Agency Reports
State of Wisconsin
Department of Revenue
Madison
November 30, 1999
To the Honorable, the Legislature:
Enclosed is an Order of the Department of Revenue Adopting an Emergency Rule relating to the assessment of agricultural property as affected by
1995 Wisconsin Act 27. A copy of this emergency rule is being sent to you pursuant to the requirements specified in s.
227.24(3), Wis. Stats. A certified copy of the order has been filed in the Office of the Secretary of State and the Office of the Revisor of Statutes, as required by s.
227.20, Wis. Stats.
This emergency rule will become effective upon publication in the official state newspaper, on November 30, 1999. It will remain in effect for 150 days after publication, when a permanent rule is expected to be in place.
Copies of this letter and the emergency rule order are also hereby being transmitted to the Chief Clerks of the Senate and the Assembly with the request that the code, or a notice of it, be published in the Journal of each house to make the rule amendment known to persons who will be affected by it.
The Department's fiscal estimate of the rule is also enclosed.
Sincerely,
Cate Zeuske
Secretary of Revenue
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State of Wisconsin
Legislative Audit Bureau
Madison
December 13, 1999
To the Honorable, the Legislature:
We have completed an audit of the financial statements of the State Life Insurance Fund for the period January 1, 1996 through December 31, 1998, as required by s.
13.94 (1)(de), Wis. Stats. The Fund, which was created in 1911 to provide low-cost life insurance policies to Wisconsin residents, is administered by the Office of the Commissioner of Insurance. As of December 31, 1998, the Fund had 31,033 life insurance policies in effect, and total life insurance in force of approximately $226 million. The Fund is subject to the same regulatory requirements as any life insurance company licensed to operate in Wisconsin, as well as to other specific statutory restrictions, such as a prohibition on advertising and maximum coverage to any insured person of $10,000.
The State Life Insurance Fund prepares its financial statements using insurance accounting practices prescribed by the Commissioner of Insurance. We found the regulatory-based financial statements to be fairly presented in accordance with these accounting practices. The Fund, which is self-funded through premiums and investment earnings, returned between $3.6 million and $3.8 million to policyholders as dividends in each of the three years we audited. Statutes require that any fund surplus that accumulates be maintained at a level between 7 and 10 percent of fund assets, so far as is practically possible. The Fund's surplus-to-asset ratio was 10.1 percent as of December 31, 1998, which slightly exceeds the statutory range.
We appreciate the courtesy and cooperation extended to us by the staff of the Office of the Commissioner of Insurance.
Respectfully submitted,
Janice Mueller
State Auditor
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Southeast Wisconsin
Professional Baseball Park District
Milwaukee
December 16, 1999
To the Honorable, the Legislature:
Enclosed please find the Miller Park Monthly Progress Report for the month of November 1999 for your review and consideration. As the enclosed report indicates, Miller Park continues to develop with the District Board's objectives of building the premier baseball facility in the country; scheduled for play on Opening Day 2001; within budget; and with meaningful community participation.
As always, please feel free to contact me if you should have any question or comments regarding the enclosed report.
Very truly yours,
Michael R. Duckett, P.E., R.l.s.
Executive Director
