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,...
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...
12.26.13
The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2013 and represent some of the most closely followed Illinois fiscal issues this year:
...
11.22.13
A provision of the General Obligation Bond Act in Illinois requires the State to structure its bonds so that equal amounts of the funds borrowed are repaid in each year of the loan. This structure, called level principal, benefits the State’s long-term debt profile by reducing the overall cost...
09.13.13
Over the years, Illinois’ poorly funded retirement systems have put an enormous strain on the State’s budget. At times, the State has chosen to simply avoid the burden by making smaller contributions to the pension funds than required under a 1995 pension funding law.
As part of the $54...
09.06.13
Earlier this spring the Civic Federation opposed the $26 billion capital plan proposed by Governor Quinn because it was unaffordable over time and was not based on a capital...
09.05.13
The Governor’s office recently published its first official document that included details of the revenues and expenditures approved by the General Assembly for FY2010 fiscal year. The Official Statement accompanying the sale of $1.25 billion in short term debt on August 20, 2009 includes new...
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...
08.01.13
As the State of Illinois enters the fifth year of its $31-billion Illinois Jobs Now! capital spending program, revenue sources approved to fund the projects are still lagging far behind original projections.
Revenues deposited in the Capital Projects Fund in FY2013 from dedicated taxes...