Relating to: state finances and appropriations, constituting the executive budget act of the 2011 legislature.
Assembly Substitute Amendment 1 adoption:
Ayes: 12 - Representatives Vos, Meyer, Strachota, LeMahieu, Nygren and Kleefisch; Senators
Darling, Olsen, Harsdorf, Grothman, Leibham and Hopper.
Noes: 4 - Representatives Grigsby and Shilling;
Senators Taylor and Jauch.
Passage as amended:
Ayes: 12 - Representatives Vos, Meyer, Strachota, LeMahieu, Nygren and Kleefisch; Senators
Darling, Olsen, Harsdorf, Grothman, Leibham and Hopper.
Noes: 4 - Representatives Grigsby and Shilling;
Senators Taylor and Jauch.
To calendar pursuant to Assembly Rule 93.
Robin Vos
Assembly Chairperson
Joint Committee on Finance
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Executive Communications
State of Wisconsin
Office of the Governor
Madison
June 13, 2011
To the Honorable Members of the Assembly:
The following bill, originating in the Assembly, has been approved, signed and deposited in the office of the Secretary of State:
Bill Number Act Number Date Approved
Assembly Bill 226June 10, 2011
Respectfully submitted,
Scott Walker
Governor
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Agency Reports
State of Wisconsin
Legislative Audit Bureau
Madison
June 10, 2011
To the Honorable, the Assembly:
As required by s.
13.94 (1)(dm), Wis. Stats., we have completed our annual financial audit of State Fair Park. We issued an unqualified opinion on the financial statements State Fair Park prepared for fiscal year (FY) 2009-10, and we have continued to monitor efforts to improve its financial performance.
In FY 2009-10, State Fair Park's operating revenue exceeded expenditures by $1.6 million on a cash basis, largely because of positive operating results generated by the Wisconsin Exposition Center. These results, along with $1.4 million in one-time funding received as part of the December 2009 acquisition of the Wisconsin Exposition Center, allowed State Fair Park to reduce the cash deficit in its program revenue operating appropriation to $4.6 million as of June 30, 2010.
State Fair Park has begun to take steps to address concerns we raised in our prior audit regarding inadequate policies and procedures governing in-kind support, such as equipment or advertising, that it solicits from businesses in exchange for tickets to the Wisconsin State Fair and advertising exposure on the fairgrounds. However, because necessary changes were not fully implemented during FY 2009-10, we continue to report this weakness in internal controls, along with another financial reporting concern, in the Report on Internal Control and Compliance included in this report.
Finally, we note that operations of the Wisconsin Exposition Center, debt service payments related to the Exposition Center and the Pettit National Ice Center, and a continuing legal dispute with a former racetrack promoter may affect State Fair Park's financial condition in the future and will warrant close attention by management and staff.
We appreciate the courtesy and cooperation extended to us by staff of State Fair Park. A response from the Chief Executive Officer follows the appendix.
Respectfully submitted,
Janice Mueller
State Auditor