10.31.14
When the Illinois Jobs Now! capital spending program was approved in 2010 the State also approved a series of dedicated revenue sources intended to fund new borrowing costs outside the State operating budget. As previously sold capital bonds were retired, it was anticipated that the cost for new...
09.04.14
Information included in recent bond disclosures by the State of Illinois indicate that the pension obligation bonds (POBs) sold in 2003 primarily to boost the retirement systems’ assets have earned the minimum investment returns needed to break even in only seven of the last ten years.
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08.27.14
Businesses do not always pay their bills immediately, and neither do governments. Delays of a month or two are standard practice, although prompt payment is preferable to take advantage of discounts,...
05.09.14
As part of the FY2015 budget recommendation for the State of Illinois, Governor Pat Quinn provided two separate five-year projections for both “...
01.17.14
Although the most significant change in Illinois’ new pension law consists of a reduction in annual benefit increases paid to current and...
