« Capitol Update April 16, 2024 | Home | Capitol Update – Fall Election Filings »
Capitol Update May 23, 2024
By Wisconsin School Administrators Alliance staff | May 23, 2024
General Fund Report
Below is a summary from the Wheeler Report of the most recent General Fund for 2023-25 and 2025-27:
According to the most recent General Fund Budget memo from the Legislative Fiscal Bureau, the State of Wisconsin is expected to end the 2023-25 fiscal year with just over $3 billion. The memo and corresponding tables highlight:
- The “base year” for the construction of the 2025-27 budget gross balance is expected to be $3.1 billion.
- The net appropriations exceed revenues by $664 million in 2024-25, yet the memo says, “The -$664 million becomes $3.1137 million when the $3,801 million opening balance is considered.”
- For 2025-26, the general fund would have an estimated balance of $2,585 million, and in 2026-27, a balance of $2,085 million.
- For 2025-26, net appropriations ($22,679 million) exceed revenues ($22,237 million) by $442 million.
- For 2026-27, net appropriations ($22,600 million) exceed revenues ($22,105 million) by $495 million.
- The $2.085 million balance at the end of the biennium is due to the $3,137 million opening balance.
DPI End-of-Session Memo
The State Senate met one additional time to vote to override several of the bills vetoed by the Governor. Unlike the State Senate, the State Assembly did not have enough votes to override the governor’s vetoes. The Legislature has adjourned for the remainder of the year and will return with many new faces in January 2025. DPI issued the end-of-session memo with summaries of signed bills related to education and links to supporting documents.
2023-24 Enacted Legislation Affecting Schools | Wisconsin Department of Public Instruction
As always, please let me know if you have any questions.
Topics: SAA Latest Update | No Comments »
Comments are closed.