FY15

Budget FY15
6:46 pm
Tue December 16, 2014

Agencies To Ask For More, Rauner Says ... Without Giving An Opinion On If They Deserve It Or Not

Gov.-elect Bruce Rauner, right, speaks before a full crowd at the Sangamo Club on Tues., Dec. 16 as part of a Better Government Association event on Illinois' finances.
Credit Amanda Vinicky

Gov.-elect Bruce Rauner has already tried to make the case that that Illinois' finances are worse than he thought. Now he's adding to his list of examples.

"What we've learned here in recent days, and I'm here to get more of the detail on ... there's $760 million of what they're calling - what I guess, I'm learning the lingo - supplemental appropriations, about to be requested," he said.

Basically, it means that state agencies are going to be asking for an additional $760 million to get them through this budget year -- or, as Rauner put it, they want to go "over budget."

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Budget FY15
4:30 pm
Tue October 21, 2014

Civic Fed: Lawmakers Once Again Taking Illinois Down Bad Budget Path

Credit wnij

Illinois is about a quarter of the way into its fiscal year and building up debt along the way. A new report from the Civic Federation says it's a return to detrimental policies that landed Illinois in an unstable financial position in the first place.

There was one, glaring question for lawmakers last spring: what were they going to do about the temporary income tax?

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Pensions
6:29 pm
Wed July 23, 2014

Illinois' Credit Prognosis: Negative

Wall Street's view of Illinois' financial health has taken a hit, thanks largely to the state budget that took effect at the start of this month. Pensions also continue to be a drag. 

When Illinois Democrats passed the state's latest budget, many seemed to hold their nose. Credit ratings agencies are more direct: Standard & Poors has revised Illinois' credit outlook to "negative." 

It says the new budget "is not structurally balanced and will contribute to growing."

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New Law
6:52 am
Thu July 17, 2014

Illinois To Require Bulletproof Vests

Credit flickr.com/appleswitch (Creative Commons)

A new law signed Wednesday is intended to keep police officers safe, by requiring they get protective gear.

A bulletproof vest will become part of an officers' standard equipment issue. Contingent on money, of course.

The new law includes provisions to help ensure there is funding.

It law requires communities and the state apply for a federal grant, that provides matching funds specifically for the purchase of bullet proof vests.

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Budget FY15
8:12 pm
Mon July 14, 2014

Bill Backlog Improvement Could Be Temporary

Credit flickr/dborman

  The amount of money Illinois owes to companies and organizations that have provided goods and services for the state is at its lowest level since 2010, but that improvement could be short-lived.

At one point, Illinois had a stack of overdue bills totaling about $10 billion.

It took so long for the state to pay back its vendors that some were forced to close their doors - they couldn't pay their bills.

But that was at the height of the recession, and before Illinois' hike in the state income tax.

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Illinois Issues
12:00 am
Tue July 1, 2014

End and Means: Budget is Constitutionally Balanced but Full of Flaws

Charles N. Wheeler III
Credit WUIS/Illinois Issues

"The biggest winners here in this session were the taxpayers, who were spared the extension of the income tax."

—Senate Minority Leader Christine Radogno

 

With all due respect to the good senator from Lemont, Illinoisans may have won a Pyrrhic victory when lawmakers adjourned their spring session without voting to keep income tax rates at their current levels past their scheduled January 1 sunset.

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Budget
6:50 am
Mon June 30, 2014

Deadline For Quinn To Take Budget Action

Credit Brian Mackey/WUIS

  It's the last day of the fiscal year for the State of Illinois, which means the pressure is on for Gov. Pat Quinn to sign a new budget into law.

There's nothing on the governor's public schedule for today, but that doesn't mean he won't be busy making official the spending plan passed by his fellow Democrats in the General Assembly.

It makes sense that Quinn wouldn't want to hold a big ceremony drawing attention to it. He had wanted lawmakers to extend Illinois' 5-percent income tax rate, beyond its scheduled rollback halfway through the new fiscal year.

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Budget FY15
5:56 am
Fri May 16, 2014

House Democrats Pass Spending Plan (Barely)

Illinois is beginning to work on its budget for Fiscal Year 2015.
Credit wnij

How much you'll pay in state taxes next year remains an open question, even as the Illinois House Thursday approved dozens of spending bills, that rely on a permanently higher tax rate. It sets the stage for a budget battle, just weeks before legislators are set to adjourn for the summer.

The Illinois House convened at 8 o’clock Thursday morning, and spent most of a very long day on the budget. Lawmakers began with a debate on funding Illinois' public education system, giving schools a slight increase over this year.

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Daily Egyptian
8:30 pm
Tue May 13, 2014

House Budget Plan Could Help Save SIU Student Paper

  Southern Illinois University Carbondale's financially-struggling student newspaper would get an infusion of cash under newly introduced legislation.

A spending measure filed in the Illinois House would give The Daily Eqyptian 70-thousand dollars.

The paper had asked for a nine-dollar-per-semester student fee, but the SIU Board of Trustees has not given approval.

The Daily Egyptian's faculty adviser, Eric Fidler says he's still hopeful that will happen this summer. But he says the 70 thousand dollars would be a buffer.

