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Difference between revisions of "Wisconsin state budget and finances"

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{{budget infobox2|
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{{PLP banner|State=Wisconsin||EP=Y|EnP=Y|F=Y|PE=Y|SC=Y|CS=Y|PP=Y|SB=Y|TP=Y|VP=Y|BAR=Y|}}
| state = Wisconsin  
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{{budget infobox3
| image = Flag of Wisconsin.png|
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|state = Wisconsin
| budgetcal =Biennial
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|budgetcal = Biennial
| fiscalyear =2014-2015
+
|fiscalyear = 2015
| credit=AA (as of May 2012)
+
|creditrating = AA (as of 2014)
| percentchangedr =
+
|governor= [[Scott Walker]]
| expenses = $14 billion
+
|spending =  $44.9 billion (estimated for 2014)
| all funds expenses =$42.8 billion (FY 2013 estimate)
+
|per capita spending = $7,797.22 (estimated for 2014)
| spending change = 4.71%
+
|tax collections = $16.5 billion (2013)
| change =up
+
|per capita tax collections = $2,877.02 (2013)
| governor = Scott Walker
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|state debt = $45.0 billion (as of 2014)
| % federal = 28.19%
+
|per capita state debt = $7,863 (as of 2014)
| state debt = $45,026,643,000
+
}}{{tnr|limit=3|maxwidth=200px}}Between fiscal years 2013 and 2014, '''total government spending in Wisconsin increased''' by approximately '''$2.1 billion''', from $42.8 billion in fiscal year 2013 to an estimated $44.9 billion in 2014. This represents a '''5 percent increase'''. The cumulative rate of inflation during the same period was 1.58 percent, calculated using the Consumer Price Indices for January 2013 and January 2014. As of 2014, financial services firm Standard and Poor's had assigned Wisconsin a '''AA credit rating'''.<ref>[http://www.bls.gov/cpi/cpid1402.pdf ''Bureau of Labor Statistics'', "CPI Detailed Report Data for February 2014," accessed April 9, 2014]</ref><ref>[http://inflationdata.com/Inflation/Inflation_Calculators/Cumulative_Inflation_Calculator.aspx ''InflationData.com'', "Cumulative Inflation Calculator," February 28, 2014]</ref><ref name=nasbo2014>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report%20%28Fiscal%202012-2014%29S.pdf ''National Association of State Budget Officers'', "State Expenditure Report: 2012-2014," accessed February 18, 2015]</ref>
| per cap debt = $7,863
+
}}{{tnr|limit=3}}This page contains information about '''budget processes and policy issues''' in [[Wisconsin]], including:
+
* A summary of the budget drafting process
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* Trends in expenditures and revenues
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* Current and past fiscal year budget developments
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* Financial transparency measures
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Between fiscal year 2009 and fiscal year 2013, Wisconsin's total expenditures increased by approximately $2.7 billion, from $40.1 billion in 2009 to $42.8 billion in 2013. This represents a 6.31 percent increase, below the cumulative rate of inflation during the same period (9.06 percent, calculated using the Consumer Price Indices for January 2009 and January 2013).<ref>[http://www.bls.gov/cpi/cpid1402.pdf ''Bureau of Labor Statistics'', "CPI Detailed Report Data for February 2014," accessed April 9, 2014]</ref><ref>[http://inflationdata.com/Inflation/Inflation_Calculators/Cumulative_Inflation_Calculator.aspx ''InflationData.com'', "Cumulative Inflation Calculator," February 28, 2014]</ref>
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{|class="wikitable" style="border-left:solid 0px; border-right:solid 0px; border-top:solid 3px #2b3773; border-bottom:solid 3px #2b3773; background-color:AliceBlue; width:450px;" align="center"
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|-
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|<center>'''In fiscal year 2014, estimated [[Total state expenditures|per capita spending]] in Wisconsin ranked ninth in the nation at  $7,797. In 2013, individual income taxes accounted for nearly 44 percent of total [[State government tax collections by source|state government tax collections]].'''</center>
 +
|-
 +
|}
 +
==Spending==
 +
===Definitions===
 +
{{Budget types background 2}}
 +
===2014 expenditures===
 +
::''See also: [[Total state expenditures]]''
 +
The table below breaks down estimated spending totals for fiscal year 2014 (comparable figures from surrounding states are included to provide additional context). Figures for all columns except "Population” and “Per capita spending" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the columns labeled "Population” and “Per capita spending" have not been abbreviated.<ref name=nasbo2014/>
  
==Budget process==
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'''Total estimated spending''' in Wisconsin in 2014 was '''$44.9 billion'''. Wisconsin's estimated '''per capita spending''' in 2014 was '''$7,797''', higher than that of any neighboring states.  
{{Wisconsin budget process}}
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+
==Expenditures==
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===Definitions===
+
{{Budget types background}}
+
===2013 expenditures===
+
[[File:Wisconsin total expenditures 2013.png|right|thumb|500px|Breakdown of expenditures in FY 2013.<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
+
The table below breaks down expenditures for fiscal year 2013 (comparable figures from surrounding states are provided to give additional context).<ref name=expenditures2013>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2011-2013," accessed February 21, 2014]</ref> Figures for all columns except "Per capita expenditures" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita expenditures" have not been abbreviated.  
+
  
{| class="wikitable" style="text-align:center; width:55%;"
+
{| class="wikitable collapsible sortable" style="background:none; text-align:center; width:60%;"
! colspan="7" align="center" style="background-color:#008000; color: white;" | Total state expenditures, FY 2013 ($ in millions)<ref name=expenditures2013/>
+
! colspan="6" align="center" style="background-color:#2b3773; color: white;" |Total estimated state spending, FY 2014 ($ in millions)
 
|-
 
|-
 
! valign="bottom" style="background-color:#444; color: white;" | State
 
! valign="bottom" style="background-color:#444; color: white;" | State
! valign="bottom" style="background-color:#444; color: white;" | General fund
+
! valign="bottom" style="background-color:#444; color: white;" | State funds
 
! valign="bottom" style="background-color:#444; color: white;" | Federal funds
 
! valign="bottom" style="background-color:#444; color: white;" | Federal funds
! valign="bottom" style="background-color:#444; color: white;" | Other funds
+
! valign="bottom" style="background-color:#444; color: white;" | Total spending
! valign="bottom" style="background-color:#444; color: white;" | Bonds
+
! valign="bottom" style="background-color:#444; color: white;" | Population
! valign="bottom" style="background-color:#444; color: white;" | Total
+
! valign="bottom" style="background-color:#444; color: white;" | Per capita spending
! valign="bottom" style="background-color:#444; color: white;" | Per capita expenditures**
+
 
|-
 
|-
|'''Wisconsin''' || '''$14,042''' || '''$10,815''' || '''$17,912''' || '''$0''' || '''$42,769''' || '''$7,447.53'''
+
| [[Wisconsin state budget and finances|Wisconsin]]||$33,887||$11,006||'''$44,893'''||5,757,564||'''$7,797.22'''
 
|-
 
|-
|[[Illinois state budget|Illinois]] || $29,260 || $15,407 || $19,825 || $1,955 || $66,447 || $5,158.07
+
| [[Illinois state budget and finances|Illinois]]||$50,392||$19,964||$70,356||12,880,580||$5,462.18
 
|-
 
|-
|[[Iowa state budget|Iowa]] || $6,231 || $5,682 || $7,539 || $157 || $19,609 || $6,345.10
+
| [[Iowa state budget and finances|Iowa]]||$13,957||$6,122||$20,079||3,107,126||$6,462.24
 
|-
 
|-
|[[Michigan state budget|Michigan]] || $9,164 || $19,295 || $20,107 || $182 || $48,748 || $4,926.22
+
| [[Michigan state budget and finances|Michigan]]||$30,605||$20,632||$51,237||9,909,877||$5,170.30
 
|-
 
|-
|[[Minnesota state budget|Minnesota]] || $20,056 || $8,637 || $6,263 || $810 || $35,766 || $6,598.43
+
| [[Minnesota state budget and finances|Minnesota]]||$25,861||$9,492||$35,353||5,457,173||$6,478.26
|-
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|-class="sortbottom"
|align="left" colspan="8" | <small>**Per capita figures are calculated by taking the state's total expenditures and dividing by the number of state residents according to United States Census estimates.<ref name=2013census/><ref name=2009census>[https://www.census.gov/popest/data/historical/2000s/vintage_2009/index.html ''United States Census Bureau'', "Vintage 2009: Annual Population Estimates," accessed February 26, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
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|style="line-height:135%;" align="left" colspan="6" | <small>Per capita figures are calculated by taking the state's total spending and dividing by the number of state residents according to United States Census estimates.<ref name=2014census>[http://quickfacts.census.gov/qfd/index.html ''United States Census Bureau'', "State and County QuickFacts," accessed February 23, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 
|}
 
|}
  
===Expenditures by function===
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===Spending by function===
[[File:Wisconsin expenditures by type 2012.png|right|thumb|500px|Breakdown of expenditures by function in FY 2012.<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
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[[File:Wisconsin expenditures by type 2013.png|right|thumb|270px|Breakdown of spending by function in FY 2013<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
State expenditures in Wisconsin can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2012 data is included in the table below (information from neighboring states is provided for additional context). Figures are rendered as percents, indicating the share of the total budget spent per category.
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::''See also: [[State spending by function as a percent of total expenditures]]''
 +
State spending in Wisconsin can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2013 information is included in the table below (information from neighboring states is provided for additional context). Figures are rendered as percents, indicating the share of the total budget spent per category.<ref name=nasbo2014/>
  
