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Biennial Budget Documents
January 23, 2015 @ 4:33 PM
From the Wheeler Report:
The Legislative Fiscal Bureau has released a memo regarding the general fund revenue and expenditure projections. According to the memo, the administration’s November general fund condition statement shows an ending balance for the FY2014-15 budget at negative $132.1 million and the Fiscal Bureau shows a gross balance of negative $283.4 million. The difference is $151.3 million. Fiscal Bureau said the differences are:
• The estimated tax collections in the LFB memo are $173.5 million below the administration’s November 20 report;
• The departmental revenues are projected to be $2.7 million less than estimated by the administration;
• The net appropriations are estimated to be $24.9 million below the administration’s report (mainly attributed to a reduction of $18.4 million in debt service payments).
The full estimate can be found at http://legis.wisconsin.gov/lfb/publications/Revenue-Estimates/Documents/2015_01_23_Revenue%20estimates.pdf
November 21, 2014 @ 4:31 PM
Pursuant to s. 16.43, Wisconsin Statutes, the Department of Administration is submitting the Department of Revenue’s general purpose tax revenue estimates for the State’s biennial budget for fiscal years 2015-16 and 2016-17, as well as a summary of state agency budget requests. In addition, revenue estimates for the remainder of the current fiscal year 2014-15 have been included. Such revenue estimates are used to identify the funds that serve as the base for the biennial budget.