Legislative Fiscal Bureau (LFB) released its most recent estimate of Wisconsin’s general fund for the 2015-2017 biennium. LFB previously estimated the net general fund balance would have a $164 million surplus. In the updated estimate, LFB projects the surplus will be $70.2 million at the end of the biennium (June 30, 2017).
According to LFB, the smaller surplus is a result of:
- A decrease of $158.2 million in estimated tax collections;
- An increase in departmental revenues of $6.3 million;
- A decrease of $87.1 million in sum sufficient appropriation expenditures; and
- A $29.5 million decrease in estimated lapses to the general fund.