{| class="wikitable" style="text-align:center; width:55%;"
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In 2013, '''Medicaid accounted for 17.2 percent of total state spending''' in Wisconsin, a smaller share than in any neighboring state.
! colspan="8" align="center" style="background-color:#008000; color: white;" | Expenditures by function, FY 2012 (as percents)<ref name=expenditures2013/>
+
 +
{| class="wikitable sortable collapsible" style="background:none; text-align:center; width:500px"
 +
! colspan="8" align="center" style="background-color:#2b3773; color: white;" |State spending by function as a percent of total expenditures, FY 2013
 
|-
 
|-
! valign="bottom" style="background-color:#444; color: white;" | State
+
! style="background-color:#444; color: white; font-size:85%" |State
! valign="bottom" style="background-color:#444; color: white;" | Elementary and secondary ed.
+
! style="background-color:#444; color: white; font-size:85%" |K-12 education
! valign="bottom" style="background-color:#444; color: white;" | Higher ed.
+
! style="background-color:#444; color: white; font-size:85%" |Higher education
! valign="bottom" style="background-color:#444; color: white;" | Public assistance
+
! style="background-color:#444; color: white; font-size:85%" |Public assistance
! valign="bottom" style="background-color:#444; color: white;" | Medicaid
+
! style="background-color:#444; color: white; font-size:85%" |Medicaid
! valign="bottom" style="background-color:#444; color: white;" | Corrections
+
! style="background-color:#444; color: white; font-size:85%" |Corrections
! valign="bottom" style="background-color:#444; color: white;" | Transportation
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! style="background-color:#444; color: white; font-size:85%" |Trans-<br>portation
! valign="bottom" style="background-color:#444; color: white;" | Other
+
! style="background-color:#444; color: white; font-size:85%" |Other
 
|-
 
|-
|'''Wisconsin''' || '''16.7%''' || '''14.1%''' || '''0.4%''' || '''16.5%''' || '''2.9%''' || '''6.9%''' || '''42.5%'''
+
| [[Wisconsin state budget and finances|Wisconsin]]||16.2%||14.3%||0.3%||'''17.2%'''||2.9%||6.9%||42.1%
 
|-
 
|-
|[[Illinois state budget|Illinois]] || 15.8% || 5.5% || 0.1% || 19.7% || 2.2% || 8.5% || 48.1%
+
| [[Illinois state budget and finances|Illinois]]||13.3%||3.7%||0.3%||23.8%||2.1%||8.4%||48.4%
 
|-
 
|-
|[[Iowa state budget|Iowa]] || 16.8% || 25.0% || 0.6% || 19.6% || 2.7% || 7.5% || 27.8%
+
| [[Iowa state budget and finances|Iowa]]||16.4%||26%||0.5%||19.8%||2.1%||6.8%||28.3%
 
|-
 
|-
|[[Michigan state budget|Michigan]] || 27.2% || 4.1% || 0.9% || 26.1% || 4.7% || 6.9% || 30.2%
+
| [[Michigan state budget and finances|Michigan]]||27.2%||4.2%||0.7%||26.4%||4.6%||7.8%||29%
 
|-
 
|-
|[[Minnesota state budget|Minnesota]] || 23.8% || 9.7% || 1.4% || 27.6% || 1.5% || 8.3% || 27.7%
+
| [[Minnesota state budget and finances|Minnesota]]||29.2%||4.7%||1.4%||24.3%||1.5%||10.7%||28.2%
|-
+
|-class="sortbottom"
|align="left" colspan="8" | <small>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
+
|style="line-height:135%;" align="left" colspan="8" | <small>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]<br>'''Note:''' "Other" expenditures include "Children's Health Insurance Program (CHIP), institutional and community care for the mentally ill and developmentally disabled, public health programs, employer contributions to pensions and health benefits, economic development, environmental projects, state police, parks and recreation, housing and general aid to local governments."<ref name=nasbo2014/></small>
 
|}
 
|}
  
===Expenditure trends===
+
===Spending trends===
From 2008 to 2012, expenditures on elementary and secondary education, corrections and transportation decreased between 0.1 and 2.4 percent. During that same time period, expenditures on higher education, public assistance and Medicaid increased between 0.1 and three percent. The table below details changes in expenditures from 2008 to 2012.<ref name=expenditures2013/><ref name=expenditures2011>[http://www.nasbo.org/sites/default/files/2010%20State%20Expenditure%20Report_0.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009-2011," accessed February 24, 2014]</ref><ref name=expenditures2012>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report%20%28Fiscal%202010-2012%29.pdf ''National Association of State Budget Officers'', "State Expenditures Report, 2010-2012," accessed February 24, 2014]</ref><ref name=expenditures2009>[http://www.nasbo.org/sites/default/files/2009-State-Expenditure-Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009," accessed February 24, 2014]</ref><ref name=expenditures2008>[http://www.nasbo.org/sites/default/files/FY08%20State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2008," accessed February 24, 2014]</ref> Figures are rendered as percents, indicating the share of the total budget spent per category.
+
Between 2009 and 2013, the share of the Wisconsin state budget spent on K-12 education decreased from 18.6 percent to 16.2 percent. See the table below for further details (figures are rendered as percents, indicating the share of the total budget spent per category).<ref name=nasbo2014/><ref name=expenditures2011>[http://www.nasbo.org/sites/default/files/2010%20State%20Expenditure%20Report_0.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009-2011," accessed February 24, 2014]</ref><ref name=expenditures2012>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report%20%28Fiscal%202010-2012%29.pdf ''National Association of State Budget Officers'', "State Expenditures Report, 2010-2012," accessed February 24, 2014]</ref><ref name=expenditures2009>[http://www.nasbo.org/sites/default/files/2009-State-Expenditure-Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009," accessed February 24, 2014]</ref><ref name=expenditures2008>[http://www.nasbo.org/sites/default/files/FY08%20State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2008," accessed February 24, 2014]</ref>
 
+
{| class="wikitable collapsible sortable" style="text-align:center; width:600px;"
{| class="wikitable" style="text-align:center; width:65%;"
+
! colspan="8" align="center" style="background-color:#2b3773; color: white;" | Spending by function from 2009 to 2013 (as percents)
! colspan="8" align="center" style="background-color:#008000; color: white;" | Expenditures from 2008 to 2012 (as percents)
+
 
|-
 
|-
! valign="bottom" style="background-color:#444; color: white;" | Year
+
! style="background-color:#444; color: white;" |Year
! valign="bottom" style="background-color:#444; color: white;" | Elementary and secondary ed.
+
! style="background-color:#444; color: white;" |K-12 education
! valign="bottom" style="background-color:#444; color: white;" | Higher ed.
+
! style="background-color:#444; color: white;" |Higher education
! valign="bottom" style="background-color:#444; color: white;" | Public assistance
+
! style="background-color:#444; color: white;" |Public assistance
! valign="bottom" style="background-color:#444; color: white;" | Medicaid
+
! style="background-color:#444; color: white;" |Medicaid
! valign="bottom" style="background-color:#444; color: white;" | Corrections
+
! style="background-color:#444; color: white;" |Corrections
! valign="bottom" style="background-color:#444; color: white;" | Transportation
+
! style="background-color:#444; color: white;" |Transportation
! valign="bottom" style="background-color:#444; color: white;" | Other
+
! style="background-color:#444; color: white;" |Other
 +
|-
 +
|2013 || 16.2%||14.3%||0.3%||17.2%||2.9%||6.9%||42.1%
 
|-
 
|-
 
|2012 || 16.7% || 14.1% || 0.4% || 16.5% || 2.9% || 6.9% || 42.5%
 
|2012 || 16.7% || 14.1% || 0.4% || 16.5% || 2.9% || 6.9% || 42.5%
Line 108: Line 107:
 
|2009 || 18.6% || 12.5% || 0.2% || 15.4% || 3.3% || 7.5% || 42.4%
 
|2009 || 18.6% || 12.5% || 0.2% || 15.4% || 3.3% || 7.5% || 42.4%
 
|-
 
|-
|2008 || 19.1% || 13.1% || 0.3% || 13.5% || 3.4% || 7.0% || 43.6%
+
|style="line-height:135%;" align="left" colspan="8" | <small>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]<br>'''Note:''' "Other" expenditures include "Children's Health Insurance Program (CHIP), institutional and community care for the mentally ill and developmentally disabled, public health programs, employer contributions to pensions and health benefits, economic development, environmental projects, state police, parks and recreation, housing and general aid to local governments."<ref name=nasbo2014/></small>
|-
+
|style="background-color:black; color:white"|'''Change in %'''
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| style="background-color:black; color:white" align="center"|'''-2.40%''' || align="center" style="background-color:black; color:white"|'''1.00%'''|| align="center" style="background-color:black; color:white"| '''0.10%''' || align="center" style="background-color:black; color:white"|'''3.00%''' ||align="center" style="background-color:black; color:white"| '''-0.50%''' || align="center" style="background-color:black; color:white"|'''-0.10%''' || align="center" style="background-color:black; color:white"|'''-1.10%'''
+
|-
+
|align="left" colspan="8" | <small>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
+
 
|}
 
|}
  
 
==Revenues==
 
==Revenues==
 
===2013 revenues===
 
===2013 revenues===
[[File:Wisconsin GF revenues 2013.png|right|400px|thumb|Breakdown of general fund revenue sources in FY 2013.<small><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>]]
+
::''See also: [[State government tax collections by source]]''
The table below breaks down general fund revenues by source in fiscal year 2013 (comparable figures from surrounding states are also provided to give additional context).<ref name=expenditures2013>[http://www.nasbo.org/sites/default/files/State%20Expenditure%20Report.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2011-2013," accessed February 21, 2014]</ref> Figures for all columns except "Per capita revenue" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita revenue" have not been abbreviated.  
+
The table below breaks down state government tax collections by source in 2013 (comparable figures from surrounding states are also provided to give additional context). Figures for all columns except "population" and "per capita revenue" are rendered in thousands of dollars (for example, $2,448 translates to $2,448,000). Figures in the columns labeled "population" and "per capita revenue" have not been abbreviated).<ref name=taxcollections>[http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=405 ''Tax Policy Center'', "State Tax Collection Sources 2000-2013," June 20, 2014]</ref>
  
{| class="wikitable" style="text-align:center; width:55%;"
+
In 2013, '''state tax collections''' in Wisconsin totaled '''$16.5 billion'''. '''Per capita tax collections''' in Wisconsin totaled '''$2,877'''.
! colspan="8" align="center" style="background-color:#008000; color: white;" | Revenue sources in the general fund, FY 2013 ($ in millions)<ref name=expenditures2013/>
+
 
