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