Wisconsin Predicted to Have Positive Balance in 2013

If all goes according to plan, the state of Wisconsin will have a small budget surplus at the end of the 2011-2013 biennial budget.

The non-partisan Legislative Fiscal Bureau (LFB) recently released its "Comparitive Summary of Budget Recommendation" in which it gives the net balances projected for the end of both fiscal years.

By June 30, 2012, the state should have a $8.4 million surplus compared to $9.4 million by June 30, 2013.

Representative Robin Vos (R-Rochester) sent out his regular email communication with constituents on Aug. 19 and he mentions the LFB's findings as well.

"It’s quite an accomplishment when you consider that we started with a $3.6 billion deficit," he writes.

Vos also includes two pie charts illustrating revenues and general expenditures. Here's how it shakes out:

Revenues

50% Income Taxes
30% Sales/Use Taxes
6% Corporate Taxes
14% Other

Expenditures

44% Education
31% HR
15% Shared Revenue
10% Other

Vos also writes that considering the $3.6 billion hole Wisconsin was in, even these projected small victories are proof that new policies are working.

"We set the right priorities for our state while maintaining essential state services," he said.

Further, the LFB lists the 10 largest fund programs in the state:

• Elementary and Secondary School Aids
• Medical Assistance
• UW System Correctional Operations
• Shared Revenues
• School Levy/First Dollar Tax Credits
• Appropriation Obligation Bonds
• Community and Juvenile Correctional Services
• Judicial and Legal Services Choice
• Charter School Programs