Thursday, June 19, 1997
10:00 A.M.
Ninety-Third Regular Session
The Assembly met in the Assembly Chamber located in the State Capitol.
Representative Schafer in the chair.
The Assembly dispensed with the call of the roll.
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Assembly substitute amendment 1 to Assembly Bill 150 offered by committee on Campaign Finance Reform.
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Agency Reports
State of Wisconsin
Department of Administration
Madison
June 12, 1997
To the Honorable, the Legislature:
This report is required by sec. 20.002(11)(f) of the Wisconsin Statutes, (for distribution to the appropriate standing committees under sec. 13.172(3) Stats.), 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 balances during the month of May, 1997.
On May 1, 1997 the Wisconsin Health Education Loan Repayment Fund balance was -$3 thousand. This shortfall continued until May 28, 1997 when the balance reached $12 thousand. This shortfall was due to the timing of revenues.
On May 2, 1997 the University Trust Fund-Principal balance was -$302 thousand. This shortfall continued until May 5, 1997 when the balance reached $1.03 million. This shortfall was due to a delayed transfer to the fund.
On May 20, 1997 the Wisconsin Petroleum Inspection Fund balance was -$2.88 million. This shortfall continued until May 23, 1997 when the balance reached $6.98 million. This shortfall was due to the timing of revenues.
The Wisconsin Health Education Loan Repayment, University Trust-Principal and Petroleum Inspection Fund shortfalls were not in excess of the $400 million ceiling 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.
Sincerely,
Mark D. Bugher
Secretary, DOA
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Representative Foti moved that the Assembly stand adjourned until 10:00 A.M. on Tuesday, June 24.
The question was: Shall the Assembly stand adjourned?
Motion carried.
The Assembly stood adjourned.
10:01 A.M.
