Wisconsin’s General Fund Balance $265 Million Below Estimates Medicaid Spending $207 Million More than Budgeted

By   /   October 20, 2010  /   No Comments

MacIver News Service

[Madison, Wisc...] Wisconsin’s desperate fiscal condition is worse than previously estimated, according to an official analysis released late Monday.

Bob Lang, Director of the non-partisan Legislative Fiscal Bureau, broke down the numbers in a  2009-10 Annual Fiscal Report memo he sent to the co-Chairs of the Joint Finance Committee.

The State’s General Fund balance  closed the fiscal year $265 million below estimates.

According to the memo:

The report indicates that the gross, closing general fund balance for 2009-10 is $71 million. This is $265 million below the $336 million amount estimated at the conclusion of the 2009-10 legislative session. The $265 million variance is due to reduced departmental revenues (non-tax receipts deposited in the general fund) of $43 million and increased net expenditures of $222 million.
The largest discrepancy came in the area of medical assistance.
Net appropriations exceeded budgeted amounts by $222 million. This is primarily due to the fact the medical assistance (MA) program spent $207 million more than budgeted in 2009-10. To fund a shortfall in the MA program in 2009-10, the administration transferred amounts from the biennial appropriation for MA from 2010-11 to 2009-10.

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