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Fiscal year ends with oversized cash balance

October 24, 2014

The co-chairs of the budget-writing Joint Committee on Finance, State Senator Alberta Darling (R-River Hills) and State Representative John Nygren (R-Marinette) issued the following statement regarding the state’s half-billion dollar cash balance for the end of fiscal year 2014:

“Middle class Wisconsin families are thankful Republicans are watching out for their bottom line. We cut taxes by over $2 billion last session, we cut property taxes, we froze tuition and we paid off our debts. Wisconsin is better off, because we budgeted the way families throughout the state do — we are paying our bills and investing in the future.

“Republican reforms continue to improve state’s economy. Thanks to careful budgeting, Wisconsin ended fiscal year 2014 with a $516.9 million cash balance and our Rainy Day Fund is $280 million. Governor Walker saved taxpayers $98 million by tightening the belts of state agencies.

“Without question, Wisconsin is better off now than it was 4 years ago. Republicans will continue to fight for tax relief and reforms for the next 4 years.”