State’s general fund balance exceeds estimates by over $265 million, record-high ‘rainy day’ fund continues to grow
MADISON — Gov. Tony Evers today celebrated Wisconsin’s continued fiscal success and outlook despite continued national economic uncertainty and volatility. The Evers Administration today announced the state ended fiscal year (FY) 2025 with a positive ending balance of $4.6 billion in the General Fund—the state’s main checking account—exceeding previous estimates by over $265 million. Additionally, the state’s ‘rainy day’ fund, also known as the Budget Stabilization Fund, increased to approximately $2 billion. This is the largest balance in the ‘rainy day’ fund in state history, which has grown by over $1.6 billion under Gov. Evers’ leadership, more than six times what it was at the end of FY 2018, prior to the governor taking office.
“Over the past six years, we’ve been hard at work to provide real, responsible tax relief for middle-class folks and families, while still paying down our state’s debts and saving where we can—and it’s clear our hard work is paying off,” said Gov. Evers. “This is great news for our state’s financial future, especially given all of the national economic uncertainty and volatility we’re facing today. I look forward to continuing to work across the aisle to be good stewards of taxpayer dollars while making smart and strategic investments to protect the future that we’ve worked hard to build together.”
According to the Department of Administration (DOA), notably, the six largest ending General Fund balances in state history have all occurred in the six full fiscal years that Gov. Evers has been in office.
“We’re incredibly proud of the prudent fiscal management demonstrated under the guidance of Gov. Evers for the State of Wisconsin for six years straight,” said DOA Secretary Kathy Blumenfeld. “Being good stewards of Wisconsin taxpayers’ funds and ensuring we continue to set our state up for future financial success remain our highest priorities.”
The new Annual Fiscal Report released by DOA, which covers FY 2025 that ended on June 30, 2025, is available on DOA’s website here. Highlights of the report include:
- The state’s General Fund balance at the end of FY 2025 was $4.6 billion, nearly the same figure it was at the end of FY 2024, and over $265 million above budgeted estimates.
- The current State Budget Stabilization Fund, or ‘rainy day’ fund, balance increased to roughly $2 billion at the end of FY 2025, the largest figure in state history.
- State General Fund tax collections in FY 2025 totaled $22.4 billion, increasing by 4.8 percent over the prior year. FY 2025 tax collections were slightly higher than the most recent estimates projected in May 2025.
An online version of this release is available here.
