Components of the hydrologic budget for a northern Wisconsin seepage lake were analyzed by applying correlation and regression techniques to monthly data. Analyses for the 1981-83 water years revealed a statistically significant, direct relationship between storage change and precipitation-evaporation balance. Ground-water outflow was negatively correlated with ground-water inflow, and this relationship was influenced by similar relationships for both hydraulic gradients and cross-sectional areas in outflow versus inflow regions of the lake. Neither ground-water outflow nor inflow was significantly related to precipitation, evaporation, storage change, or lake stage; this may reflect a lag in response time of the ground-water system compared to the lake. The results (1) emphasize the complexity of factors that influence ground-water interactions with seepage lakes and (2) suggest the importance of completing detailed hydrologic studies of these systems before mechanistic models, such as those developed to predict effects of acid deposition, are applied.