Department of Administration
December 30, 2009
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 November 2009.
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On November 1, 2009, the Injured Patients and Families Compensation Fund cash balance closed at a negative $28.2 million. This negative balance continued through November 30, 2009, when the fund's cash balance closed at a negative $20.6 million. The Injured Patients and Families Compensation Fund cash balance reached its intra-month low of a negative $28.4 million on November 13, 2009. 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 November 1, 2009, the Utility Public Benefits Fund cash balance closed at a negative $8.2 million. This negative balance continued through November 30, 2009, when the fund's cash balance closed at a negative $22.6 million (its intra-month low). The negative balance was due to the difference in the timing of revenues and expenditures.
On November 1, 2009, the Permanent Endowment Fund cash balance closed at a negative $2.0 million. This negative balance continued through November 30, 2009, when the fund's cash balance closed at a negative $2.0 million. The negative balance was due to the difference in the timing of revenues and expenditures.
On November 1, 2009, the Workers Compensation Fund cash balance closed at a negative $2.3 million. This negative balance continued through November 30, 2009, when the fund's cash balance closed at a negative $2.4 million (its intra-month low). The negative balance was due to the difference in the timing of revenues and expenditures.
On November 24, 2009, the Medical Assistance Trust Fund cash balance closed at a negative $6.6 million (its intra-month low). This negative balance continued through November 30, 2009, when the fund's cash balance closed at a negative $5.2 million. The negative balance was due to the difference in the timing of revenues and expenditures.
On November 1, 2009, the Petroleum Inspection Fund cash balance closed at a negative $2.7 million. This negative balance continued through November 20, 2009, when the fund's cash balance closed at a positive $2.0 million. The Petroleum Inspection Fund cash balance reached its intra-month low of a negative $3.7 million on November 19, 2009. The negative balance was due to the difference in the timing of revenues and expenditures.
The Injured Patients and Families Compensation Fund, Utility Public Benefits Fund, Permanent Endowment Fund, Workers Compensation Fund, Medical Assistance Trust Fund, and Petroleum Inspection 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 joint committee on Finance.
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State of Wisconsin
Office of the Governor
January 4, 2010
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Glaser
, Robert,
of Johnson Creek, as a member of the Labor and Industry Review Commission, to serve for the term ending March 1, 2015.
Respectfully Submitted,
JIM DOYLE
Governor
Read and referred to committee on Labor, Elections and Urban Affairs.
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The committee on Commerce, Utilities, Energy, and Rail reports and recommends:
Relating to the approved version of REScheck software used to show compliance with uniform dwelling code thermal envelope requirements.
No action taken.
Jeffrey Plale
Chairperson
