have any questions about these items.
Sincerely,
Patricia Lipton
Executive Director
__________________
State of Wisconsin
Department of Administration
Madison
May 24, 1996
To the Honorable, the Legislature:
Chapter 34, Laws of 1979, requires that when the Department of Administration maintains an office in Washington, D.C., 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)).
The report for the period January 1, 1996, through March 30, 1996, is attached.
Sincerely,
James R. Klauser
Secretary, DOA
__________________
State of Wisconsin
Claims Board
Madison
June 6, 1996
To the Honorable, the Assembly:
Enclosed is the report of the State Claims Board covering the claims heard on May 23, 1996.
The amounts recommended for payment under $5,000 on claims included in this report have, under the provisions of s.
16.007, Stats., been paid directly by the Board.
The Board is preparing the bill(s) on the recommended award(s) over $5,000, if any, and will submit such to the Joint Finance Committee for legislative introduction.
This report is for the information of the Legislature. The Board would appreciate your acceptance and spreading of it upon the Journal to inform the members of the Legislature.
Sincerely,