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Budget FY15
5:47 pm
Wed May 7, 2014

Quinn, Rauner On The Business Of The State Budget

Gov. Pat Quinn told the Illinois Manufacturers' Association and the Illinois Retail Merchants' Association that "savage" cuts will occur if his budget plan does not pass.
Credit Amanda Vinicky/WUIS

  The two men dueling to be Illinois' next governor tried Thursday to win over business leaders with their plans for the state's finances. They both made appearances before a joint meeting of Illinois' retailers and manufacturers in Springfield.

Quinn got a standing ovation as he took the stage, but the response after that was lukewarm.

Just before Quinn's speech, several business owners had been at the podium, complaining about Illinois' high unemployment rate, regulations and taxes.

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Statehouse
4:37 pm
Wed April 9, 2014

S&P: Next Two Months 'Critical' For Illinois Finances

Credit Brian Mackey/WUIS

A major credit rating agency says the next two months will be "critical" for the future of Illinois' finances. The key question is whether to make a temporary tax hike permanent.

Like most of the big credit rating agencies, Standard & Poor's has been bearish on Illinois finances — lowering the state's credit rating four times in recent years.

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Illinois Issues
12:00 am
Tue April 1, 2014

End and Means: Reports Say Tax Cuts Won't Spur Economic Development

Charles N. Wheeler III
Credit WUIS/Illinois Issues

  Guess what? 

State tax cuts don’t improve economic growth.

No, that’s not an April Fool’s Day zinger.

Rather, it’s the conclusion of a report issued last month by the Fiscal Policy Center at Voices for Illinois Children, a nonpartisan advocacy organization for the state’s youngsters (Poor Finances, Uncertainty about Looming Revenue Collapse Threaten State Economy).

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Statehouse
4:07 pm
Tue February 25, 2014

House Sets Spending Cap — Down $1b From Last Year

Credit Brian Mackey/WUIS

The Illinois House took a key first step in the state budgeting process Tuesday.

It adopted what's called a "revenue estimate" — how much money Illinois is expected to be able to spend in the next fiscal year.

The cap, of $34.495 billion, is significant in several ways: It's about a billion less than last year's number, which means lawmakers are going to have extend the tax increase or find other sources of money, or they'll have to make a lot of cuts. On the other hand, it's not as bad as some people had feared.

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Election 2014
5:21 pm
Mon February 17, 2014

Cullerton Prods GOP Over 'Secret Plan' On Budget

Credit Illinois Senate

The top Democrat in the Illinois Senate on Monday went on the offensive over state spending. Senate President John Cullerton is calling out the Republicans running for governor.

Cullerton laid out the hits expected in next year's budget, including the roll back of the income tax hike and mandatory spending increases on things like personnel and healthcare for the poor. Add it up, Cullerton says, and it's a nearly $3 billion hole.

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Statehouse
4:58 pm
Wed February 5, 2014

Cullerton Taunts GOP Over Budget Delay

Senate President John Cullerton
Credit Illinois Senate

The campaign for governor seeped into a debate in the Illinois Senate Wednesday. It let senators get into a little partisan elbowing.

Legislators were in town for just two days of session this week, and they only passed one bill. It lets Gov. Pat Quinn delay his budget address from mid-February to the end of March. The administration says it needs the delay to continue crunching numbers.

Republicans, however — like Sen. Kirk Dillard of Hinsdale — say Quinn has something else on his mind.

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Pensions
7:20 am
Tue January 7, 2014

Don't Bank On Pension Savings Just Yet

House Speaker Michael Madigan sponsored the pension overhaul, which state employees' and teachers' unions say unfairly cuts their benefits.
Credit Amanda Vinicky/WUIS

With the new year comes the annual process of crafting a new state budget.  Money will be tight, despite a pension law that's supposed to save $160 billion dollars over the next 30 years.

Legislators who voted to cut state employees' and teachers' retirement benefits say they had no choice. Nearly a fifth of the state budget was going into Illinois' pension systems. Meaning there was less money to spend elsewhere. The pension law is supposed to ease that so-called "squeeze."

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Fiscal Focus
4:30 pm
Tue October 29, 2013

Report: Deficit Expected Even If Tax Hike Stays

Credit flickr/borman18

  Even if Illinois keeps its higher income tax rate, a new report projects the state is headed toward deficit spending. 

Illinois residents are paying a 5-percent tax on their income. It's been that way since 2011.

According to a new report from the University of Illinois' Institute of Government and Public Affairs, that tax money helped balance Illinois' budget this year.

But economist David Merriman, who directed the project, says that won't last.

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Statehouse
6:00 am
Wed August 14, 2013

Two Years In, 'Budgeting For Results' Still Ramping Up

Members of the Budgeting for Results Commission at a hearing Tuesday in Springfield.
Credit Brian Mackey/WUIS

An Illinois government panel trying to help the state set spending priorities is already at work on next year's budget. But after two years, the group is still waiting for the chance to make its mark on spending.

The idea behind Budgeting for Results is to focus state spending on agencies and programs that meet a list of seven priorities, like education or public safety.

But although the Budgeting for Results Commission has been meeting, taking testimony, and publishing reports for about two years, its work has yet to affect the budget.

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