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Listen to the Joint Legislative Audit Committee Hearing Listen to the Joint Legislative Audit Committee Hearing (Archive)
UPCOMING HEARING:
Wednesday, September 9, 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 9, 2015. On the day of the hearing, a live broadcast can be accessed through this link.
A Joint Legislative Audit Committee Hearing was held on Wednesday, September 2, 2015. The audio archive can be accessed through this link.
Complaints Considered by the Government Accountability Board — We have completed certain audit work that we could not finish in report 14-14 because our scope was limited by a July 2014 opinion from the Attorney General. From fiscal year (FY) 2010-11 through FY 2012-13, an estimated 1,894 complaints were filed with GAB's Elections Division, an estimated 204 inquiries were initiated by GAB's Ethics and Accountability Division, and 21 investigations were initiated by GAB. We recommend GAB's staff consistently provide GAB with the names of three qualified individuals who may be retained as a special investigator, and consistently resolve complaints in a timely manner.
If you need help opening a report file, or have questions or comments, please contact us at AskLAB. or call (608) 266-2818.
Wisconsin Retirement System — We provided an unmodified opinion on the financial statements and related notes of the Wisconsin Retirement System (WRS) for calendar year 2014. The fiduciary net position of the WRS increased from $89.9 billion as of December 31, 2013, to $92.2 billion as of December 31, 2014, or by 2.5 percent. We include information in our report regarding the application of the new pension accounting standards to the WRS, including the calculation of a $2.5 billion net pension asset for the WRS as of December 31, 2014. In addition, we include a recommendation for the Department of Employee Trust Funds to improve its financial reporting process.
Wisconsin Retirement System Reporting for Participating Employers — We provided unmodified opinions on the Schedule of Employer Allocations for the Wisconsin Retirement System (WRS) and the specified total amounts on the Schedule of Pension Amounts by Employer for the WRS, and the related notes, for calendar year 2014. Our independent auditor's report on the schedules is included in the report on the schedules that the Department of Employee Trust Funds (ETF) issued separately. ETF prepared the schedules to assist participating WRS employers in reporting their proportionate share of the $2.5 billion net pension asset, as well as other amounts, in their own financial statements.
Medical Education, Research, and Public Health Grants — In 2004 and 2007, the Medical College of Wisconsin (MCW) and the University of Wisconsin (UW) School of Medicine and Public Health received endowment funds to provide grants for medical education and research programs and public health programs. From 2009 through 2013, MCW spent $67.5 million and UW spent $67.8 million for medical education and research projects, public health projects, and associated administration. Although we found that both schools generally complied with requirements they had established, we make recommendations to improve each school's oversight and administration of grant funds.
Legislative Audit Bureau
22 E. Mifflin Street, Suite 500
Madison, WI 53703
Phone: (608) 266-2818
Fax: (608) 267-0410
Send questions or comments to AskLAB.
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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.