FY16 Budget Still in Limbo...

Budget stalemate continues; Comptroller Munger issues financial update.
Comptroller Leslie Geissler Munger told Illinoisans on Friday, October 16 that the State’s unpaid bills, in the absence of budgeted appropriations for FY16, have reached $6.9 billion. Based on the assumption that no significant changes will alter current trends, the State’s backlog of unpaid bills will be about $8.5 billion by December 31, 2015.

Action once again delayed on State budget, other key issues.
The Illinois House and Senate met in fall session on Tuesday, October 20, but House Democrats did not take substantive action on the general funds portion of the FY16 budget. As noted above, the General Assembly took action to select a new Auditor General. Testimony on the budget was heard, and the Democrats moved amendments to a bill to appropriate money from GRF and “other State funds” for various individual line items related to the testimony.

This week’s General Assembly action did not replenish the exhausted State general funds balance that forms the heart of the current unbalanced-status of the State budget. Nothing in this action was expected to affect the State’s declining debt and credit ratings. The next General Assembly session day is scheduled for Tuesday, November 10.