Relating to: creating an individual income tax checkoff for multiple sclerosis programs.
Passage.
Ayes, 5 - Senators
Roessler, Darling, Brown, Erpenbach and Carpenter.
Noes, 0 - None.
Carol Roessler
Chairperson
__________________
State of Wisconsin
April 26, 2005
The Honorable, The Senate:
I will be reappointing Mary Jo Baas to serve on the Wisconsin Women's Council. Her current term of service will expire on July 1, 2005. Upon her reappointment, Mrs. Baas will be serving until July 1, 2007. I am confident that her committment and service to the women of the State of Wisconsin will continue to grow. Her knowledge, experience and tenure will only add to the overall quality of the Council.
If you have any questions, please feel free to contact my office.
Sincerely,
ALAN J. LASEE
Senate President
State of Wisconsin
Joint Legislative Council
April 26, 2005
The Honorable, The Senate:
I am pleased to transmit to you the following reports to the 2005 Legislature on legislation introduced by the Joint Legislative Council:
RL 2005-01 Special Committee on Recodification of Chapter
45, Veterans
RL 2005-05 Special Committee on Recodification of Ch.
767, Stats., Actions Affecting the Family
RL 2005-06 Special Committee on Wisconsin's Transportation Network Infrastructure
RL 2005-11 Special Committee on Improving Wisconsin's Fiscal Management
I would appreciate your including this letter in the Journal for the information of the membership. Additional copies of these reports are available at the Legislative Council Staff offices, One East Main, Suite 401, or from our web page at
http://www.legis.state.wi.us/lc/
Sincerely,
TERRY C. ANDERSON
Director
State of Wisconsin
Ethics Board
May 3, 2005
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 2005 session of the legislature, visit the Ethics Board's web site at
http://ethics.state.wi.us
Brooks, Bryan City of Oak Creek
Brooks, Bryan IBM
Brooks, Bryan Sonic Foundry
Brooks, Bryan University of Phoenix
Christianson, Peter C Marshall & Ilsley Corporation
Elias, Nathan Northwestern Mutual
Foti, Steven Municipal Taxpayer Commission
Foti, Steven Wisconsin Hospital Association
Inc (WHA)
Johns, Jason E Delta Dental Plan of Wisconsin Inc
Johns, Jason E National Association of Theatre Owners of Wisconsin &
Upper Michigan
Johns, Jason E National Solid Wastes
Management Association
Johns, Jason E Oneida Tribe of Indians of Wisconsin
Johns, Jason E Wisconsin Alliance of Cities Inc
Koran, Michael Midwestern BioAg Inc
McCoshen, William J Northwestern Mutual
Petersen, Eric J Northwestern Mutual
Satterfield, Randy ATC Management Inc.
S191
Seitz, Robert American Council on Regulatory Compliance (ACRC)
Wagner, Burton Wisconsin Personal Services
Association Inc (WPSA)
Wenzler, Hilary Delta Dental Plan of Wisconsin Inc
Wenzler, Hilary Oneida Tribe of Indians of Wisconsin
Wenzler, Hilary Wisconsin Alliance of Cities Inc
Wenzler, Hilary Wisconsin State Reading
Association
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
State of Wisconsin
Department of Administration
April 28, 2005
The Honorable, The Legislature:
As required by s.
16.045(5) Wis. Stats., I am submitting the fourteenth
Wisconsin Gasohol and Alternative Fuel Use Report for distribution to the appropriate standing committees.
Should you or Legislative members have questions, please contact Steven K. Tryon, Assistant Administrator, Division of Energy, at 608-266-2035.
Sincerely,
MARC MAROTTA
Secretary
Referred to the committee on Natural Resources and Transportation.
State of Wisconsin
Investment Board
April 28, 2005
The Honorable, The Legislature:
As provided in section
25.17(14m) of the Statutes, attached is our annual report to the Legislature regarding investment goals, long-term strategies and performance. As a follow-up to our discussions with the Joint Legislative Audit Committee, this report also addresses a number of findings and recommendations in the Legislative Audit Bureau's November 2004 management review of SWIB.
Major observations about 2004:
• Assets under management grew from $69.1 billion at the end of 2003 to $74.7 billion as of December 31, 2004, an increase of $5.6 billion.
• The 12.8% return for the Fixed Retirement Trust Fund surpassed the 11.7% return for its performance benchmark in 2004. The Fund also exceeded its benchmark on a five-year and ten-year basis. The Fixed Fund is invested in a diversified mix of stocks, bonds, real estate and other assets. A fourth quarter surge in US stocks combined with strong returns from international markets, private equity and real estate contributed to the Fund's favorable return.
• The 12.7% return for the Variable Retirement Trust Fund trailed the 13.4% return for its performance benchmark in 2004. The Variable Fund invests in domestic and international stocks. An overweighting in small cap technology stocks, adverse developments for several pharmaceutical stocks, and earnings disappointments for several other mid cap and large cap stocks contributed to the Fund's under-performance in 2004. However, at year-end, the Variable Fund remained ahead of its five-year and
ten-year benchmarks.
• The 1.3% return for the State Investment Fund (SIF) slightly lagged the 1.4% return for its performance benchmark in 2004. The SIF was ahead of its five-year and ten-year
benchmarks at year-end. The SIF is a cash management fund for state agencies, local governments and the Wisconsin Retirement System.
• During fiscal year 2004, SWIB made over $684.3 million in new investments in Wisconsin companies. Wisconsin investments are subject to the same due diligence and fiduciary responsibility standards that apply to all other investments.
• Our total cost of management in 2004 was $156.7 million, the same as in 2003. Relative to assets, our total cost fell from 25 cents for each $100 managed in 2003 to 22 cents in 2004.
To take advantage of changing opportunities in the marketplace, SWIB must be more flexible than ever and able to leverage the strengths of our staff as well as those of our outside managers. We recently completed an extensive review to ensure that we are using internal and external resources cost effectively to achieve optimal net investment returns.
Our review: (1) compared SWIB's mix of portfolio management styles and net returns to those our peers; (2) modeled the potential effects on net returns and risk from alternative mixes of internal and external management and active and passive management; and (3) compared SWIB's budget and management authority to to that of our peers. Findings were presented to the Board earlier this month.
Overall, our review suggests that SWIB is generally well positioned in the use of internal and external resources and mix of active and passive management styles. However, we have identified a number of potential ways in which we could enhance our position. We are pursuing improvements in these areas. Several relate to topics raised in the LAB audit, and they are discussed in more detail in the attached report. I would welcome the opportunity to discuss them with you.
Please let me know if you have any questions or comments about the report.