 +
{| class="wikitable collapsible sortable" style="background:none; text-align:center; width:100%;"
 +
! colspan="10" align="center" style="background-color:#2b3773; color: white;" |State tax collections by source ($ in thousands)
 
|-
 
|-
 
! valign="bottom" style="background-color:#444; color: white;" | State
 
! valign="bottom" style="background-color:#444; color: white;" | State
! valign="bottom" style="background-color:#444; color: white;" | Sales tax
+
! valign="bottom" style="background-color:#444; color: white;" | Property taxes
! valign="bottom" style="background-color:#444; color: white;" | Personal income tax
+
! valign="bottom" style="background-color:#444; color: white;" | Sales and gross receipts
! valign="bottom" style="background-color:#444; color: white;" | Corporate income tax
+
! valign="bottom" style="background-color:#444; color: white;" | Licenses
! valign="bottom" style="background-color:#444; color: white;" | Gaming tax
+
! valign="bottom" style="background-color:#444; color: white;" | Individual income taxes
! valign="bottom" style="background-color:#444; color: white;" | Other taxes and fees
+
! valign="bottom" style="background-color:#444; color: white;" | Corporation net income taxes
 +
! valign="bottom" style="background-color:#444; color: white;" | Other taxes
 
! valign="bottom" style="background-color:#444; color: white;" | Total
 
! valign="bottom" style="background-color:#444; color: white;" | Total
! valign="bottom" style="background-color:#444; color: white;" | Per capita revenue**
+
! valign="bottom" style="background-color:#444; color: white;" | 2013 population
 +
! valign="bottom" style="background-color:#444; color: white;" | Per capita collections
 
|-
 
|-
|'''Wisconsin''' || '''$4,410''' || '''$7,497''' || '''$925''' || '''$0''' || '''$1,254''' || '''$14,086''' || '''$2,554.62'''
+
| [[Wisconsin state budget and finances|Wisconsin]]||$148,600||$7,088,411||$1,035,743||$7,227,690||$955,752||$66,416||'''$16,522,612'''||5,742,953||'''$2,877.02'''
 
|-
 
|-
|[[Illinois state budget|Illinois]] || $7,335 || $16,630 || $3,086 || $340 || $8,899 || $36,290 || $2,817.08
+
| [[Illinois state budget and finances|Illinois]]||$61,806||$14,705,739||$2,583,108||$16,538,662||$4,462,627||$363,378||$38,715,320||12,890,552||$3,003.39
 
|-
 
|-
|[[Iowa state budget|Iowa]] || $2,109 || $3,315 || $448 || $120 || $645 || $6,637 || $2,147.61
+
| [[Iowa state budget and finances|Iowa]]||N/A||$3,608,991||$798,137||$3,436,758||$428,554||$101,936||$8,374,376||3,092,341||$2,708.10
 
|-
 
|-
|[[Michigan state budget|Michigan]] || $1,832 || $5,844 || $438 || $0 || $1,075 || $9,189 || $928.59
+
| [[Michigan state budget and finances|Michigan]]||$1,954,898||$12,268,026||$1,454,634||$8,239,086||$900,667||$265,343||$25,082,654||9,898,193||$2,534.06
 
|-
 
|-
|[[Minnesota state budget|Minnesota]] || $4,817 || $8,649 || $1,165 || $39 || $2,786 || $17,456 || $3,220.44
+
| [[Minnesota state budget and finances|Minnesota]]||$821,799||$8,289,780||$1,184,465||$8,950,755||$1,363,128||$421,882||$21,031,809||5,422,060||$3,878.93
 +
|-class="sortbottom"
 +
| colspan="10" style="text-align:left; line-height:135%;" | <small>'''Source''': [http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=405 ''Tax Policy Center'', "State Tax Collection Sources 2000-2013," June 20, 2014]</small>
 
|-
 
|-
| align="left" colspan="8" | <small>**Per capita figures are calculated by taking the state's total revenues and dividing by the number of state residents according to United States Census estimates for 2013.<ref name=2013census>[http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk ''United States Census Bureau'', "Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2013," accessed February 26, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 
 
|}
 
|}
  
===Revenue trends===
+
[[File:Wisconsin tax collections by source 2013.png |right|thumb|300px|Wisconsin tax collections by source in 2013<small><br>'''Source:''' [http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=405 Tax Policy Center]</small>]]
The table below details the change in revenue sources in the general fund from 2009 to 2013.<ref name=expenditures2013/><ref name=expenditures2011/> Figures for all columns except "Per capita revenue" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the column labeled "Per capita revenue" have not been abbreviated.
+
 
 +
The table below lists 2013 tax collections by source as percentages of total collections. In Wisconsin, '''individual income tax''' collections accounted for '''43.7 percent of total collections''', a greater share than in any neighboring state.<ref name=taxcollections>[http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=405 ''Tax Policy Center'', "State Tax Collection Sources 2000-2013," June 20, 2014]</ref>
  
{| class="wikitable" style="text-align:center; width:65%;"
+
{| class="wikitable collapsible sortable" style="background:none; text-align:center; width:60%;"
! colspan="8" align="center" style="background-color:#008000; color: white;" | Revenue sources in the general fund, Wisconsin ($ in millions)<ref name=expenditures2013/><ref name=expenditures2011>[http://www.nasbo.org/sites/default/files/2010%20State%20Expenditure%20Report_0.pdf ''National Association of State Budget Officers'', "State Expenditure Report, 2009-2011," accessed February 24, 2014]</ref>
+
! colspan="7" align="center" style="background-color:#2b3773; color: white;" |State tax collections by source (as percentages)
 
|-
 
|-
! valign="bottom" style="background-color:#444; color: white;" | Year
+
! valign="bottom" style="background-color:#444; color: white;" | State
! valign="bottom" style="background-color:#444; color: white;" | Sales tax
+
! valign="bottom" style="background-color:#444; color: white;" | Property taxes
! valign="bottom" style="background-color:#444; color: white;" | Personal income tax
+
! valign="bottom" style="background-color:#444; color: white;" | Sales and gross receipts
! valign="bottom" style="background-color:#444; color: white;" | Corporate income tax
+
! valign="bottom" style="background-color:#444; color: white;" | Licenses
! valign="bottom" style="background-color:#444; color: white;" | Gaming tax
+
! valign="bottom" style="background-color:#444; color: white;" | Individual income taxes
! valign="bottom" style="background-color:#444; color: white;" | Other taxes and fees
+
! valign="bottom" style="background-color:#444; color: white;" | Corporation net income taxes
! valign="bottom" style="background-color:#444; color: white;" | Total
+
! valign="bottom" style="background-color:#444; color: white;" | Other taxes
! valign="bottom" style="background-color:#444; color: white;" | Per capita revenue**
+
 
|-
 
|-
|2013 || $4,410 || $7,497 || $925 || $0 || $1,254 || $14,086 || $2,554.62
+
| [[Wisconsin state budget and finances|Wisconsin]]||0.90%||42.90%||6.27%||'''43.74%'''||5.78%||0.40%
 
|-
 
|-
|2012 || $4,289 || $7,042 || $907 || $0 || $1,278 || $13,516 || $2,361.06
+
| [[Illinois state budget and finances|Illinois]]||0.16%||37.98%||6.67%||42.72%||11.53%||0.94%
 
|-
 
|-
|2011 || $4,109 || $6,701 || $853 || $0 || $1,249 || $12,912 || $2,261.78
+
| [[Iowa state budget and finances|Iowa]]||N/A||43.10%||9.53%||41.04%||5.12%||1.22%
 
|-
 
|-
|2010 || $3,944 || $6,089 || $835 || $0 || $1,264 || $12,132 || $2,132.51
+
| [[Michigan state budget and finances|Michigan]]||7.79%||48.91%||5.80%||32.85%||3.59%||1.06%
 
|-
 
|-
|2009 || $4,084 || $6,223 || $630 || $0 || $1,177 || $12,113 || $2,142.08
+
| [[Minnesota state budget and finances|Minnesota]]||3.91%||39.42%||5.63%||42.56%||6.48%||2.01%
 +
|-class="sortbottom"
 +
| colspan="7" style="text-align:left; line-height:135%;" | <small>'''Source''': [http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=405 ''Tax Policy Center'', "State Tax Collection Sources 2000-2013," June 20, 2014]</small>
 
|-
 
|-
|style="background-color:black; color:white"|'''Change in %'''
 
| style="background-color:black; color:white" align="center"|'''7.98%''' || align="center" style="background-color:black; color:white"|'''20.47%'''|| align="center" style="background-color:black; color:white"| '''46.83%''' || align="center" style="background-color:black; color:white"|'''N/A''' ||align="center" style="background-color:black; color:white"| '''6.54%''' || align="center" style="background-color:black; color:white"|'''16.29%''' || align="center" style="background-color:black; color:white"|'''19.26%'''
 
|-
 
|align="left" colspan="8" | <small>**Per capita figures are calculated by taking the state's total revenues and dividing by the number of state residents according to United States Census estimates.<ref name=2013census/><ref name=2009census>[https://www.census.gov/popest/data/historical/2000s/vintage_2009/index.html ''United States Census Bureau'', "Vintage 2009: Annual Population Estimates," accessed February 26, 2014]</ref><br>'''Source:''' [http://www.nasbo.org/ National Association of State Budget Officers]</small>
 
 
|}
 
|}
  
==State budgets by year==
+
==Current fiscal year budget==
{{See budget bill|Link=[https://docs.legis.wisconsin.gov/2013/related/acts/20.pdf 2013 Wisconsin Act 20]}}
+
::''See also: [[Historic Wisconsin budget and finance information]]''
===Fiscal year 2014===
+
===Fiscal years 2014 and 2015===
 +
{{See budget bill|Link=[https://docs.legis.wisconsin.gov/2013/related/acts/20.pdf Act 20]}}
 +
 
 
{{Budget bill box
 
{{Budget bill box
 
|State = Wisconsin
 
|State = Wisconsin
|Year = 2014
+
|Year = 2014 and 2015
|Link =https://docs.legis.wisconsin.gov/2013/proposals/ab40 Assembly Bill 40
+
|Link =https://docs.legis.wisconsin.gov/2013/related/acts/20.pdf Act 20
 
|Introduced =February 20, 2013
 
|Introduced =February 20, 2013
 
|Days =  
 
|Days =  
Line 198: Line 197:
 
