Committee on Veterans and Military Affairs
__________________
A345
Referral of Agency Reports
State of Wisconsin
Department of Administration
Department of Natural Resources
Madison
July 29, 2009
To the Honorable, the Legislature:
Environmental Improvement Fund (EIF) program legislation (s.
281.59 (3)(bm)s, Wis. Stats.) requires the Department of Natural Resources and the Department of Administration to submit to the Legislature and to the State Building Commission the final version of the EIF Biennial Finance Plan following enactment of the biennial budget. The purpose of the Plan is to provide information on loan, loan subsidy and bonding levels for program operations in the 2009-2011 biennium.
If you have any questions regarding the Biennial Finance Plan, please contact Mary Rose Teves at 267-7683 or Michael Wolff at 267-2734.
Sincerely,
Mary Rose Teves
Acting Director
Bureau of Community Financial Assistance
Department of Natural Resources
Frank R. Hoadley
Capitol Finance Director
Department of Administration
Referred to committee on Natural Resources.
__________________
State of Wisconsin
Department of Administration
Madison
July 31, 2009
To the Honorable, the Legislature:
This report is transmitted as required by s.
20.002 (11)(f), Wisconsin Statutes, (for distribution to the appropriate standing committees under s.
13.172 (3), Wisconsin Statutes) 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 cash balances during the month of June 2009.
On June 2, 2009, the General Fund cash balance closed at a negative $58.2 million. This negative balance continued through June 30, 2009, when the fund's cash balance closed at a negative $147.4 million. The General Fund cash balance reached its intra-month low of a negative $1.0 billion on June 15, 2009. The negative balance was due to the difference in the timing of revenues and expenditures.
On June 1, 2009, the Injured Patients and Families Compensation Fund cash balance closed at a negative $85.9 million (its intra-month low). This negative balance continued through June 30, 2009, when the fund's cash balance closed at a negative $77.1 million. The negative balance was due to the transfer of $200 million to the Medical Assistance Trust Fund per
2007 Wisconsin Act 20, and the pending liquidation of fund securities necessary to offset this shortfall.
On June 1, 2009, the Medical Assistance Trust Fund cash balance closed at a negative $140.8 million. This negative balance continued through June 30, 2009, when the fund's cash balance closed at a negative $352.2 million (its intra-month low). The negative balance was due to the difference in the timing of revenues and expenditures.
On June 1, 2009, the Utility Public Benefits Fund cash balance closed at a negative $8.3 million (its intra-month low). This negative balance continued through June 30, 2009, when the fund's cash balance closed at a negative $162 thousand. The negative balance was due to the difference in the timing of revenues and expenditures.
On June 1, 2009, the Hospital Assessment Fund cash balance closed at a negative $5.4 million (its intra-month low). This negative balance continued through June 2, 2009, when the fund's cash balance closed at a positive $24.7 million. The negative balance was due to the difference in the timing of revenues and expenditures.
The General Fund, Injured Patients and Families Compensation Fund, Medical Assistance Trust Fund, Utility Public Benefits Fund, and Hospital Assessment Fund shortfalls were not in excess of the statutory interfund borrowing limitations 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, and as a result, the funds requiring the use of the authority will effectively bear the interest cost.
Sincerely,
Michael L. Morgan
Secretary
Referred to committee on Ways and Means and joint committee on Finance.
