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Projected Budget Surplus grows to $6.6 Billion
By Dee Pettack | November 21, 2022
From WisPolitics.com …The Evers administration now expects a nearly $6.6 billion budget surplus to end the fiscal year June 30, well above previous expectations that it would come in north of $5 billion.Providing the first look at the 2023-25 budget, the Department of Administration today said it expects an additional $1.5 billion in revenue growth over the two-year period.Meanwhile, state agencies have requested an increase of $3.6 billion in new general purpose revenue over the 2023-25 biennium.Between the projected surplus and the expected revenue growth, the state could fund every single agency request and still have $4.4 billion left over in the general fund.The report also noted the state has more than $1.7 billion in its rainy day fund.See the report here.
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