}}
 
}}
  
On June 30, 2013, [[Governor of Wisconsin|Governor]] [[Scott Walker]] signed the Assembly Bill 40, the budget bill for the 2013-2015 biennium passed by the [[Wisconsin State Legislature]] into law, making it Wisconsin Act 20.<ref>[https://docs.legis.wisconsin.gov/2013/proposals/ab40 ''Wisconsin State Legislature'', "Assembly Bill 40," accessed May 7, 2014]</ref> The new biennium started on a $670 million surplus, which was the largest opening balance in over a decade. The Rainy Day Fund had also restored some of its depleted funds, bringing balance to over $243 million, which was its highest balance on record.<ref name=vetomessage>[https://docs.legis.wisconsin.gov/2013/related/veto_messages/2013_wisconsin_act_20 ''Wisconsin State Legislature'', "Governor's Veto Message," July 1, 2013]</ref>
+
On June 30, 2013, [[Governor of Wisconsin|Governor]] [[Scott Walker]] signed Assembly Bill 40, the budget bill for the July 1, 2013, to June 30, 2015, biennium passed by the [[Wisconsin State Legislature]], into law, making it Wisconsin Act 20.<ref>[https://docs.legis.wisconsin.gov/2013/proposals/ab40 ''Wisconsin State Legislature'', "Assembly Bill 40," accessed May 7, 2014]</ref> The new biennium started with a $670 million surplus, which was the state's largest opening balance in over a decade. The Rainy Day Fund had also restored some of its depleted funds, bringing the balance to over $243 million, which was its highest balance on record.<ref name=vetomessage>[https://docs.legis.wisconsin.gov/2013/related/veto_messages/2013_wisconsin_act_20 ''Wisconsin State Legislature'', "Governor's Veto Message," July 1, 2013]</ref>
  
The governor made 57 vetoes to the budget bill before signing it into law. According to Gov. Walker, these vetoes removed unnecessary reports and requirements, clarified program intentions and timelines and promoted efficient administration. In total, the vetoes cut spending by $865,000.<ref name=vetomessage/>
+
The governor made 57 vetoes to the budget bill before signing it into law. According to Walker, these vetoes removed unnecessary reports and requirements, clarified program intentions and timelines and promoted efficient administration. In total, the vetoes cut spending by $865,000.<ref name=vetomessage/>
  
===Fiscal year 2013===
+
==State debt==
::''See also: [[Wisconsin state budget (2012-2013)]]
+
::''See also: [[State debt]]''
 +
According to a January 2014 report by the nonprofit organization [[State Budget Solutions]], Wisconsin had a '''state debt''' of approximately '''$45 billion'''. Its '''state debt per capita''' was '''$7,863'''. The report revealed that state governments faced a combined $5.1 trillion in debt. The obligation amounted to $16,178 per capita in the nation.<ref>[http://www.statebudgetsolutions.org/publications/detail/state-budget-solutions-fourth-annual-state-debt-report ''State Budget Solutions'', "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014]</ref>
  
===Fiscal year 2012===
+
{| class="wikitable collapsible sortable" style="background:none; text-align:center; width:600px;"
::''See also: [[Wisconsin state budget (2011-2012)]]
+
! colspan="4" align="center" style="background-color:#2b3773; color: white;" |Total state debt, 2014
 
+
|-
===Fiscal year 2011===
+
! valign="bottom" style="background-color:#444; color: white;" | State
::''See also: [[Wisconsin state budget (2010-2011)]]
+
! valign="bottom" style="background-color:#444; color: white;" | Total state debt
 
+
! valign="bottom" style="background-color:#444; color: white;" | State debt per capita
===Fiscal year 2010===
+
! valign="bottom" style="background-color:#444; color: white;" | Per capita debt ranking
::''See also: [[Wisconsin state budget (2009-2010)]]
+
|-
 
+
| [[Wisconsin state budget and finances|Wisconsin]]||'''$45,026,643,000'''||'''$7,863'''||47
==Historical spending==
+
|-
State budget historical spending below was compiled by the [[National Association of State Budget Officers]]. Figures reflect the reported "Total Expenditures" in Table 1. Figures for all columns are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000).<ref name=expenditures2013/><ref name=expenditures2012/>
+
| [[Illinois state budget and finances|Illinois]]||$321,354,115,000||$24,959||5
{{State budget historical spending
+
|-
|State=Wisconsin
+
| [[Iowa state budget and finances|Iowa]]||$37,783,060,000||$12,290||38
|totalbudgets= 3
+
|-
|2011-2012genfund=13381
+
| [[Michigan state budget and finances|Michigan]]||$142,668,026,000||$14,435||25
|2011-2012otherfund=17371
+
|-
|2011-2012fedfund=10572
+
| [[Minnesota state budget and finances|Minnesota]]||$85,879,526,000||$15,965||21
|2011-2012bonds=0
+
|-
|2011-2012budgettotal=41324
+
|-class="sortbottom"
|2010-2011genfund=13565
+
| colspan="4" style="text-align:left; line-height:135%;" | <small>'''Sources''': [http://www.statebudgetsolutions.org/publications/detail/state-budget-solutions-fourth-annual-state-debt-report ''State Budget Solutions'', "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014]</small>
|2010-2011otherfund=17043
+
|-
|2010-2011fedfund=12236
+
|}
|2010-2011bonds=0
+
|2010-2011budgettotal=42844
+
|2009-2010genfund=12824
+
|2009-2010otherfund=15730
+
|2009-2010fedfund=11531
+
|2009-2010bonds=0
+
|2009-2010budgettotal=40085
+
}}
+
 
+
==State debt==
+
According to a January 2014 report by the nonprofit organization [[State Budget Solutions]], Wisconsin had a state debt of over $45 billion. Its state debt per capita was $7,863. The report revealed that state governments faced a combined $5.1 trillion in debt, 33 percent of annual gross state product. The obligation amounts to $16,178 per capita in the nation. A bulk of the state debt -- 79 percent -- was linked to unfunded [[public pensions]].<ref>[http://www.statebudgetsolutions.org/publications/detail/state-budget-solutions-fourth-annual-state-debt-report ''State Budget Solutions'', "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014]</ref><ref>[http://washingtonexaminer.com/exography-unfunded-public-employee-pensions-are-driving-state-debts-skyward/article/2542548 ''Washington Examiner'', "EXography: Unfunded public employee pensions drive state debts skyward," January 21, 2014]</ref>
+
{{State debt box
+
|State = Wisconsin
+
|totaldebt=$45,026,643,000
+
|totaldebtrank=31
+
|percapdebt=$7,863
+
|percapdebtrank=47
+
|expenditures =$30,752,000,000
+
|expendituresrank =49
+
}}
+
  
 
===Public pensions===
 
===Public pensions===
Line 253: Line 233:
 
A 2012 report from the Pew Center on the States noted that [[Wisconsin public pensions|Wisconsin's pension system]] was fully funded at the close of fiscal year 2010. Consequently, Pew designated the state's pension system as a "solid performer."<ref name=wisconsinpew>[http://www.pewstates.org/research/state-fact-sheets/widening-gap-update-wisconsin-85899399360 ''Pew Center on the States'', "Widening Gap Update: Wisconsin," June 18, 2012]</ref>
 
A 2012 report from the Pew Center on the States noted that [[Wisconsin public pensions|Wisconsin's pension system]] was fully funded at the close of fiscal year 2010. Consequently, Pew designated the state's pension system as a "solid performer."<ref name=wisconsinpew>[http://www.pewstates.org/research/state-fact-sheets/widening-gap-update-wisconsin-85899399360 ''Pew Center on the States'', "Widening Gap Update: Wisconsin," June 18, 2012]</ref>
  
Taken together, the funding ratio for the state's pension system increased from 99.6 percent in fiscal year 2006 to 99.9 percent in fiscal year 2011, a 0.3 percent bump. Likewise, unfunded liabilities decreased from $320.5 million in fiscal year 2006 to $99.3 million in fiscal year 2011.  
+
Taken together, the funding ratio for the state's pension system increased from 99.6 percent in fiscal year 2006 to 99.9 percent in fiscal year 2011, an increase of 0.3 percentage points, or approximately 0.3 percent. Likewise, unfunded liabilities decreased from $320.5 million in fiscal year 2006 to $99.3 million in fiscal year 2011.
  
 
===Credit ratings===
 
===Credit ratings===
States sometimes sell general obligation bonds to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). Credit rating agencies, such as Standard and Poor's, assign grades to states, evaluating their ability to pay the principal and interest on such bonds. Standard and Poor's grades range from AAA, the highest available, to BBB, the lowest. Generally speaking, a higher credit ranking indicates lower risk for an investor, which in turn lowers costs for taxpayers.<ref name=credit>[http://www.pewstates.org/projects/stateline/headlines/infographic-sp-state-credit-ratings-20012012-85899404785 ''Stateline: The Daily News Service of The Pew Charitable Trusts'', "Infographic: S&P State Credit Ratings, 2001-2012," July 13, 2012]</ref>
+
::''See also: [[State credit ratings]]''
 +
Credit rating agencies, such as Standard and Poor's, assign grades to states that take into account a state's ability to pay debts and the general health of the state's economy. Generally speaking, a higher credit rating indicates lower interest costs on the general obligation bonds states sometimes sell to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). This in turn results in lower interest costs, thereby lowering the cost to taxpayers.<ref name=credit>[http://www.pewstates.org/projects/stateline/headlines/infographic-sp-state-credit-ratings-20012012-85899404785 ''Stateline: The Daily News Service of The Pew Charitable Trusts'', "Infographic: S&P State Credit Ratings, 2001-2012," July 13, 2012]</ref><ref>[http://www.bankrate.com/finance/economics/states-with-worst-credit-ratings.aspx ''Bankrate'', "The 6 states with the worst credit ratings," September 27, 2012]</ref>
  
The table below lists the Standard and Poor's credit ranking for Wisconsin from 2001 to 2012 (grades from surrounding states are provided for additional context).<ref name=credit/>
+
The table below lists the Standard and Poor's credit ratings for Wisconsin and surrounding states from 2004 to 2014. Standard and Poor's grades range from AAA, the highest available, to BBB, the lowest.<ref>[http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2014/06/09/sp-ratings-2014 ''Stateline: The Daily News Service of The Pew Charitable Trusts'', "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014]</ref>
  
