Wisconsin will soon be making its largest deposit ever into the state’s rainy day fund. The Department of Administration says Wisconsin will deposit just under $109 million the fund, the largest contribution in state history and the first time the state has put money into the fun in consecutive years.
A fiscal report from DOA indicates the state finished its fiscal year at the end of June with a positive fund balance of over $342 million, which was largely the result of state tax collections exceeding expectations and efforts to reduce spending in the last state budget.
Governor Scott Walker says the news is a sign the state is managing its budget wisely and will avoid burying the next generation under a mountain of crippling debt.