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State Surplus Grows to $760 Million
The Department of Administration (DOA) announced this week that our state ended the 2012-2013 fiscal year with a $760 million surplus. This figure was $90 million higher than previous estimates, due to an increase in revenue and lower than anticipated spending. As a result of the growth in revenue, a $153 million deposit was made into the state’s rainy day fund, the largest such deposit in the state’s history. The rainy day fund now stands at $279 million dollars which is also the highest balance the state of Wisconsin has ever seen. For more details on the DOA’s final budget figures, please visit their website.