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UPCOMING HEARING:
Wednesday, September 2, 2015
10:00 aM
411 South
State Capitol
Madison, Wisconsin
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What's New
A Joint Legislative Audit Committee Hearing will be held on Wednesday, September 2, 2015. On the day of the hearing, a live broadcast can be accessed through this link.
Wisconsin Lottery — We provided an unmodified opinion on the Wisconsin Lottery's financial statements for FY 2013-14 and FY 2012-13. Lottery ticket sales increased from $566.1 million in FY 2012-13 to $568.8 million in FY 2013-14, or by 0.5 percent. During FY 2013-14, lottery proceeds used for property tax relief totaled $168.4 million. We found that the Wisconsin Lottery was in compliance with statutory spending limitations related to prizes, product information, administrative expenses, and retailer compensation.
If you need help opening a report file, or have questions or comments, please contact us at AskLAB. or call (608) 266-2818.
Unemployment Reserve Fund — We provided an unmodified opinion on the Unemployment Reserve Fund's financial statements for FY 2013-14 and FY 2012-13. During FY 2013-14, the Fund's net position increased to $329.4 million. We recommend the Department of Workforce Development continue to work with the Unemployment Insurance Advisory Council and take steps to further improve the net position of the Fund.
Health Insurance Risk-Sharing Plan — We completed a final financial audit of the Health Insurance Risk-Sharing Plan (HIRSP) and provided an unmodified opinion on the HIRSP Authority's financial statements for the two-month period ended February 28, 2014. We also reviewed the close out of the financial activity of the HIRSP plans through May 2015. As of May 31, 2015, a cash balance of $1.4 million remained. We recommend that OCI return any required funds to the federal government and work with the HIRSP Advisory Committee to determine the appropriate actions related to the remaining cash balance.
Retirement Funds Investment Activity — We provided unmodified opinions on the financial statements of the Retirement Funds for the year ended December 31, 2014, and for the six-month period from July 1, 2013, through December 31, 2013. The financial statements and our auditor's opinions are published separately in the State of Wisconsin Investment Board's 2014 Retirement Funds Annual Report.
Legislative Audit Bureau
22 E. Mifflin Street, Suite 500
Madison, WI 53703
Phone: (608) 266-2818
Fax: (608) 267-0410
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About the bureau
The Legislative Audit Bureau is a nonpartisan service agency that conducts financial and program evaluation audits of state agencies.
To learn more about the bureau click here.
About our reports
Our reports typically contain reviews of financial transactions, analyses of agency performance or public policy issues, and recommendations for improvement.
To learn more about our reports click here.
About the Legislative Audit Committee
Reports are submitted to the Joint Legislative Audit Committee, which may arrange public hearings and introduce legislation in response to our recommendations.
To learn more about the Audit Committee click here.