A new report from the state Department of Administration shows Wisconsin ended its fiscal year in June with its second highest balance since the year 2000.
Lower than expected expenses helped to offset a one-percent drop in tax collections for the state, allowing Wisconsin to finish the fiscal year with a balance of just under $517 million. The figure is about $207 million less than what lawmakers estimated when they passed the budget, although the state’s expenses came in about $165 million less than projected.
Governor Scott Walker’s office touted the numbers as a sign that his sound fiscal management “put Wisconsin in a strong position moving forward.”
Democrats were quick to point out though that the state is still facing a potential shortfall of $1.8 billion in the next biennial budget. Senate Democratic Leader Chris Larson (D-Milwaukee) accused the governor and Republicans of being in “outright denial about the budget crisis they’ve created in our state.”