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Gov. Scott Walker announces surplus for eighth year in row

Posted at 12:15 PM, Dec 21, 2018
and last updated 2018-12-21 13:15:11-05

MADISON, Wis. Gov. Scott Walker announced the state has ended the fiscal year with a surplus for the eighth consecutive year.

The most recent fiscal year ended with a $588.5 million surplus, according to the state’s 2018 Comprehensive Annual Financial Report, which was issued Thursday by the Wisconsin Department of Administration.

“Thanks to eight years of our strong financial management and growing economy, Wisconsin has ended every fiscal year we have been in office with a surplus,” Walker said in a news release. “We are leaving a $588.5 million surplus, allowing the state to enter [the next fiscal year] with the second-largest opening balance since 2000. We are leaving Wisconsin in the best financial condition in a generation. This is part of our legacy and it will continue to drive Wisconsin forward.”

The state deposited $33.1 million into the state Budget Stabilization Fund, according to the news release. The balance is now $320.1 million, the release reported.

State expenditures were $174 million less than budgeted in 2018.