{| class="wikitable" style="text-align:center; width:55%;"
+
{| class="wikitable sortable" style="background:none; text-align:center; width:500px;"
! colspan="6" align="center" style="background-color:#008000; color: white;" | S&P credit ratings from 2001 to 2012
+
! colspan="12" align="center" style="background-color:#2b3773; color: white;" |State credit ratings, 2004 to 2014
 
|-
 
|-
! valign="bottom" style="background-color:#444; color: white;" |  
+
! style="background-color:#444; color: white;" |State
! valign="bottom" style="background-color:#444; color: white;" | '''Wisconsin'''
+
! style="background-color:#444; color: white;" |2014
! valign="bottom" style="background-color:#444; color: white;" | Illinois
+
! style="background-color:#444; color: white;" |2013
! valign="bottom" style="background-color:#444; color: white;" | Iowa
+
! style="background-color:#444; color: white;" |2012
! valign="bottom" style="background-color:#444; color: white;" | Michigan
+
! style="background-color:#444; color: white;" |2011
! valign="bottom" style="background-color:#444; color: white;" | Minnesota
+
! style="background-color:#444; color: white;" |2010
 +
! style="background-color:#444; color: white;" |2009
 +
! style="background-color:#444; color: white;" |2008
 +
! style="background-color:#444; color: white;" |2007
 +
! style="background-color:#444; color: white;" |2006
 +
! style="background-color:#444; color: white;" |2005
 +
! style="background-color:#444; color: white;" |2004
 
|-
 
|-
| 2012 || AA || A+ || AAA || AA- || AA+
+
| [[Wisconsin state budget and finances|Wisconsin]]||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-
 
|-
 
|-
| 2011 || AA || A+ || AAA || AA- || AAA
+
| [[Illinois state budget and finances|Illinois]]||style="background-color:#F70808; color:white;" | A-||style="background-color:#F70808; color:white;" | A-||style="background-color:#FC9595" | A||style="background-color:#FDAE36" | A+||style="background-color:#FDAE36" | A+||style="background-color:#FDAE36" | A+||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA
 
|-
 
|-
| 2010 || AA || A+ || AAA || AA- || AAA
+
| [[Iowa state budget and finances|Iowa]]||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#07FA1B" | AA+||style="background-color:#07FA1B" | AA+||style="background-color:#07FA1B" | AA+||style="background-color:#07FA1B" | AA+
 
|-
 
|-
| 2009 || AA || A+ || AAA || AA- || AAA
+
| [[Michigan state budget and finances|Michigan]]||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#FDF036" | AA-||style="background-color:#AAFDB1" | AA||style="background-color:#AAFDB1" | AA||style="background-color:#07FA1B" | AA+
|-
+
| 2008 || AA || AA || AAA || AA- || AAA
+
|-
+
| 2007 || AA- || AA || AA+ || AA- || AAA
+
|-
+
| 2006 || AA- || AA || AA+ || AA || AAA
+
|-
+
| 2005 || AA- || AA || AA+ || AA || AAA
+
|-
+
| 2004 || AA- || AA || AA+ || AA+ || AAA
+
|-
+
| 2003 ||  AA- || AA || AA+ || AA+ || AAA
+
|-
+
| 2002 || AA- || AA || AA+ || AAA || AAA
+
|-
+
| 2001 || AA || AA || AA+ || AAA || AAA
+
 
|-
 
|-
 +
| [[Minnesota state budget and finances|Minnesota]]||style="background-color:#07FA1B" | AA+||style="background-color:#07FA1B" | AA+||style="background-color:#07FA1B" | AA+||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA||style="background-color:#056D0D; color:white" | AAA
 +
|-class="sortbottom"
 +
| colspan="12" style="text-align:left; line-height:135%;" | <small>'''Source''': [http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2014/06/09/sp-ratings-2014 ''Stateline: The Daily News Service of The Pew Charitable Trusts'', "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014]</small>
 
|}
 
|}
  
 
==Federal aid to state budget==
 
==Federal aid to state budget==
::''See also: [[Federal aid to budgets in the 50 states]]''
+
::''See also: [[Federal aid to state budgets]]''
The chart below notes how much of the state’s general revenues come from the federal government. Figures were calculated by dividing each state’s federal intergovernmental revenue into its general revenue. The number in the rightmost column indicates the state's ranking in relation to the rest of the nation (e.g., if "1," the state receives the highest percentage of federal funding in the nation). Figures from neighboring states are included to provide additional context.<ref name=federalaid>[http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=COG_2012_FIN009&prodType=table ''United States Census Bureau'', "State Government Finances: 2012," accessed February 24, 2014]</ref>
+
State governments receive aid from the federal government to fund a variety of joint programs, such as Medicaid. Federal aid varies considerably from state to state. For example, [[Mississippi state budget and finances#Federal aid to state budget|Mississippi]] received approximately $7.7 billion in federal aid in 2012, which accounted for more than 45 percent of the state's general revenues. By contrast, [[Alaska state budget and finances#Federal aid to state budget|Alaska]] received roughly $2.9 billion in federal aid in 2012, just under 20 percent of the state's general revenues.<ref name=federalaid>[http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=COG_2012_FIN009&prodType=table ''United States Census Bureau'', "State Government Finances: 2012," accessed February 24, 2014]</ref>
  
State governments receive aid from the federal government to fund a variety of joint programs, such as Medicaid. Federal aid varies considerably from state to state. For example, [[Mississippi state budget#Federal aid to state budget|Mississippi]] received approximately $7.7 billion in federal aid in 2012, which accounted for more than 45 percent of the state's general revenues. By contrast, [[Alaska state budget#Federal aid to state budget|Alaska]] received roughly $2.9 billion in federal aid in 2012, just under 20 percent of the state's general revenues.<ref name=federalaid/>
+
The table below notes what share of Wisconsin’s general revenues came from the federal government in 2012. That year, Wisconsin received approximately '''$8.9 billion in federal aid''', 28.2 percent of the state's total general revenues. Figures from surrounding states are provided for additional context.<ref name=federalaid/>
  
{| class="wikitable" style="text-align:center; width:50%;"
+
{| class="wikitable collapsible sortable" style="background:none; text-align:center; width:60%;"
! colspan="4" align="center" style="background-color:#008000; color: white;" | Federal aid to state budgets in 2012
+
! colspan="4" align="center" style="background-color:#2b3773; color: white;" |Federal aid to state budgets, 2012
 
|-
 
|-
 
! valign="bottom" style="background-color:#444; color: white;" | State
 
! valign="bottom" style="background-color:#444; color: white;" | State
! valign="bottom" style="background-color:#444; color: white;" | Federal aid as % of general revenue
+
! valign="bottom" style="background-color:#444; color: white;" | Total federal aid ($ in thousands)
! valign="bottom" style="background-color:#444; color: white;" | Total federal aid
+
! valign="bottom" style="background-color:#444; color: white;" | Federal aid as a % of general revenue
! valign="bottom" style="background-color:#444; color: white;" | National rank
+
! valign="bottom" style="background-color:#444; color: white;" | Ranking
|-
+
| '''Wisconsin''' || '''28.19%''' || '''$8,855,079,000''' || '''38'''
+
 
|-
 
|-
| [[Illinois state budget|Illinois]] || 25.66% || $15,646,844,000 || 43
+
| [[Wisconsin state budget and finances|Wisconsin]]||'''$8,855,079'''||28.19%||38
 
|-
 
|-
| [[Iowa state budget|Iowa]] || 33.27% || $6,073,376,000 || 25
+
| [[Illinois state budget and finances|Illinois]]||$15,646,844||25.66%||43
 
|-
 
|-
| [[Michigan state budget|Michigan]] || 33.74% || $17,849,942,000 || 24
+
| [[Iowa state budget and finances|Iowa]]||$6,073,376||33.08%||26
 
|-
 
|-
| [[Minnesota state budget|Minnesota]] || 28.13% || $9,608,018,000 || 39
+
| [[Michigan state budget and finances|Michigan]]||$17,849,942||33.76%||24
 
|-
 
|-
 +
| [[Minnesota state budget and finances|Minnesota]]||$9,608,018||28.13%||39
 +
|-class="sortbottom"
 +
| colspan="4" style="text-align:left; line-height:135%;" | <small>'''Source''': [http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=COG_2012_FIN009&prodType=table ''United States Census Bureau'', "State Government Finances: 2012," accessed February 24, 2014]</small>
 
|}
 
|}
 
 
 
===Stimulus===
 
===Stimulus===
Wisconsin received $3.63 billion in federal funding between February 2009 and June 2013.<ref>[http://www.recovery.gov/Pages/default.aspx ''Recovery.gov'', "Stimulus Spending by State," accessed February 21, 2014]</ref>
+
According to [http://www.recovery.gov/ Recovery.gov], the official government website for the Recovery Accountability and Transparency Board, under the [[American Recovery and Reinvestment Act]], Wisconsin received $3.63 billion in federal funding between February 2009 and June 2013.<ref>[http://www.recovery.gov/Pages/default.aspx ''Recovery.gov'', "Stimulus Spending by State," accessed February 21, 2014]</ref>
  
==Budget transparency==
+
==Budget process==
{| class="wikitable" style="float:right; margin:1em 1em 1em 1em; text-align:center; width:15%;"
+
{{Wisconsin budget process}}
! colspan="2" align="center" style="background-color:#008000; color: white;" | Transparency evaluation
+
|-
+
! valign="bottom" style="background-color:#444; color: white;" |
+
! valign="bottom" style="background-color:#444; color: white;" | Contract Sunshine
+
|-
+
|[[Criteria for evaluating databases|Searchability]] || {{No (Sunshine Review)}}  
+
|-
+
|[[Criteria for evaluating databases|Grants]] || {{No (Sunshine Review)}}
+
|-
+
|[[Criteria for evaluating databases|Contracts]] || {{Yes (Sunshine Review)}}
+
|-
+
|[[Criteria for evaluating databases|Line item expenditures]] || {{No (Sunshine Review)}}
+
|-
+
|[[Criteria for evaluating databases|Dept./agency budgets]] || {{No (Sunshine Review)}}
+
|-
+
|[[Criteria for evaluating databases|Public employee salaries]] || {{No (Sunshine Review)}}
+
|-
+
|colspan="2"|<small>Last evaluated in 2011.</small>
+
|}
+
::''See also: [[Evaluation of Wisconsin state website]] and [[Constitutional provisions regarding reading of bills]]''
+
  
===Government tools===
+
===Agencies, offices and committees===
Wisconsin's [http://legis.wisconsin.gov/2005/data/acts/05Act410.pdf Contract Sunshine Act] called for the creation and maintenance of an Internet site so that anyone could access information about every state contract, purchase, and solicitation of bids or proposals that involved an annual expenditure of $10,000 or more. The site, [http://sunshine.wi.gov/ Contract Sunshine], launched in 2007.  In 2011, a state audit found the site to be of "limited value" and sometimes erroneous.<ref>[http://www.jsonline.com/news/statepolitics/128802018.html ''The Milwaukee Journal Sentinel'', "Audit says state informational website is of limited value," August 31, 2011]</ref>
+
There are three major standing committees in the [[Wisconsin State Legislature]] that deal with budget and finance matters: the [[Finance Committee, Wisconsin State Senate|Senate Finance Committee]], the [[Finance Committee, Wisconsin State Assembly|Assembly Finance Committee]] and the [[Joint Finance Committee, Wisconsin State Legislature|Joint Finance Committee]].
  
