To committee on Economic Development and Veterans and Military Affairs.
__________________
Pursuant to Senate Rule 17 (5), Senator Grothman added as a coauthor of
Senate Bill
103
.
__________________
Corrections In:
2011 SENATE
BILL
116
Prepared by the Legislative Reference Bureau
(June 2
, 2011)
1. Page 4, line 10: delete "Maintain" and substitute "The board shall maintain".
2. Page 4, line 14: delete "Designate" and substitute "The board shall designate".
3. Page 28, line 1: delete "September
partisan" and substitute "September".
__________________
State of Wisconsin
Government Accountability Board
May 24, 2011
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 2011-2012 session of the legislature, visit the Government Accountability Board's web site at
http://gab.wi.gov/.
Berndt, William Coalition For St. Croix River Crossing
Neitzel, Scott Madison Gas & Electric
Company
Thompson, Anna Medtronic, Inc.
Also available from the Wisconsin Government Accountability 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,
kevin kennedy
Director and General Counsel
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State of Wisconsin
Investment Board
May 25, 2011
The Honorable, The Legislature:
As required by section
25.17 (14m), WI Stats., I am submitting the 2010 Goals, Strategies and Performance Report for the State of Wisconsin Investment Board (SWIB). This report provides information about how SWIB invested the assets we manage and how the investments performed. The report primarily focuses on the Wisconsin Retirement System's (WRS) Core Trust Fund (CTF) and Variable Trust Fund (VTF), which comprised 94% of all assets we invested in 2010.
Following the worst down market since the Great Depression, the markets and the WRS both continued to rebound in 2010. The CTF returned 12.4%, exceeding its benchmark by 0.2%, and the VTF returned 15.6%, exceeding its benchmark by 0.3%. With the exception of real estate, all asset classes outperformed the markets.
The additional positions that SWIB secured in 2008 and 2009 played a key role in outperforming the markets. Because of those positions, SWIB was able to increase the amount of assets invested internally from 21% to 47% by the end of 2010. Because the cost of internal management is considerably less than external, SWIB saved approximately $13 million in 2010 in fees charged to the funds.
The WRS has a shared risk and reward feature whereby employees, retirees and employers share the investment gains and losses. The CTF's earnings or losses are smoothed over five years, while the VTF's are recognized for the year earned. As a result of the devastating losses in 2008, retirees saw a 2.1% reduction in 2009 in the CTF portion of their benefit, followed by further reductions in 2010 and 2011 of 1.3% and 1.2%, respectively.
Although the markets have made a significant recovery in the past two years, they remain volatile and no one can predict if the recovery will continue. To protect the funds in future down or flat markets, we are taking steps and implementing strategies, discussed in the report, to reduce our risk exposure and better prepare the funds for both good and bad markets.
Please let me know if you have any questions about the report or the markets in general.
Sincerely,
keith bozarth
Executive Director
Referred to joint committee on Audit.
Referred to joint committee on Finance.
__________________
State of Wisconsin
Public Service Commission
May 25, 2011
The Honorable, The Legislature:
The enclosed report on all Wisconsin holding companies and their impact on the operations of the Wisconsin public utilities within their holding company systems was prepared as required by Wis. Stat. 196.795(7)(ar) for distribution to the Legislature under Wis. Stat. 13.172(2).
If you have any questions or comments about the report, please contact Ms. Jodee Bartels of the Commission staff by telephone at (608) 267-9856 or by e-mail at
jodee.bartels@wisconsin.gov.
Sincerely,
sandra j. paske
Secretary
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State of Wisconsin
Department of Administration
May 31, 2011
The Honorable, The Legislature:
S317
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 April 2011.
On April 1, 2011, the Medical Assistance Trust Fund cash balance closed at a negative $192.2 million. This negative balance continued through April 30, 2011, when the fund's cash balance closed at a negative $211.0 million. The Medical Assistance Trust Fund cash balance reached its intra-month low of a negative $215.3 million on April 7, 2011.
On April 1, 2011, the Police and Fire Protection Fund cash balance closed at a negative $25.5 million (its intra-month low). This negative balance continued through April 30, 2011, when the fund's cash balance closed at a negative $15.6 million.
On April 1, 2011, the Democracy Trust Fund cash balance closed at a negative $901 thousand. This negative balance continued through April 30, 2011, when the fund's cash balance closed at a negative $901 thousand.
On April 7, 2011, the Environmental Fund cash balance closed at a negative $282 thousand. This negative balance continued through April 30, 2011, when the fund's cash balance closed at a negative $10.9 million (its intra-month low).
On April 6, 2011, the Lottery Fund cash balance closed at a negative $84 thousand. This negative balance continued through April 8, 2011, when the fund's cash balance closed at a positive $5.0 million. The Lottery Fund cash balance reached its intra month low of a negative $373 thousand on April 7, 2011.
The Medical Assistance Trust Fund, Police and Fire Protection Fund, Democracy Trust Fund, Environmental Fund, and Lottery Fund shortfalls were due to the difference in the timing of revenues and expenditures, 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,
mike huebsch
Secretary
Referred to joint committee on Finance.
__________________
State of Wisconsin
Government Accountability Board
June 1, 2011
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 2011-2012 session of the legislature, visit the Government Accountability Board's web site at
http://gab.wi.gov/.
Barhorst, Bettsey Madison Area Technical
College
Casper, Tim Madison Area Technical
College
Elsdon, Mark Pres House - Presbyterian
Student Center Foundation
Fonfara, Thomas Pres House - Presbyterian
Student Center Foundation
Gardner, Brent National Rifle Association of America
Handrick, Joe C & N Corporation
Kahn, Carrie Wisconsin Association of
Health Plans
Kussow, Michelle Wisconsin Health and
Educational Facilities Authority (WHEFA)
O'Connor, Alice Pres House - Presbyterian
Student Center Foundation
Potts, Michael Orion Energy Systems
Scholz, Brandon Wisconsin Health and
Educational Facilities Authority (WHEFA)
Venskus, Katherine Metropolitan Milwaukee
Association of Commerce
Webb, Terrance Madison Area Technical
College
Zastrow, Katja Anheuser-Busch Companies Inc
