E-Update - Budgeting For the Next Generation

Statement

By:  Scott Walker
Date: Nov. 30, 2012
Location: Unknown

Last week, the Department of Administration released revenue projections and provided an update on the current state budget. The State of Wisconsin is projected to start fiscal year 2013 with a $342.1 million balance, which is the largest opening balance since fiscal year 2001.

On top of the positive opening balance, we are projected to deposit $125 million into the state's rainy day fund. For the first time in history, Wisconsin will deposit funds into the rainy day fund in two consecutive fiscal years.

Heading into the next budget, we are in the unique position of having anticipated surpluses, increased revenue, and projected economic growth. I'm excited about the opportunities we have to build a better Wisconsin for the next generation.