Gov. Tony Evers announced in a recent press release that the state’s General Fund recorded a positive balance at the end of the 2022–23 fiscal year using generally accepted accounting principles (GAAP). This is the fourth consecutive year with a positive balance. The state’s Annual Comprehensive Financial Report (ACFR) shows the state’s GAAP balance increased by over 40% from a positive balance of $4.6 billion at the end of the 2021–22 fiscal year to a new record high of $6.7 billion at the end of the 2022–23 fiscal year.
Other highlights of this year’s ACFR include:
- The state’s Transportation Fund balance increased by nearly $40 million to $1.4 billion; and
- The state’s total long-term debt decreased by over $175 million, which indicates the state repaid existing debt in excess of new debt being issued last year.
The increase in the state’s positive GAAP general fund balance reflects the continued improved financial position of the state that resulted from significant budget reserves, record-ending fund balances, and excellent liquidity.
The state’s ACFR for the 2022-23 fiscal year can be found here.
