SUMMARY

We provided an unmodified opinion on the Petroleum Inspection Fee Revenue Obligations Program’s financial statement for FY 2017-18 and FY 2016-17. The program was established to provide financing to pay claims under the State of Wisconsin Petroleum Environmental Cleanup Fund Award (PECFA) program. As of June 30, 2018, a total of $55.1 million in revenue obligations remained outstanding. These obligations are scheduled to be paid off on July 1, 2019. The revenue obligations will be repaid using a $0.02 per gallon fee charged for petroleum products received for sale in Wisconsin. 2015 Wisconsin Act 55 sunset the PECFA program, and all claims for reimbursement must be submitted by July 1, 2020.