Comptroller Dan Hynes released a report July 7 that showed “Illinois ended the year in the worst fiscal position in its history.”
At the end of the Fiscal Year 2010, which concluded June 30, the state’s General Revenue Fund (GRF) balance was negative $4.692 billion—the lowest budgetary balance in Illinois history.
The backlog of Illinois’ unpaid bills was a historically high $4.712 billion. Last year, the backlog was $2.785 billion.
Lacking revenue to pay the state’s bills, in June it took a record 153 working days for the comptroller’s office to reimburse vouchers. At the same time in 2009, the delay was 99 days.
Unfortunately, the report doesn’t predict any relief on the horizon. Hynes anticipates that even with an economic boost or with additional revenue that may come from budget cuts, borrowing measures, or tax increases advanced by Governor Pat Quinn, “the state will likely end fiscal year 2011 with a GRF bill backlog significantly higher than that at the end of fiscal year 2010.”" /> Skip to Main Content
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