Thursday, January 19, 2017

Where is Wisconsin's current "business-like" financial report?

So if Wisconsin is really "open for business," as Scott Walker has repetitively claimed, where is the current, official Comprehensive Annual Financial Report which the state produces and "serves to present the State's financial position in a business-like manner."

Last year's wasn't so hot.

You can look at what's available for yourself; the last report posted by the Wisconsin Department of Administration on the relevant website has a transmittal letter dated December 17, 2015, so the 21016 report appears to be late: 
The State Controller's Office in the Department of Administration publishes the Comprehensive Annual Financial Report (CAFR) for each state fiscal year. The report is prepared on a Generally Accepted Accounting Principles (GAAP) basis.  The adoption of GAAP by the State of Wisconsin for financial reporting purposes serves to present the State’s financial position in a business-like manner. GAAP reporting accurately measures financial operations, fully discloses financial position, provides an externally accepted presentation, and provides information for financial managers.
The State of Wisconsin CAFR has received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) each year since state fiscal year 1996.

1 comment:

Jake formerly of the LP said...

I have wondered this myself. They've also failed to post the Walker Admin's document from November which gave the revenue estimates and budget requests, and had a $588 million deficit in it.

Magically, the good December revenue news was sent out yesterday by Walker's Dept if Revenue. Fancy that!