The table to the right is helpful in evaluating the level of transparency provided by [http://sunshine.wi.gov/ Contract Sunshine].
+
The [[Wisconsin State Auditor]] leads the state's Legislative Audit Bureau. The auditor is appointed by the legislature's Joint Committee on Legislative Organization. The auditor "shall at all times with or without notice have access to all state departments and to any books, records or other documents maintained by such agencies and relating to their expenditures, revenues, operations and structure." The office is nonpartisan.<ref>[http://legis.wisconsin.gov/lab/agencyInfo.htm ''Wisconsin State Legislative Audit Bureau,'' "Agency Information," accessed March 9, 2015]</ref>
  
===Multi-measure budget transparency profile===
+
The [[Wisconsin Treasurer]] serves as the state's chief banking officer. The state treasurer is elected every four years in partisan elections.
The Institute of Government and Public Affairs at the University of Wisconsin created a multi-measure transparency profile for Wisconsin, which measured state transparency as of September 2011 using indicators from a range of organizations.  These indicators measured both website transparency and other recognized facets of governmental transparency.  In addition, IGPA presented four unique indicators of non-transparency based on the observation that transfers or reassignments between general and special funds can obscure the true fiscal condition of a state.<ref>[http://igpa.uillinois.edu/ ''Institute of Government and Public Affairs at University of Wisconsin'', "Home page," accessed February 21, 2014]</ref><ref name=allstates>[http://igpa.uillinois.edu/system/files/50_States_Transparency_Profiles.pdf ''Institute of Government and Public Affairs at University of Wisconsin'', "Budget Transparency Profiles - All 50 States," September 2011]</ref>
+
 
+
IGPA devised a budget transparency index based on information available from the National Association of State Budget Officers. Wisconsin tied for 33rd in the nation with 12 other states, earning four out of eight possible points.<ref name=allstates/>
+
 
+
{| class="wikitable" style="text-align:center; width:55%;"
+
! colspan="2" align="center" style="background-color:#008000; color: white;" | Wisconsin - IGPA score for budget process, contents and disclosure
+
|-
+
! valign="bottom" style="background-color:#444; color: white;" | Budget transparency indicator
+
! valign="bottom" style="background-color:#444; color: white;" | Yes or no?
+
|-
+
| Performance measures || {{Yes}}
+
|-
+
| "Generally Accepted Accounting Principles" budget || {{no (Sunshine Review)}}
+
|-
+
| Multi-year forecasting || {{Yes}}
+
|-
+
| Annual cycle || {{no (Sunshine Review)}}
+
|-
+
| Binding revenue forecast || {{no (Sunshine Review)}}
+
|-
+
| Legislative revenue forecast || {{Yes}}
+
|-
+
| Non-partisan staff ||  {{Yes}}
+
|-
+
| Constitution or statutory tax/spend limitations || {{No (Sunshine Review)}}
+
|-
+
| '''TOTAL''' || '''4'''
+
|-
+
|}
+
In addition to the individual state profile, IGPA offers a 50-state comparison and profiles for other states.<ref name=allstates/>
+
  
 +
==Studies and reports==
 
===U.S. PIRG "Following the Money" report===
 
===U.S. PIRG "Following the Money" report===
 
{{Following the Money 2014 Report by State|State=Wisconsin|Grade=A-|Score=90|Level=leading}}
 
{{Following the Money 2014 Report by State|State=Wisconsin|Grade=A-|Score=90|Level=leading}}
  
==Accounting principles==
+
==Budget and finance ballot measures==
::''See also: [[Wisconsin government accounting principles]]''
+
::See also: ''[[State and local government budgets, spending and finance on the ballot|Spending and finance on the ballot]] and [[List of Wisconsin ballot measures]]''
 +
{{#dpl:
 +
|category = State and local government budgets, spending and finance, Wisconsin
 +
|notnamespace = Category
 +
|titlematch= Wisconsin%
 +
|suppresserrors=true
 +
|noresultsheader = Ballotpedia has tracked no ballot measures relating to state and local budget and finance matters in Wisconsin
 +
|format = ,\n#[[%PAGE%{{!}}%TITLE%]],,
 +
|resultsheader = Ballotpedia has tracked %PAGES% ballot measures relating to state and local budget and financial matters in Wisconsin.
 +
}}
  
The Wisconsin Legislative Audit Bureau is a nonpartisan legislative service agency created to assist the [[Wisconsin State Legislature]] in maintaining oversight of state operations. The Bureau conducts objective audits and evaluations of state agency operations to ensure financial transactions have been made in a legal and proper manner and to determine whether programs are administered effectively, efficiently, and in accordance with the policies of the legislature and the governor. The results of these evaluations are provided to the legislature, along with recommendations for improvements in agency operations. The Legislative Audit Bureau was created by Chapter 659, Laws of Wisconsin 1965. Prior to the creation of the Bureau, financial audits were performed by the Department of State Audit, an executive branch department created in 1947. The Legislative Audit Bureau is organized into four sections: Financial Audit, Program Evaluation, Information Systems Support, and Administrative Services.<ref>[http://www.legis.wisconsin.gov/lab/ ''The Wisconsin Legislative Audit Bureau Website'', accessed November 18, 2009]</ref> 
+
==Recent news==
 
+
This section displays the most recent stories in a Google news search for the term "'''Wisconsin + budget'''"
The Institute for Truth in Accounting (IFTA) rates Wisconsin “timely” in filing the state’s [[Comprehensive Annual Financial Report]] (CAFR) – the annual report of state and local governmental entities. IFTA rated 22 states timely, 22 states tardy, and six states as worst. IFTA does not consider Wisconsin's CAFRs, and those of the other states, to be accurate representations of the state’s financial condition because the Generally Accepted Accounting Principles (GAAP) basis does not include significant liabilities for the pension plans and for other post employment benefits, such as health care. Wisconsin's CAFRs are publications of the Wisconsin Department of Administration, Division of Executive Budget and Finance, State Controller's Office.<ref>[http://www.statedatalab.org/state_data_and_comparisons/detail/wisconsin IFTA ''State Data Lab'', "Wisconsin," accessed September 17, 2013]</ref><ref>[http://truthinaccounting.org/news/listing_article.asp?section=451&section2=451&CatID=3&ArticleSource=567 ''Institute for Truth in Accounting'', “The Truth About Balanced Budgets—A Fifty State Study,” Page 35]</ref><ref>[http://www.doa.state.wi.us/ ''Wisconsin Department of Administration Website'', accessed November 18, 2009]</ref>
+
:''All stories may not be relevant to this page due to the nature of the search engine.''
 
+
{{RSS|feed=http://news.google.com/news?hl=en&gl=us&q=Wisconsin+budget&um=1&ie=UTF-8&output=rss|template=slpfeed|max=10|title=Wisconsin state budget news feed}}
===Issues===
+
In January 2012, an issue arose regarding the state's accounting principles. Under cash basis accounting, which the state uses, [[Governor of Wisconsin|Governor]] [[Scott Walker]] announced that the state budget was balanced. In January 2012, however, state officials certified to federal government officials that under Generally Accepted Accounting Principles (GAAP), the state would have a deficit. Under GAAP, the state's promises to pay money in the future are taken into account, whereas they are not in cash basis accounting. This so-called GAAP deficit has occurred for years in state government. Former governor [[Jim Doyle]] also said they balanced the budget on a cash basis while the GAAP deficit remained.<ref>[http://www.jsonline.com/news/statepolitics/does-wisconsin-have-a-budget-deficit-4o3s9ro-137863973.html ''The Milwaukee Journal Sentinel'', "Does Wisconsin have a budget deficit?" January 22, 2012]</ref>
+
 
+
==Contact information==
+
State Budget Office<br>
+
101 E Wilson Street, 10th Floor<br>
+
Madison, WI  53703<br>
+
Phone: 608-266-1353<br>
+
http://www.doa.state.wi.us/Divisions/Budget-And-Finance/State-Budget-Office
+
  
 
==See also==
 
==See also==
 +
* [[Historic Wisconsin budget and finance information]]
 +
* [[Tax policy in Wisconsin]]
 
* [[Wisconsin government sector lobbying]]
 
* [[Wisconsin government sector lobbying]]
 
* [[Wisconsin public pensions]]
 
* [[Wisconsin public pensions]]
 
* [[Governor of Wisconsin]]
 
* [[Governor of Wisconsin]]
* [[Wisconsin State Legislature]]
 
 
* [[Wisconsin State Senate]]
 
* [[Wisconsin State Senate]]
* [[Wisconsin State Assembly]]
+
* [[Wisconsin House of Representatives]]
 +
* [[Wisconsin State Legislature]]
  
 
==External links==
 
==External links==
 
*[http://www.statebudgetsolutions.org/state/detail/Wisconsin State Budget Solutions, Wisconsin]
 
*[http://www.statebudgetsolutions.org/state/detail/Wisconsin State Budget Solutions, Wisconsin]
*[http://www.showmethespending.org/uploads/Taxpayer_Transparency_Act.pdf American Legislative Exchange Council]
 
 
*[http://www.wpri.org/ Wisconsin Policy Research Institute]
 
*[http://www.wpri.org/ Wisconsin Policy Research Institute]
*[http://lburnsinstitute.org/ Lucy Burns Institute]
 
 
*[http://www.taxpayersnetwork.org/DesktopDefault.aspx Taxpayers Network Incorporated]
 
*[http://www.taxpayersnetwork.org/DesktopDefault.aspx Taxpayers Network Incorporated]
 
*[http://www.doa.state.wi.us/ Wisconsin Department of Administration]
 
*[http://www.doa.state.wi.us/ Wisconsin Department of Administration]
*[http://www.doa.state.wi.us/debf/execbudget.asp Wisconsin Executive Budget, 2007-2009]
 
*[http://ethics.state.wi.us/ContractSunshine/ContractSunshineAgentListings.html State Contract Information]
 
