Wisconsin Examiner

Year-End Report Shows Wisconsin Has $4.5 Billion Budget Surplus

Plus $1.9 billion in state 'rainy day' fund.

By , Wisconsin Examiner - Dec 23rd, 2024 10:38 am
Wisconsin Gov. Tony Evers address the Legislature in his 2024 State of the State message. (Baylor Spears | Wisconsin Examiner)

Wisconsin Gov. Tony Evers address the Legislature in his 2024 State of the State message. (Baylor Spears | Wisconsin Examiner)

Gov. Tony Evers announced Friday that Wisconsin’s Annual Comprehensive Financial Report, which is published by the Department of Administration, recorded a $4.5 billion positive balance in the state’s general fund at the end of the 2023-24 fiscal year.

In addition to the general fund, the state’s Budget Stabilization Fund — or “rainy day” fund — ended the fiscal year at the highest level in state history with a balance of $1.9 billion. The rainy day fund has set a new record every year since Evers took office in 2019.

“For thirty consecutive years, our state’s checking account ran at a deficit. Thanks to our efforts to pay down our state’s debt and work across the aisle to be good stewards of taxpayer dollars, Wisconsin has never had a deficit since I took office,” Evers said in a statement. “This is great news for the people of Wisconsin and our state’s economy.”

The balance in the general fund — a budget surplus — will likely be a major point of discussion next year as Evers and lawmakers begin work on the state’s next two-year budget.

Writing the state budget is a process that will take several months as Evers first gets to present his budget proposal to lawmakers, then the state’s Joint Finance Committee will write its own version. The budget bill will need to pass the Senate and Assembly before going to Evers to be signed.

“As we begin the important work of deliberating our state’s next two-year budget, we have a responsibility to keep staying well within our means while still investing in needs that have long been neglected,” Evers said. “We must continue to make the smart, strategic investments we have for the last five years to maintain our economic momentum and ensure Wisconsin’s continued stability and success.”

Wisconsin’s annual financial report records $4.5 billion budget surplus was originally published by Wisconsin Examiner.

Comments

  1. Ryan Cotic says:

    Hopefully these corrupt poiticians finally cut taxes and return the money to the taxpayers.

  2. mpbehar says:

    As a senior citizen now on a fixed income, I DON’T want tax refunds. Education, child care, older adult programs, public transportation, are some of the areas that need remediation. However, Wisconsin’s legislative mandates are rarely accompanied by increased state funding, and Milwaukee County taxpayers always pay more into the State than we receive back for essential services and programs. No thanks to Republican legislators, who have often been distainful of Milwaukee County.

    Ryan Cotic: which corrupt politicians do you speak of, and why haven’t their constituents voted them out of office?

  3. Mingus says:

    Local residents should not have to have a vote every time their County, municpal, and school budgets come up short of expenses. As the above comment mentioned, the State needs to adequately fund local services. There needs to be an amendment to the State constitution that demands an approval of the voters for taxpayer funded giveaways promoted by Republican legislators like Foxconn. Most often, the amount of money “returned to the taxpayer” for a family by Republicans is just enough to go out for pizza and beer.

  4. mkeumkenews09 says:

    Wow, $4.5 Billion surplus, almost 6 – 8 weeks worth of money to run the state.

    When the next recession hits, everyone will be upset that the state wasn’t more prepared for the recession and hadn’t put more money aside as a buffer.

  5. gerrybroderick says:

    I’m breathlessly awaiting Mr. Cotic’s response to mpbehar’s question. When the names of those ‘corrupt politicians’ are finally revealed, perhaps we could all gather round the town square for a good old fashioned lynching. After all justice is supposed to be swift. Right? And that would spare us the cost trials, appeals and all that other nonsense.

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