08.31.18
With governments in Illinois facing steep increases in yearly pension contributions, new plans are being floated to borrow billions of dollars to stabilize ailing pension funds and relieve budgetary pressures.
The...
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05.05.16
The State of Illinois can add another complication to its already stressed financial condition, an $800.7 million shortfall in its capital spending plan caused by failure in several of the dedicated revenue sources enacted to fund debt service.
The State relies heavily on the sale of...
02.17.16
In recent years, Illinois’ delayed payment of bills has caused financial stress for vendors, social service agencies and local governments. It has also cost the State $1.0 billion in interest penalties since fiscal year 2006, according to data from the Illinois Comptroller’s Office.
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02.04.16
Based on available market data, the State of Illinois paid approximately $40 million more for the $480 million of new bonds it sold in January than it would have before its bond ratings were downgraded at the end of last year.
As previously...
06.19.14
Under Illinois law , the State is required to share a certain portion of state income tax receipts with municipal and county governments in Illinois through the Local Government Distributive...
06.29.12
Despite increased revenues from higher income tax rates and a slight improvement in tax receipts due to...
03.01.12
With new attention being paid to the cost of the State of Illinois’ Medicaid program, it seems logical to ask why the total annual costs of the program are not reflected in the State...
01.20.12
Six months after the end of the last fiscal year, the Illinois State Comptroller is reporting that $5.2 billion of FY2012 revenues were needed to pay off the State’s bills from...
12.29.11
In 2011 the IIFS blog provided weekly context, information and perspective on key fiscal issues in the State of Illinois. Posts in 2011 focused on analysis of FY2012 Illinois budget negotiations, analysis of the ongoing Illinois pension crisis and timely research on other fiscal issues impacting...
08.05.11
The State of Illinois’ plan to relieve some cash flow pressures in FY2011 by borrowing nearly $1 billion from its Special Funds to pay for operations netted less than half of that amount at the close of FY2011.
The interfund borrowing program,...