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Evers’ Administration Final Accounting for 2019-20

By John Forester | October 16, 2020

From WisPolitics.com . . .

The Evers administration’s final accounting of 2019-20 shows the general fund finished the fiscal year with $89.2 million less than originally expected when the two-year budget was signed last summer.

That figure accounts for all of the spending in legislation that was signed during the fiscal year, the revised revenue estimates due to the COVID-19 pandemic, and the savings measures Gov. Tony Evers ordered as the virus spread.

But the annual fiscal report shows the general fund with a balance of just under $1.2 billion as of June 30. It is the largest ending balance for a fiscal year in at least two decades, according to today’s report.

The report is also the latest sign the state’s general fund was largely able to weather a turbulent fourth quarter in the fiscal year following the guv’s stay-at-home orders and a drop in some economic activity due to COVID-19.

The next piece of the state’s fiscal picture will be released in a month as the Department of Administration provides new revenue estimates for 2020-21. That report also will pair up agency requests with tax collection projections for the 2021-23 budget. WisPolitics.com reported last month agencies had already requested a net increase of $755 million in general purpose revenue. That figure didn’t include the Department of Public Instruction’s request for K-12 aids, which the agency plans to submit early next month.

The guv’s office and the Joint Finance co-chairs didn’t immediately respond to requests for comment on today’s report.

Read the report here.

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