The biennial state budget report shall be prepared by the secretary, under the direction of the governor, and a copy of a budget-in-brief thereof shall be furnished to each member of the legislature on the day of the delivery of the budget message. The biennial state budget report shall be furnished to each member of the legislature on the same day and shall contain the following information:
(1) A summary of the actual and estimated receipts of the state government in all operating funds under existing laws during the current and the succeeding bienniums, classified so as to show the receipts by funds, organization units and sources of income.
(2) A summary of the actual and estimated disbursements of the state government from all operating funds during the current biennium and of the requests of agencies and the recommendations of the governor for the succeeding biennium.
(3) A statement showing the condition of all operating funds of the treasury at the close of the preceding fiscal year and the estimated condition at the close of the current year.
(4) A statement showing how the total estimated disbursements during each year of the succeeding biennium compare with the estimated receipts, and the additional revenues, if any, needed to defray the estimated expenses of the state.
(5) A statement of the actual and estimated receipts and disbursements of each department and of all state aids and activities during the current biennium, the departmental estimates and requests, and the recommendations of the governor for the succeeding biennium. Estimates of expenditures shall be classified to set forth such expenditures by funds, organization units, appropriation, object and activities at the discretion of the secretary.
(5g) A summary of the information submitted to the department by state agencies under s. 16.423 .
(5m) A statement of estimated general purpose revenue receipts and expenditures in the biennium following the succeeding biennium based on recommendations in the budget bill or bills. The statement shall contain all of the following:
(a) For the 2nd year of the succeeding biennium, a comparison of the following:
1. The amount of moneys projected to be deposited in the general fund during the fiscal year that are designated as "Revenues and Transfers" in the summary in s. 20.005 (1) , as published in the biennial budget bill or bills, less the amount designated as the "Opening Balance" in the summary, and adjusted by any one-time deposit of revenues in the general fund.
2. The amount of moneys designated as "Total Expenditures" in the summary in s. 20.005 (1) , as published in the biennial budget bill or bills, adjusted by any one-time expenditure of general purpose revenue in excess of $5,000,000.
(b) An estimate of the cost of any provision in the biennial budget bill or bills that would, without the enactment of subsequent legislation, increase general purpose revenue expenditures or that would decrease the amount of revenues deposited in the general fund in the biennium following the succeeding biennium.
(c)
1. An estimate of the increase in general purpose revenue spending that will be required in the biennium following the succeeding biennium for all of the following:
a. General equalization school aids.
b. Appropriations to the department of corrections.
c. The medical assistance program under subch. IV of ch. 49 .
d. The amount designated as "Compensation Reserves" in the summary under s. 20.005 (1) , as printed in the revised schedule that is approved under s. 20.004 (2) for that fiscal biennium.
e. Public debt contracted under subchs. I and IV of ch. 18 .
2. For the purpose of making the calculation under subd. 1. , the secretary shall assume that the increase in general purpose revenue spending between the succeeding biennium and the biennium following the succeeding biennium for each of the items identified in subd. 1. a. to 1. e. is the same as that between the current biennium and the succeeding biennium for these items, as proposed in the biennial budget bill or bills.
(d) An estimate of the difference between the amount of tax revenues that will be deposited in the general fund in the biennium following the succeeding biennium and the amount of tax revenues that are deposited in the general fund in the succeeding biennium. For the purpose of making this calculation, the secretary shall:
1. Assume that the amount of tax revenues that are deposited in the general fund in the succeeding biennium is the amount designated as "Taxes" in the summary in s. 20.005 (1) , as published in the biennial budget bill or bills.
2. Assume that the annual increase in tax revenues that are deposited in the general fund in each fiscal year of the biennium following the succeeding biennium is the average of the annual increase for each of the 10 preceding fiscal years.
3. Adjust the estimate of the amount of tax revenues that are deposited in the general fund in the biennium following the succeeding biennium by any provision in the biennial budget bill or bills that would affect the amount of tax revenues that are deposited in the general fund in the biennium.
(e)
1. A comparison of the following:
a. The amount of moneys that are designated as "Revenues and Transfers" in the summary in s. 20.005 (1) , as published in the biennial budget bill or bills, and that are available for appropriation in the 2nd year of the succeeding biennium.
b. An amount that equals the sum of the amount of moneys designated as "Total Expenditures" in the summary in s. 20.005 (1) , as published in the biennial budget bill or bills, for the 2nd year of the succeeding biennium and the amount required to fund the increase in general purpose revenue spending in the biennium following the succeeding biennium for each of the items identified in par. (c) 1. a. to 1. e.
2. The secretary shall present this comparison in the format used for the statement of the condition of the general fund in the statement prepared under s. 20.005 (1) .
(f) A summary of the amount of additional general purpose revenues that will be available in the biennium following the succeeding biennium for increased expenditures or tax reductions, other than the amount calculated in par. (d) .
(6) Any explanatory matter which in the judgment of the governor or the secretary will facilitate the understanding by the members of the legislature of the state financial condition and of the budget requests and recommendations.
(7) The report of the department of revenue prepared under s. 16.425 , together with the purposes and approximate costs in lost revenue of each new or changed tax exemption device provided in the proposed budget. This information shall be integrated with the rest of the information in this section in such a manner as to facilitate to the fullest extent possible, direct comparisons between expenditure information and tax exemption device information, as defined in s. 16.425 .
(8) The estimate of the department of revenue under s. 73.03 (36) .
(9) A comparison of the state's budgetary surplus or deficit according to generally accepted accounting principles, as reported in any audited financial report prepared by the department for the most recent fiscal year, and the estimated change in the surplus or deficit based on recommendations in the biennial budget bill or bills. For the purpose of this calculation, the secretary shall increase or decrease the surplus or deficit by the amount designated as "Gross Balances" that appears in the 2nd year of the biennium in the summary in s. 20.005 (1) , as published in the biennial budget bill or bills.