SUMMARY

We provided an unmodified opinion on the financial statements of the State Investment Fund for the fiscal year ended June 30, 2020. The financial statements and our audit opinion are published separately in the State of Wisconsin Investment Board’s State Investment Fund Annual Financial Report for the fiscal year ended June 30, 2020. On the basis of generally accepted accounting principles, the net position of the State Investment Fund increased from $12.9 billion as of June 30, 2019, to $16.0 billion as of June 30, 2020, or by $3.1 billion. The increase is largely attributed to funding received by the State of Wisconsin and certain local governments under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.