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...
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...
12.11.15
Popular Annual Financial Reports: The Potential for Increased Transparency, Accountability and Public Inclusion
The Civic Federation has long encouraged government transparency and accountability, both of which are emphasized in our Mission...
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...
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...
01.23.15
The State of Illinois projected a major loss of income tax revenues in FY2015 due to the reduced rates for individuals and corporations that took effect on January 1, 2015. However, corporate income taxes have taken a steeper decline than originally projected and began to fall even before the...
01.09.15
According to a recent study, the State of Illinois does not set aside enough revenue to account for fluctuations in its volatile tax sources and needs to improve its rules for making rainy day fund deposits in order to prepare for future financial challenges.
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