Following the Department of Revenue report in August on a $281 million tax revenue shortfall for the end of FY14 (June 30, 2014) the Legislative Fiscal Bureau (LFB) has re-estimated the “structural deficit” going into the 2015-17 biennium. The structural deficit is a measure of how general fund tax collections in the current 2013-15 budget […]
Structural Deficit Pegged at $1.8 Billion but Fluctuating
Date Thu, Sep. 18, 2014 - 11:17am By Hamilton
Agency Budget Requests Submitted to DOA
Date Thu, Sep. 18, 2014 - 11:14am By Hamilton
This week, state agency budget requests for the 2015-17 biennial budget were due. The Department of Administration (DOA) and the Governor’s Office will now spend the several months reviewing agency requests and developing recommendations for the Governor on which request items should be included in the next budget bill. Consistent with budget directions issued to […]
$281 Million Tax Revenue Shortfall
Date Fri, Sep. 5, 2014 - 8:53am By Hamilton
The 2015-17 biennial budget process officially got underway in July with the issuance of budget instructions to state agencies. The Governor’s instructions are clear and convey the message that agency requests are to be limited to cost-to-continue or zero increase in current funding levels. Agency requests are due September 15th and are subsequently reviewed by […]
Hearing Held on Aircraft Tax Exemptions
Date Fri, Nov. 22, 2013 - 11:29am By Hamilton
On November 21, the Assembly Committee on Ways and Means held a public hearing on Assembly Bill 438, which would expand the existing aircraft sales and use tax exemption. Discussion of the bill starts at the 27 minute mark in this video from WisconsinEye. Supporters say the bipartisan bill would benefit companies like Gulfstream […]
UW System Audit Evaluates Funding Reserves
Date Wed, Nov. 20, 2013 - 12:19am By Hamilton
During this spring’s budget hearings, it was revealed that the University of Wisconsin System had large cash balances sitting in reserve. In response, the legislature froze tuition for two years and directed the Legislative Audit Bureau (LAB) to audit the UW System’s program revenue balances. LAB found that the UW System’s program revenue balances totaled […]
Gov. Walker Proposes $100 Million in Property Tax Relief
Date Thu, Oct. 10, 2013 - 2:39pm By Hamilton
Gov. Walker has issued an executive order calling a special session of the legislature to quickly pass a property tax relief bill. Republican leaders say the $100 million investment in property tax relief comes from higher than expected growth in state revenue and prudent fiscal management. On October 10, 2013, Gov. Scott Walker (R-Wisconsin) along […]
State May Owe Feds Medicaid Money
Date Tue, Oct. 8, 2013 - 12:54pm By Hamilton
A federal audit shows the Wisconsin Department of Health Services (DHS) did not properly document charges for services at 27 residential care centers serving troubled youth from October 2004 to September 2006. The federal inspector general is recommending that Health and Human Service (HHS) officials follow up on the audit by requesting a $22.8 million […]
Data Indicates State Fiscal Picture Improving
Date Mon, Sep. 16, 2013 - 8:46pm By Hamilton
A number of recent reports show that Wisconsin is in better fiscal shape than it has been in the recent past. The Federal Reserve Bank of Philadelphia’s latest coincident economic index ranks Wisconsin among the best states in the nation for the second consecutive month and the Wisconsin Dept. of Revenue announced that General Purpose […]
Wisconsin Tax Reform Update with DOR Sec. Chandler
Date Thu, Aug. 22, 2013 - 8:01am By Hamilton
Taxes are a hot topic in Wisconsin, particularly since several reforms were included in the state budget. Wisconsin Manufacturers & Commerce’s Director of Tax & Transportation Policy, Jason Culotta, discussed the details of some of those budget reforms with Rick Chandler, Secretary of the Wisconsin Department of Revenue, in this video from WMC:
Memos Provide a Closer Look at Interesting Budget Provisions
Date Thu, Aug. 22, 2013 - 7:25am By Hamilton
The Legislative Fiscal Bureau (LFB) has released three memos on the state budget that provide insight on issues of interest to all the fiscal hawks out there: changes to taxes and fees, changes to the use of certain funds, and policy items included in the budget. State Tax and Fee ModificationsThis memo identifies state tax […]