George Lightbourn
Secretary
Referred to committee on Ways and Means.
__________________
State of Wisconsin
Department of Administration
Madison
October 25, 2002
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 September 2002.
On September 1, 2002, the General Fund cash balance was negative $151.6 million. The negative balance continued until September 13, 2002, when the balance closed at a positive $74.5 million. On September 16, 2002, the General Fund cash balance again fell negative, and closed at a monthly low balance of negative $292.6 million. The negative balance continued until September 20, 2002, when the balance closed at a positive $24.4 million. The negative balance was due to the difference in the timing of revenues and expenditures.
The General Fund's negative cash balances were not in excess of the statutory interfund borrowing limitation 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,
George Lightbourn
Secretary
Referred to committee on Ways and Means.
__________________
State of Wisconsin
Department of Revenue
Madison
October 29, 2002
To the Honorable, the Assembly:
In accordance with section 71.55 (10)(e), Wis. Stats. (1999-00), I am enclosing copies of the Department of Revenue reports on distribution of enrollment cards for the Wisconsin State Medical Society "Partnercare" program.
Sincerely,
Richard G. Chandler
Secretary
Referred to committee on Aging and Long-Term Care.
__________________
State of Wisconsin
Department of Administration
Madison
October 30, 2002
To the Honorable, the Legislature:
Included with this correspondence, I am submitting the report of the Department of Administration, Division of Gaming (Gaming), for the first quarter of fiscal year 2003 (July 1, 2002 through September 30, 2002). As required by s.
562.02 (1)(g), Wis. Stats., the attached materials contain pari-mutuel wagering and racing statistical information, as well as the revenues for the program areas of Racing, Charitable Gaming, Bingo and Indian Gaming.
A938
If you have any questions or comments regarding this report, please do not hesitate to contact Rachel Meek at (608) 270-2535.
Sincerely,
F. Scott Scepaniak
Administrator
Referred to committee on State Affairs.
__________________
Agency Reports
State of Wisconsin
Department of Administration
Madison
October 15, 2002
To the Honorable, the Legislature:
This report presents statements of fund Condition and operations (budgetary basis) of the State of Wisconsin for the fiscal year ended June 30, 2002. This satisfies the requirements of sec. 16.40 (3), Wisconsin Statutes. Displayed are major sources of revenues and major categories of expenditures for the General Fund and other funds compared to the prior year.
The General Fund has an undesignated balance of $53.8 million as of the end of the fiscal year. This is $181.3 million lower than the $235.1 million estimate that was projected in the final Chapter
20 fund condition statement. The lower balance was the result of lower than expected tax revenues.
General-purpose revenue taxes were $10.020 billion compared to $ 10.063 billion in the prior year, a decrease of $43 million or 0.4 percent. This decrease is the result of reductions in income tax rates and other changes to state tax laws made in
1999 Wisconsin Act 9 combined with a general slowdown in the economy. General-purpose revenue expenditures, excluding fund transfers, were $11.259 billion compared to $11.078 billion in the prior year, an increase of $18l.0 million or 1.6 percent.
General-purpose revenue spending increases in fiscal year 2002 were largely driven by increases in three areas: School Aids increased by $139.6 million (3.2 percent), Medical Assistance increased by $77.3 million (7.8 percent), and Corrections increased by $14.9 million (1.9 percent) overall.
In fiscal year 2002, the State of Wisconsin continued to devote the major share of state tax collections to assistance to local school districts, municipalities and counties. Local assistance accounted for 60.3 percent of total general purpose revenue spending. Aid payments to individuals and organizations represented 16.8 percent of total general purpose revenue expenditures. The University of Wisconsin accounted for 8.6 percent of total general purpose revenue spending and state operations spending for all other state agencies accounted for 14.3 percent of the total.
The State of Wisconsin expects to publish its comprehensive annual financial report in December of 2002. The report will be prepared under generally accepted accounting principles.
Respectfully submitted,
George Lightbourn
Secretary
William J. Raftery, CPA
State Controller
