08.19.16
August 24, 2016
UPDATE 3: The State now plans to post the draft waiver application on August 26 and hold public hearings in Springfield on September 8 and Chicago on September 9. For more...
08.19.16
August 24, 2016
UPDATE 3: The State now plans to post the draft waiver application on August 26 and hold public hearings in Springfield on September 8 and Chicago on September 9. For more...
07.01.16
After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school education funding, including additional assistance for...
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...
05.03.16
The Civic Federation is unable to support Governor Rauner’s recommended budget for FY2017 because it has an operating deficit of at least $3.5 billion and presents an insufficiently detailed plan...
03.25.16
As the State of Illinois’ budget impasse continues to drag on, it is commonly overlooked that the underlying economy and tax base in the State continue to grow.
In FY2017 the State of Illinois is projected to have an additional $631 million in General Funds revenues available compared to...
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.
...
02.11.16
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of...
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...
01.14.16
A new report by Governor Bruce Rauner’s administration projects that the State of Illinois’ backlog of unpaid bills could grow to $25.0 billion in FY2019 from $4.4 billion in FY2015 based on current tax and spending policies.
The...
08.30.13
To support construction projects during the busy summer months, the State of Illinois issued $2.0 billion of capital purpose debt, which for the most part will be repaid from the State’s Capital Projects Fund.
The Fund was created to receive the revenues from a package of new...