Prison Industries had a cash deficit of $2,071,958 through the second quarter ending September 30, 1996. During each fiscal year Prison Industries purchases substantial inventory during the first quarter. The actual cash expenditure for the time period was $3,793,422.
Revenues for the same time period were $3,166,483. 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, 1997 is $125,000.
Sincerely,
Michael J. Sullivan
Secretary, Department of Corrections
James R. Klauser,
Secretary, Department of Administration
__________________
State of Wisconsin
Legislative Audit Bureau
Madison
November 27, 1996
To the Honorable, the Assembly:
We have audited the financial statements of ECB Radio and Television (public telecommunications entities operated by the Wisconsin Educational Communications Board) for the year ended June 30, 1996 and have issues our reports on these statements, dated November 22, 1996.
The audit was requested by the Educational Communications Board to fulfill the audit requirements of the Corporation for Public Broadcasting. The Corporation requires audited financial statements of public broadcasting entities and certification of these entities' non-federal revenue sources in determining future funding levels.
The audit reports include no major findings, conclusions, or recommendations.
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Copies of the audit reports have been distributed to members of the Joint Legislative Audit Committee and those required by law to receive copies. If you are interested in receiving copies of the audit reports, please contact our office and request report numbers 96-15 and 96-16.
Sincerely,
Dale Cattanach
State Auditor
__________________
State of Wisconsin
Legislative Audit Bureau
Madison
November 27, 1996
To the Honorable, the Assembly:
We have audited the financial statements of WHA Radio and Television (public telecommunications entities operated by the University of Wisconsin-Extension) for the year ended June 30, 1996 and have issues our reports on these statements, dated November 22, 1996.
The audit was requested by the University of Wisconsin-Extension to fulfill the audit requirements of the Corporation for Public Broadcasting. The Corporation requires audited financial statements of public broadcasting entities and certification of these entities' non-federal revenue sources in determining future funding levels.
The audit reports include no major findings, conclusions, or recommendations.
Copies of the audit reports have been distributed to members of the Joint Legislative Audit Committee and those required by law to receive copies. If you are interested in receiving copies of the audit reports, please contact our office and request report numbers 96-17 and 96-18.
Sincerely,
Dale Cattanach
State Auditor
