Gov. Tony Evers and the Wisconsin Department of Administration (DOA) announced that the state of Wisconsin ended fiscal year (FY) 2024 with a positive balance of $4.6 billion. In addition, the state saw its “rainy day” fund (Budget Stabilization Fund) increase to a record-high $1.9 billion, according to the new Annual Fiscal Report released by DOA.
The report, which ended on June 30, includes the following key items:
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While the state’s ending balance is $821.3 million higher than estimated, budget figures for FY 2024 included a $423.3 million transfer from the state General Fund to the Capital Improvement Fund that will occur in FY 2025.
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The current Budget Stabilization Fund balance is the largest figure in the state’s history and over $1.5 billion higher than the balance at the end of FY 2018.
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State General Fund tax collections in FY 2024 increased by 1.7% over the prior year and were 1.3% higher than estimated.
The full FY 2024 Annual Fiscal Report is available here.
