In completing our review, we interviewed Investment Board trustees and staff, Mr. Brogan, and the Attorney General; examined Investment Board and Office of the State Treasurer records; and reviewed Board minutes and correspondence.
We conclude the letter to Mr. Brogan was an overreaction by Investment Board staff that occurred in the period of heightened concern created by the Orange County, California bankruptcy. We believe that in the future, if concerns related to a possible run on the Fund arise, Investment Board staff should, first, take no action without obtaining sufficient information to determine that a threat to the Fund actually exists. Second, staff should inform the Board of staff concerns so that appropriate action can be discussed. Third, the Investment Board should not threaten litigation without consultation with the Attorney General. The Board has agreed that no such action will be taken in the future without the approval of the Attorney General.
If you have additional questions regarding this matter, please contact me.
Sincerely,
Dale CAttanach
State Auditor
__________________
Relating to compensation and conditions for the placement of utility facilities in railroad right-of-way.
Submitted by Public Service Commission.
Report received from Agency, May 23, 1995.
Referred to committee on Environment and Energy,
May 25, 1995.
Relating to district reporting of attendance and other participation in technical college courses or programs by secondary school students under the Wisconsin statutory provisions Relating to compulsory school attendance, post-secondary enrollment options and technical preparation programs.
Submitted by Technical College System Board.
Report received from Agency, May 25, 1995.
Referred to committee on Education and Financial Institutions, May 25, 1995
.
Relating to reporting the discharge of firearms.
Submitted by Department of Regulation and Licensing.
Report received from Agency, May 23, 1995.
Referred to committee on Business, Economic Development and Urban Affairs, May 25, 1995
.
__________________
By Charles Sanders, chief clerk.
Mr. President:
I am directed to inform you that the Assembly has passed and asks concurrence in:
Assembly Bill 130
__________________
Assembly Bill
130
Relating to: creating a juvenile justice code, granting rule-making authority, making appropriations and providing penalties.
By Representatives Ladwig, Krug, Gunderson, Prosser, Dobyns, Goetsch, Huebsch, Seratti, Nass, Grothman, Walker, Green, Handrick, Zukowski, Kreibich, Owens, Gard, Underheim, Lehman, Musser, Duff, Hahn, Silbaugh, Brancel, F. Lasee, Ainsworth, Vrakas, Ourada, Foti, Coleman, Powers, Klusman, Ott, Johnsrud, Brandemuehl, Kaufert, Freese, Porter, Urban, Olsen, Jensen, Otte, Schneiders, Harsdorf, Ward, Lazich, Skindrud, Kelso, Hutchison, Hoven, Lorge, Murat, Ziegelbauer, Ryba, Plache, Baumgart, Krusick, Robson, Vander Loop, Linton, Meyer, Reynolds, La Fave, Boyle, Kreuser, Grobschmidt, Carpenter and Notestein; cosponsored by Senators Panzer, C. Potter, Huelsman, Petak, Drzewiecki, Rude, Weeden, Farrow, Rosenzweig, Buettner, Fitzgerald, Schultz, Andrea, Breske and Clausing
.
Read first time and referred to committee on Judiciary.
__________________
Senator Rude, with unanimous consent, asked that the Senate adjourn until Tuesday, May 30 at 10:00 A.M..
Adjourned.
10:01 A.M.
