New fiscal projections from the Legislative Fiscal Bureau indicate the state is going to finish the 2015–17 budget cycle with less money than was expected.
State numbers released last week show the state’s original projected surplus of $164.5 million is far higher than the $70.2 million surplus it will most likely end up with.
Fiscal Bureau Director Bob Lang said the projections don’t include the $6 million cost of a bill Gov. Scott Walker is expected to sign overhauling the state’s civil service system. After the governor signs the measure, the balance will actually shrink to about $64 million.
The fiscal bureau said the reduction results from a decrease of nearly $160 million in estimated tax collection and a $29.5 million decrease in lapses to the general fund.
