Press Release: Gov. Evers Announces $6.7 Billion Positive GAAP Balance in State’s General Fund for Fiscal Year 2022-23
State of Wisconsin sent this bulletin at 12/20/2023 02:05 PM CSTFOR IMMEDIATE RELEASE: December 20, 2023 |
Contact: GovPress@wisconsin.gov |
Gov. Evers Announces $6.7 Billion Positive GAAP Balance in State’s General Fund for Fiscal Year 2022-23 |
Report shows state has Generally Accepted Accounting Principles positive balance for fourth consecutive year in a row |
MADISON — Gov. Tony Evers today announced for the fourth consecutive year 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). Released today, the state’s Annual Comprehensive Financial Report (ACFR) shows the state’s GAAP balance increased by over 40 percent 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.
The significant increase in the state’s positive GAAP general fund balance reflects the continued improved financial position of the state in the 2022-23 fiscal year that resulted from significant budget reserves, record-ending fund balances, and excellent liquidity. For the fourth consecutive year, it is likely that the sustained considerable positive increase in the state’s GAAP general fund balance will be well received by investors. |
An online version of this release is available here. |
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