The State of Illinois will need to increase contributions to its pension funds by $682.0 million in the next budget year, according to preliminary amounts released by the State’s five retirement systems. Total pension contributions…
When the Illinois Jobs Now! capital spending program was approved in 2010 the State also approved a series of dedicated revenue sources intended to fund new borrowing costs outside the State operating budget. As previously sold capital…
As previously discussed here, the enacted FY2015 budget for the State of Illinois includes several budgetary gimmicks intended to make up for the loss of revenues…
Whether the State of Illinois has spent more or less on education in the last five years has recently been the subject of intense debate…
Municipal bankruptcies are very rare but a spate of filings, including the largest municipal bankruptcy in U.S. history by the City of Detroit, and ongoing municipal budgetary stress around the country has led to discussions of what, if…
This analysis finds that the State of Illinois' FY2015 enacted budget represents a return to unsustainable fiscal practices including borrowing for operations and underfunding known costs. This spending plan will increase Illinois’ backlog…
In the past few months, it has become evident that Illinois vastly underestimated the number of newly eligible recipients who would sign up for Medicaid under the Affordable Care Act. However, the fiscal implications of the unexpectedly…
As recently as 2011, the State of Illinois projected its backlog of unpaid income tax refunds could increase to more than $1.0 billion but by the end of…
A new law that restores certain Medicaid benefits previously cut due to budget pressures also adds a new service: kidney transplants for undocumented Illinois residents.…
Despite its name, a social impact bond (SIB) is not a debt instrument and does not require a government to issue debt. Rather, an SIB is a social impact financing arrangement whereby funds are raised from private sector investors to…
