Comptroller's Quarterly
In This Edition: While a quick glance at the state’s bill backlog might suggest an improved fiscal condition for Illinois, it only tells a part of the story.
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- Quarterly Edition 04, January 2012 - Backlog Persists Despite New Revenue
Little Improvement Seen One Year After Tax Increases
Springfield– one year after Illinois raised individual and corporate income tax rates, the state remains in a precarious fiscal position with persistent payment delays – and the situation is unlikely to significantly
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improve in the near-term.
- Quarterly Edition 03, October 2011- Staggering Fiscal Challenges Remain
Bill backlog numbers provide incomplete picture
While a quick glance at the state’s bill backlog might suggest an improved fiscal condition for Illinois, it only tells a part of the story.
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- Quarterly Edition 02, July 2011- State Races to Pay Medicaid Bills
Long-term challenges, payment delays continue
After three years of declining end-of-year General Revenue Fund (GRF) balances, Fiscal Year 2011 has concluded with Illinois in a better position than it was 12 months ago. But that improvement may be temporary, as not all of the state’s liabilities for the year – such as certain health insurance bills and tax refunds – have been factored into the equation.
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- Quarterly Edition 01, April 2011- State Steps Back from Financial Abyss
Actions taken in the first three quarters of fiscal year 2011 have allowed the state of Illinois to gain revenue and avoid financial catastrophe in the short-term, but a massive bill backlog and substantial long-term challenges remain as it enters the final quarter.
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- Edition 38 - January 2011 - State Pays Down Fiscal Year 2010 Bills
Illinois’ cash flow position has become clearer as several one-time revenue enhancements allowed the state to finally address bills left over from fiscal year 2010. in the second quarter, the General Funds received $1.25 billion from the sale of tobacco securitization bonds, $392 million from the tax amnesty program and utilized $354 million in interfund borrowing.
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- Edition 37 - October 2010 - State Bill Backlog Continues to Grow
The state’s financial position continues to deteriorate as the backlog of unpaid state obligations continues to outpace incoming revenues. With $4.7 billion in fiscal year 2010 payables on June 30 to start the new fiscal year and $1.7 billion in additional fiscal year 2010 payments presented during the lapse period, over $6.4 billion in fiscal year 2011 revenues will be used to pay last year’s bills.
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- Edition 36 - July 2010 - Fiscal Problems Worsen Significantly as FY 2010 Ends
Throughout fiscal year 2010, both the state’s financial condition and cash flow position continued to deteriorate rapidly, as spending pressures were left largely unabated and as the recession continued to impact state revenues. Illinois ended the year in the worst fiscal position in its history.
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- Edition 35 - April 2010 - Cash Position Deteriorates as State Begins to Repay Short-Term Borrowing
Through the first three quarters of fiscal year 2010, the state’s cash flow position continued to deteriorate with the backlog of General Revenue Fund bills reaching historic levels. At the end ofMarch, the volume
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of unpaid bills from the General Funds in the Comptroller’s Office stood at $4.496 billion while at this time last year payables totaled $3.401 billion.
- Edition 34 - January 2010 - Fiscal Position Continues Downward Slide
through the first half of fiscal year 2010, the state’s cash flow position continued to deteriorate with the backlog of bills continuing to reach unprecedented levels. at the end of December, the backlog of unpaid bills from the General Funds in the Comptroller’s office stood at $5.12 billion while at this time last year payables totaled $1.844 billion.
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- Edition 33 - October 2009 - Financial Position Deteriorates Despite $2.25 Billion in Borrowing
Through the first half of fiscal year 2010, the state’s cash flow position continued to deteriorate with the backlog of bills continuing to reach unprecedented levels. at the end of December, the backlog of unpaid bills from the General Funds in the Comptroller’s office stood at $5.12 billion while at this time last year payables totaled $1.844 billion.
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