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HomeWisconsin Breaking NewsAudit: Wisconsin deficit erased, rainy day fund larger

Audit: Wisconsin deficit erased, rainy day fund larger

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The Legislative Audit Bureau this week released its review of the state’s financial statements from the 2019-2020 budget year. The audit states that Wisconsin has erased its general fund deficit. 

(The Center Square) – Republicans in the Wisconsin legislature are taking a victory lap after another report shows the state’s financial picture is improving. 

Republicans in both the Assembly and Senate cheered the news. 

“The General Fund’s total fund balance improved from a deficit of $763.1 million as of June 30, 2019, to a surplus of $1.5 million as of June 30, 2020,” auditors wrote. 

Sen. Chris Kapenga, R-Delafield, offered similar sentiments.

“I first ran for office in part because, as a Certified Public Accountant, I was astonished the state was using borderline fraudulent accounting methods,” Sen. Dale Kooyenga, R-Brookfield, said. “In 2010, Wisconsin was in the company of California, Illinois and New Jersey. Today we are fiscally solvent, we have been running budget surpluses, our pension system is nearly fully funded, and our rainy day fund is stronger than ever.”

Even Gov. Tony Evers chimed in to celebrate the news. 

“Turning around a big ship like Government takes time, perseverance and patience,” Kapenga said. “My fellow CPAs and I came in from the private sector to make a difference, and this is an example of how applying common sense to government budgeting can help the citizens we serve.”

But Republicans in Madison say it was their hard work rather than the governor’s that brought Wisconsin to this point. 

“Our diligence of investing in the issues Wisconsinit