 
*[http://crgnetwork.com/ Citizens for Responsible Government Network]
 
*[http://crgnetwork.com/ Citizens for Responsible Government Network]
 
*[http://milwaukeecounty.headquarters.com/ Government Accountability in Spending Project]
 
*[http://milwaukeecounty.headquarters.com/ Government Accountability in Spending Project]
Line 436: Line 360:
 
{{Wisconsin}}
 
{{Wisconsin}}
  
[[category:Wisconsin]]
+
[[Category:Wisconsin state budget and finances]]
[[Category:Budget information by state]]
+

Latest revision as of 11:51, 20 March 2015


Wisconsin budget and finances
Policypedia Budget Policy-logo-no background.png
General information
Budget calendar:
Biennial
Fiscal year:
2015
State credit rating:
AA (as of 2014)
Current governor:
Scott Walker
Financial figures
Total spending (state and federal funds):
$44.9 billion (estimated for 2014)
Per capita spending:
$7,797.22 (estimated for 2014)
Total state tax collections:
$16.5 billion (2013)
Per capita tax collections:
$2,877.02 (2013)
State debt:
$45.0 billion (as of 2014)
Per capita state debt:
$7,863 (as of 2014)
State budgets and finances
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Horizontal-Policypedia logo-color.png
Total state expendituresState debtTax policy in Wisconsin
Note: This page utilizes information from a variety of sources. As such, the currency of the information varies somewhat. The information presented on this page reflects the most recent data available as of February 2015.
Between fiscal years 2013 and 2014, total government spending in Wisconsin increased by approximately $2.1 billion, from $42.8 billion in fiscal year 2013 to an estimated $44.9 billion in 2014. This represents a 5 percent increase. The cumulative rate of inflation during the same period was 1.58 percent, calculated using the Consumer Price Indices for January 2013 and January 2014. As of 2014, financial services firm Standard and Poor's had assigned Wisconsin a AA credit rating.[1][2][3]
In fiscal year 2014, estimated per capita spending in Wisconsin ranked ninth in the nation at $7,797. In 2013, individual income taxes accounted for nearly 44 percent of total state government tax collections.

Spending

Definitions

The information below comes from the National Association of State Budget Officers (NASBO). These spending figures are broken into three broad categories in order to facilitate comparison between the states.[3]

  • State funds: State funds include general and other state-based funds. A general fund is "the predominant fund for financing a state's operations." Other state funds are "restricted by law for particular governmental functions or activities."
  • Federal funds: Federal funds are "funds received directly from the federal government."
  • Total spending: Total spending is calculated by adding together the totals for state and federal funds.

These figures exclude spending from the sale of bonds.

2014 expenditures

See also: Total state expenditures

The table below breaks down estimated spending totals for fiscal year 2014 (comparable figures from surrounding states are included to provide additional context). Figures for all columns except "Population” and “Per capita spending" are rendered in millions of dollars (for example, $2,448 translates to $2,448,000,000). Figures in the columns labeled "Population” and “Per capita spending" have not been abbreviated.[3]

Total estimated spending in Wisconsin in 2014 was $44.9 billion. Wisconsin's estimated per capita spending in 2014 was $7,797, higher than that of any neighboring states.

Total estimated state spending, FY 2014 ($ in millions)
State State funds Federal funds Total spending Population Per capita spending
Wisconsin $33,887 $11,006 $44,893 5,757,564 $7,797.22
Illinois $50,392 $19,964 $70,356 12,880,580 $5,462.18
Iowa $13,957 $6,122 $20,079 3,107,126 $6,462.24
Michigan $30,605 $20,632 $51,237 9,909,877 $5,170.30
Minnesota $25,861 $9,492 $35,353 5,457,173 $6,478.26
Per capita figures are calculated by taking the state's total spending and dividing by the number of state residents according to United States Census estimates.[4]
Source: National Association of State Budget Officers

Spending by function

Breakdown of spending by function in FY 2013
Source: National Association of State Budget Officers
See also: State spending by function as a percent of total expenditures

State spending in Wisconsin can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2013 information is included in the table below (information from neighboring states is provided for additional context). Figures are rendered as percents, indicating the share of the total budget spent per category.[3]

In 2013, Medicaid accounted for 17.2 percent of total state spending in Wisconsin, a smaller share than in any neighboring state.

State spending by function as a percent of total expenditures, FY 2013
State K-12 education Higher education Public assistance Medicaid Corrections Trans-
portation
Other
Wisconsin 16.2% 14.3% 0.3% 17.2% 2.9% 6.9% 42.1%
Illinois 13.3% 3.7% 0.3% 23.8% 2.1% 8.4% 48.4%
Iowa 16.4% 26% 0.5% 19.8% 2.1% 6.8% 28.3%
Michigan 27.2% 4.2% 0.7% 26.4% 4.6% 7.8% 29%
Minnesota 29.2% 4.7% 1.4% 24.3% 1.5% 10.7% 28.2%
Source: National Association of State Budget Officers
Note: "Other" expenditures include "Children's Health Insurance Program (CHIP), institutional and community care for the mentally ill and developmentally disabled, public health programs, employer contributions to pensions and health benefits, economic development, environmental projects, state police, parks and recreation, housing and general aid to local governments."[3]

Spending trends

Between 2009 and 2013, the share of the Wisconsin state budget spent on K-12 education decreased from 18.6 percent to 16.2 percent. See the table below for further details (figures are rendered as percents, indicating the share of the total budget spent per category).[3][5][6][7][8]

Spending by function from 2009 to 2013 (as percents)
Year K-12 education Higher education Public assistance Medicaid Corrections Transportation Other
2013 16.2% 14.3% 0.3% 17.2% 2.9% 6.9% 42.1%
2012 16.7% 14.1% 0.4% 16.5% 2.9% 6.9% 42.5%
2011 17.3% 13.7% 0.3% 17.0% 3.0% 6.4% 42.2%
2010 18.1% 12.3% 0.3% 17.1% 3.1% 7.1% 41.9%
2009 18.6% 12.5% 0.2% 15.4% 3.3% 7.5% 42.4%
Source: National Association of State Budget Officers
Note: "Other" expenditures include "Children's Health Insurance Program (CHIP), institutional and community care for the mentally ill and developmentally disabled, public health programs, employer contributions to pensions and health benefits, economic development, environmental projects, state police, parks and recreation, housing and general aid to local governments."[3]

Revenues

2013 revenues

See also: State government tax collections by source

The table below breaks down state government tax collections by source in 2013 (comparable figures from surrounding states are also provided to give additional context). Figures for all columns except "population" and "per capita revenue" are rendered in thousands of dollars (for example, $2,448 translates to $2,448,000). Figures in the columns labeled "population" and "per capita revenue" have not been abbreviated).[9]

In 2013, state tax collections in Wisconsin totaled $16.5 billion. Per capita tax collections in Wisconsin totaled $2,877.

State tax collections by source ($ in thousands)
State Property taxes Sales and gross receipts Licenses Individual income taxes Corporation net income taxes Other taxes Total 2013 population Per capita collections
Wisconsin $148,600 $7,088,411 $1,035,743 $7,227,690 $955,752 $66,416 $16,522,612 5,742,953 $2,877.02
Illinois $61,806 $14,705,739 $2,583,108 $16,538,662 $4,462,627 $363,378 $38,715,320 12,890,552 $3,003.39
Iowa N/A $3,608,991 $798,137 $3,436,758 $428,554 $101,936 $8,374,376 3,092,341 $2,708.10
Michigan $1,954,898 $12,268,026 $1,454,634 $8,239,086 $900,667 $265,343 $25,082,654 9,898,193 $2,534.06
Minnesota $821,799 $8,289,780 $1,184,465 $8,950,755 $1,363,128 $421,882 $21,031,809 5,422,060 $3,878.93
Source: Tax Policy Center, "State Tax Collection Sources 2000-2013," June 20, 2014
Wisconsin tax collections by source in 2013
Source: Tax Policy Center

The table below lists 2013 tax collections by source as percentages of total collections. In Wisconsin, individual income tax collections accounted for 43.7 percent of total collections, a greater share than in any neighboring state.[9]

State tax collections by source (as percentages)
State Property taxes Sales and gross receipts Licenses Individual income taxes Corporation net income taxes Other taxes
Wisconsin 0.90% 42.90% 6.27% 43.74% 5.78% 0.40%
Illinois 0.16% 37.98% 6.67% 42.72% 11.53% 0.94%
Iowa N/A 43.10% 9.53% 41.04% 5.12% 1.22%
Michigan 7.79% 48.91% 5.80% 32.85% 3.59% 1.06%
Minnesota 3.91% 39.42% 5.63% 42.56% 6.48% 2.01%
Source: Tax Policy Center, "State Tax Collection Sources 2000-2013," June 20, 2014

Current fiscal year budget

See also: Historic Wisconsin budget and finance information

Fiscal years 2014 and 2015

DocumentIcon.jpg See budget bill: Act 20

Wisconsin state budget -- 2014 and 2015
Wisconsin State Legislature
Text:Act 20
Legislative history
Introduced:February 20, 2013
House:June 18, 2013
Vote (lower house):55-42
Senate:June 21, 2013
Vote (upper house):17-16
Governor:Scott Walker
Signed:June 30, 2013
Vetoed:Partial

On June 30, 2013, Governor Scott Walker signed Assembly Bill 40, the budget bill for the July 1, 2013, to June 30, 2015, biennium passed by the Wisconsin State Legislature, into law, making it Wisconsin Act 20.[10] The new biennium started with a $670 million surplus, which was the state's largest opening balance in over a decade. The Rainy Day Fund had also restored some of its depleted funds, bringing the balance to over $243 million, which was its highest balance on record.[11]

The governor made 57 vetoes to the budget bill before signing it into law. According to Walker, these vetoes removed unnecessary reports and requirements, clarified program intentions and timelines and promoted efficient administration. In total, the vetoes cut spending by $865,000.[11]

State debt

See also: State debt

According to a January 2014 report by the nonprofit organization State Budget Solutions, Wisconsin had a state debt of approximately $45 billion. Its state debt per capita was $7,863. The report revealed that state governments faced a combined $5.1 trillion in debt. The obligation amounted to $16,178 per capita in the nation.[12]

Total state debt, 2014
State Total state debt State debt per capita Per capita debt ranking
Wisconsin $45,026,643,000 $7,863 47
Illinois $321,354,115,000 $24,959 5
Iowa $37,783,060,000 $12,290 38
Michigan $142,668,026,000 $14,435 25
Minnesota $85,879,526,000 $15,965 21
Sources: State Budget Solutions, "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014

Public pensions

See also: Wisconsin public pensions and Wisconsin public employee salaries

A 2012 report from the Pew Center on the States noted that Wisconsin's pension system was fully funded at the close of fiscal year 2010. Consequently, Pew designated the state's pension system as a "solid performer."[13]

Taken together, the funding ratio for the state's pension system increased from 99.6 percent in fiscal year 2006 to 99.9 percent in fiscal year 2011, an increase of 0.3 percentage points, or approximately 0.3 percent. Likewise, unfunded liabilities decreased from $320.5 million in fiscal year 2006 to $99.3 million in fiscal year 2011.

