07.14.16
Despite a stopgap spending measure enacted on June 30, 2016, State of Illinois appropriations for higher education remain below expenditures in fiscal year 2015—the last year the State had a complete...
Library
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...
12.23.15
The following were among the most highly read posts provided by the Institute for Illinois’ Fiscal Sustainability in 2015. Understandably, they represent the most closely followed Illinois fiscal issue of the year: the ongoing state budget impasse. The posts have been listed in...
12.03.15
As Illinois enters the sixth month of fiscal year 2016 without a budget, the backlog of unpaid group health insurance bills has reached more than $2 billion and is likely to grow much larger.
In the...
09.25.15
Revenue collected by the State of Illinois from the largest two areas of legal gaming in the State, riverboat casinos and lottery, both declined significantly in fiscal year 2015 while the State’s more recently implemented video gaming continued to grow. However, unlike previous years the gains...
04.10.15
A week after passing legislation to address a $1.6 billion budget deficit before the end of the fiscal year in June, the State swept $300 million into its operating accounts from funds designated to pay for annual transportation construction projects. An additional $200 million sweep of sales...
04.03.15
The State of Illinois recently enacted legislation designed to close a $1.6 billion budget gap for the fiscal year ending on June 30, 2015. This blog post reviews the causes of the operating deficit and examines Public Acts...
02.13.15
The State of Illinois reduces its operating resources by more than 25% annually to provide individuals and businesses tax benefits through exemptions also known as tax expenditures.
In FY2013, the most recent year that...