The end-of-year fund balances for the 541 Wisconsin cities and villages rose 24% from $2.79 billion in 2013 to $3.46 billion in 2018, according to data from the state Department of Revenue (DOR). COVID-19 has transformed the picture for local governments, increasing public health and other costs while threatening key municipal revenue streams like room taxes, charges for services (such as parking), permit and licensing fees, fines, investment earnings, and state aid.
Wisconsin Policy Forum reported on an analysis of the Comprehensive Annual Financial Reports or similar documents from Wisconsin’s 10 largest cities and found that unassigned general fund balances have risen for some cities in recent years but have fallen for others such as Milwaukee, likely leaving those cities and their residents more vulnerable in the current crisis.
