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State tax collections continue to exceed projections

The new memo from the non-partisan Legislative Fiscal Bureau (LFB) shows tax collections are above the agency’s January estimates by $1.6 billion. This continues a trend of an exceptionally healthy state financial picture that will allow the state to invest in K-12 education and other priorities in the 2023-25 state budget if policymakers decide to do so. From the memo: (more…)

Report: WI continues to fall behind nation in public school investment

From WPR: “A new report from the Wisconsin Policy Forum found that Wisconsin hasn’t kept pace with national growth in public education spending.

“Wisconsin spent $12,740 per student on public elementary and secondary education in 2020, according to the latest data released by the U.S. Census Bureau. That’s almost 6 percent below the national average and ranks 25th in the nation for 2020. 

“Sara Shaw, senior education policy researcher for the Wisconsin Policy Forum, said Wisconsin only fell one ranking from 2019. But she said the decrease is the continuation of a larger trend over the last two decades. 

“In 2002, Wisconsin had the 11th highest per-pupil spending in the country.” (more…)

Gov. Evers announces plan to invest $611 million in K-12 education from state surplus

As part of an overall plan to address rising inflation and barriers to employment, the Governor is proposing $611 million to K-12 education following new projections indicating the state will have a $3.8 billion surplus at the end of the 2021-23 biennium—nearly $2.9 billion more than was expected in June 2021. The proposal now heads to the legislature for their consideration.

The $611 million for K-12 education would be invested as follows: (more…)

Newly released state fiscal estimate projects a whopping $2.9 billion increase in state’s general fund balance to $3.8 billion

A new report released today by the non-partisan Legislative Fiscal Bureau (LFB) projects Wisconsin’s closing, net general fund balance at the end of the current biennium (June 30, 2023) to be just over $3.8 billion. This is slightly more than $2.88 billion above the net balance that was projected last July when the 2021-23 biennial budget was signed into law.  You can view the report here.  The $3.8 billion balance is in addition to the $1.7 billion the state currently holds in its “rainy day” fund, known officially as the budget stabilization fund.

The $2.88 billion increase is the net result of:

            1. an increase of $2.51 billion in estimated tax collections;
            2. an increase of $33.1 million in departmental revenues (non-tax receipts deposited into the state’s general fund); and
            3. a decrease of $339.4 million in net appropriations.

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Governor announces release of $110 Million in federal funds for school districts

Gov. Tony Evers today announced the release of $110 million in federal coronavirus relief funds for Wisconsin school districts.  The release of the funds makes good on a pledge the governor made when he signed the 2021-2023 biennial budget into law earlier this year to invest more than $100 million in new, additional funding into Wisconsin’s schools.

The  $110 million investment announced today will be distributed on a per-pupil basis.  Every Wisconsin school district will receive an additional $133.72 in per pupil aid based on its three-year membership count used for calculating revenue limits.  A full list of the amounts to be received by school district is available here
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