Credit ratings

See also: State credit ratings

Credit rating agencies, such as Standard and Poor's, assign grades to states that take into account a state's ability to pay debts and the general health of the state's economy. Generally speaking, a higher credit rating indicates lower interest costs on the general obligation bonds states sometimes sell to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). This in turn results in lower interest costs, thereby lowering the cost to taxpayers.[14][15]

The table below lists the Standard and Poor's credit ratings for Wisconsin and surrounding states from 2004 to 2014. Standard and Poor's grades range from AAA, the highest available, to BBB, the lowest.[16]

State credit ratings, 2004 to 2014
State 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Wisconsin AA AA AA AA AA AA AA AA- AA- AA- AA-
Illinois A- A- A A+ A+ A+ AA AA AA AA AA
Iowa AAA AAA AAA AAA AAA AAA AAA AA+ AA+ AA+ AA+
Michigan AA- AA- AA- AA- AA- AA- AA- AA- AA AA AA+
Minnesota AA+ AA+ AA+ AAA AAA AAA AAA AAA AAA AAA AAA
Source: Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014

Federal aid to state budget

See also: Federal aid to state budgets

State governments receive aid from the federal government to fund a variety of joint programs, such as Medicaid. Federal aid varies considerably from state to state. For example, Mississippi received approximately $7.7 billion in federal aid in 2012, which accounted for more than 45 percent of the state's general revenues. By contrast, Alaska received roughly $2.9 billion in federal aid in 2012, just under 20 percent of the state's general revenues.[17]

The table below notes what share of Wisconsin’s general revenues came from the federal government in 2012. That year, Wisconsin received approximately $8.9 billion in federal aid, 28.2 percent of the state's total general revenues. Figures from surrounding states are provided for additional context.[17]

Federal aid to state budgets, 2012
State Total federal aid ($ in thousands) Federal aid as a % of general revenue Ranking
Wisconsin $8,855,079 28.19% 38
Illinois $15,646,844 25.66% 43
Iowa $6,073,376 33.08% 26
Michigan $17,849,942 33.76% 24
Minnesota $9,608,018 28.13% 39
Source: United States Census Bureau, "State Government Finances: 2012," accessed February 24, 2014

Stimulus

According to Recovery.gov, the official government website for the Recovery Accountability and Transparency Board, under the American Recovery and Reinvestment Act, Wisconsin received $3.63 billion in federal funding between February 2009 and June 2013.[18]

Budget process

Wisconsin operates on a biennial budget cycle. The sequence of key events in the budget process is as follows:[19][20]

  1. Budget instruction guidelines are sent to state agencies in June.
  2. State agencies submit budget requests in September.
  3. The governor submits his or her proposed budget to the Wisconsin State Legislature in January.
  4. The legislature adopts a budget in June or July. A simple majority is needed to pass a budget.
  5. The biennial budget cycle begins in July.

Wisconsin is one of 44 states in which the governor has line item veto authority.[20]

The governor is constitutionally required to submit a balanced budget. In addition, the legislature is constitutionally required to pass a balanced budget.[20]

Agencies, offices and committees

There are three major standing committees in the Wisconsin State Legislature that deal with budget and finance matters: the Senate Finance Committee, the Assembly Finance Committee and the Joint Finance Committee.

The Wisconsin State Auditor leads the state's Legislative Audit Bureau. The auditor is appointed by the legislature's Joint Committee on Legislative Organization. The auditor "shall at all times with or without notice have access to all state departments and to any books, records or other documents maintained by such agencies and relating to their expenditures, revenues, operations and structure." The office is nonpartisan.[21]

The Wisconsin Treasurer serves as the state's chief banking officer. The state treasurer is elected every four years in partisan elections.

Studies and reports

U.S. PIRG "Following the Money" report

See also: "Following the Money" report, 2014

The U.S. Public Interest Research Group, a consumer-focused nonprofit organization based in Washington, D.C., released its annual report on state transparency websites in April 2014. The report, entitled "Following the Money," measured how transparent and accountable state websites are with regard to state government spending.[22] According to the report, Wisconsin received a grade of A- and a numerical score of 90, indicating that Wisconsin was "leading" in terms of transparency regarding state spending.[22]

Budget and finance ballot measures

See also: Spending and finance on the ballot and List of Wisconsin ballot measures

Ballotpedia has tracked 33 ballot measures relating to state and local budget and financial matters in Wisconsin.

  1. Wisconsin Aeronautical Program Funding Amendment, Question 2 (April 1945)
  2. Wisconsin Appropriation Bill Item Veto Amendment, Question 1 (1930)
  3. Wisconsin City Debt Limit Amendment, Question 1 (April 1951)
  4. Wisconsin City and County Land Debt Amendment, Question 1 (1912)
  5. Wisconsin Claims Against State Limit Amendment, Question 2 (1877)
  6. Wisconsin Forestry Funding and Taxes Amendment, Question 3 (April 1968)
  7. Wisconsin Local Debt Limit Amendment, Question 1 (1874)
  8. Wisconsin Local Debt Limit and School Bonds Amendment, Question 2 (April 1963)
  9. Wisconsin Local Debt Limit for Large Counties, Question 1 (1960)
  10. Wisconsin Local Debt Limit for School Districts Amendment, Question 1 (April 1961)
  11. Wisconsin Local Government Debt Limit Public Utility Exemption Amendment, Question 3 (April 1966)
  12. Wisconsin Municipal Debt Limit Exclusion Amendment, Question 1 (April 1975)
  13. Wisconsin Municipal Debt Limit Increase Amendment, Question 1 (April 1976)
  14. Wisconsin Municipal Public Utility Debt Amendment, Question 3 (1924)
  15. Wisconsin Port Improvement Funding Amendment, Question 1 (April 1960)
  16. Wisconsin Property Valuation for Local Debt Limit Amendment, Question 2 (April 1964)
  17. Wisconsin Public Debt Amendment, Question 2 (April 1969)
  18. Wisconsin Public Debt for Veterans Housing Amendment, Question 3 (April 1975)
  19. Wisconsin Public Highway Funding Amendment, Question 2 (1908)
  20. Wisconsin Public Parks Amendment, Question 2 (1912)
  21. Wisconsin Public Television Advisory, Question 2 (1954)
  22. Wisconsin Public Utility Financing Amendment, Question 4 (1932)
  23. Wisconsin Railroad Improvement Funding Amendment, Question 1 (April 1992)
  24. Wisconsin Recreational Land Bonds, Question 5 (April 1969)
  25. Wisconsin School Debt Limit Amendment, Question 1 (April 1955)
  26. Wisconsin State Auditing Amendment, Question 1 (1946)
  27. Wisconsin State Control and Funding of Vocational Education, Question 3 (April 1969)
  28. Wisconsin State Forest Funding Amendment, Question 2 (1924)
  29. Wisconsin Transportation Facility Improvement Funding Amendment, Question 2 (1976)
  30. Wisconsin Transportation Facility Improvement Funding Amendment, Question 2 (April 1975)
  31. Wisconsin Transportation Fund Amendment, Question 1 (2014)
  32. Wisconsin Veterans' Housing Amendment, Question 1 (April 1949)
  33. Wisconsin Water Pollution Control Bonds, Question 4 (April 1969)

Recent news

This section displays the most recent stories in a Google news search for the term "Wisconsin + budget"

All stories may not be relevant to this page due to the nature of the search engine.

Wisconsin state budget news feed

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See also

External links

Additional reading

References

  1. Bureau of Labor Statistics, "CPI Detailed Report Data for February 2014," accessed April 9, 2014
  2. InflationData.com, "Cumulative Inflation Calculator," February 28, 2014
  3. 3.0 3.1 3.2 3.3 3.4 3.5 3.6 National Association of State Budget Officers, "State Expenditure Report: 2012-2014," accessed February 18, 2015
  4. United States Census Bureau, "State and County QuickFacts," accessed February 23, 2014
  5. National Association of State Budget Officers, "State Expenditure Report, 2009-2011," accessed February 24, 2014
  6. National Association of State Budget Officers, "State Expenditures Report, 2010-2012," accessed February 24, 2014
  7. National Association of State Budget Officers, "State Expenditure Report, 2009," accessed February 24, 2014
  8. National Association of State Budget Officers, "State Expenditure Report, 2008," accessed February 24, 2014
  9. 9.0 9.1 Tax Policy Center, "State Tax Collection Sources 2000-2013," June 20, 2014
  10. Wisconsin State Legislature, "Assembly Bill 40," accessed May 7, 2014
  11. 11.0 11.1 Wisconsin State Legislature, "Governor's Veto Message," July 1, 2013
  12. State Budget Solutions, "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014
  13. Pew Center on the States, "Widening Gap Update: Wisconsin," June 18, 2012
  14. Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2012," July 13, 2012
  15. Bankrate, "The 6 states with the worst credit ratings," September 27, 2012
  16. Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014
  17. 17.0 17.1 United States Census Bureau, "State Government Finances: 2012," accessed February 24, 2014
  18. Recovery.gov, "Stimulus Spending by State," accessed February 21, 2014
  19. National Conference of State Legislatures "State Experiences with Annual and Biennial Budgeting," updated April 2011
  20. 20.0 20.1 20.2 National Association of State Budget Officers "Budget Processes in the States, Summer 2008," accessed February 21, 2014
  21. Wisconsin State Legislative Audit Bureau, "Agency Information," accessed March 9, 2015
  22. 22.0 22.1 U.S. Public Interest Research Group, "Following the Money 2014 Report," accessed April 15, 2014