Illinois state budget (2010-2011)

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On the last day of FY2011, the Illinois Comptroller's Office said that Illinois was ending FY2011 with $8.3 billion in unpaid bills and other obligations, including $850 million owed in corporate tax refunds, $750 million needed to repay interfund borrowing, and $1.2 billion for state employee health insurance, and owing primary and secondary school districts $1.13 billion and universities $584 million.[1]

On January 12, 2011, lawmakers raised the state income tax 66%, from 3% to 5% of income, with Governor Pat Quinn explaining it was necessary because Illinois's "fiscal house was burning."[2]

Gov. Pat Quinn signed the state's $25 billion FY2011 state budget on July 1, 2010.[3] In December 2010, Quinn proposed borrowing $15 billion to pay the state's bills.[4]

At the time Illinois' financial situation was worse than any other state in the country according to a study by the National Conference of State Legislatures. The state ended Fiscal Year 2010 in worse shape than any other state (the state’s general fund balance was the lowest it had ever been at negative $4.7 billion[5]) and the state's budget situation had been called "tenuous at best."[6][7]

Going into the fiscal year Illinois had a total state debt of $120,743,173,392 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap as of July 2010.[8]

2011 State spending & deficit in billions[9]
Total spending Pension Healthcare Education Welfare Protection Transport Debt
$63.8 $8.8 $18.3 $7.9 $10.3 $2.4 $5.8 $57
2011 Local spending & deficit in billions[9]
Total spending Pension Healthcare Education Welfare Protection Transport Deficit
$65.7 $4.4 $2.6 $26 $3 $8.3 $8.5 $65.7

FY2011 State Budget

Bond Sale

Illinois hoped to raise $3.7 billion through a bond issue the week of Feb. 21, 2011, in an effort to pay off some of the state's pension obligations. The state had tried borrowing to pay off pension obligations previously, and it was unsuccessful. Critics noted that even if the sale was successful, the money raised would not alleviate the problem. For example, the teacher's pension fund was estimated to see $2 billion from the sale, but that pension fund alone was underfunded by $40 billion at the time.[10]

Tax Hike

The state legislature approved a bill on Jan. 12, 2011, to generate $6.5 billion by increasing taxes over a full year period, retroactive to Jan. 1, 2011.[2] It increased the personal income tax rate from 3% to 5% until 2015, when it was set to drop to 3.75%, and then drop again in 2025 to 3.25%.[2] The corporate tax rate would rise from 4.8% to 7% until 2015, when it would drop to 5.25%, and then drop again in 2025 back to 4.8%.[2]

The bill tied the higher tax rates to state spending in the next four budget years, and if the state auditor general were to find that lawmakers and the governor exceeded specific spending levels, the higher income tax rates would revert to original levels. The set spending limits not to be exceeded were:

  • $36.8 billion in the 2012 budget year
  • $37.5 billion in 2013
  • $38.3 billion in 2014
  • $39 billion in 2015.[2]

As of Jan 3, 2011, the state had a backlog of more than $6 billion in unpaid bills and almost $4 billion in missed payments to underfunded state pensions.[11] The legislature convened on Jan. 3, 2011, and planned to address the financial crisis by considering spending cuts, expanding casino gambling and a proposal from Gov. Quinn to borrow $15 billion to pay overdue bills and help fill the budget hole.[11]

In Dec. 2010, the National Conference of State Legislatures said that the state faced a midyear shortfall of $13 billion, which represented 47% of the FY2011 state budget.[12] Other experts said that Illinois faced a $15 billion budget deficit.[13]

Shortly thereafter, Gov. Quinn proposed borrowing $15 billion to pay the state's bills.[14] The most conventional source of money to repay the loan — an income tax increase of 1% — was also the most controversial.[14] Lawmakers had a final lame-duck session in early January 2011 before the new General Assembly was sworn in on January 12, 2011[15], creating an environment that made it easier to push through major legislation.[14]

From June 30, 2010 to Oct. 1, 2010, the state's the general fund’s negative balance deepened from $4.7 billion to $4.93 billion.[13] The amount of unpaid obligations was estimated to be $8 billion by the end of FY2011 on June 30, 2011.[13]

The governor's budget director, David Vaught, said he expected lawmakers to raise the individual and corporate income-tax rates by 2 percentage points. The move was expected to bring in $6 billion of new revenue, which was needed given the state's deficit.[5]

On May 27, 2010, the Illinois legislature passed a budget for FY2011 with a $13 billion shortfall that Business Week described as "built on borrowing, unpaid bills and one-time revenue maneuvers."[16] Legislators, rather than setting specific spending levels for each state program, approved lump sums that Gov. Pat Quinn would dole out. Quinn was to decide where to cut spending and how much, and the legislature also gave him the power to divert money set aside in special-purpose funds.[17]

The FY2011 state budget did not include provisions to pay the businesses and charities that provided services on behalf of the state, meaning that day-care centers, health clinics and homes for the disabled had to wait months for payment.[16]

Lawmakers ignored the Governor's proposal to increase income taxes by one-third. They also rejected a proposal to raise cigarette taxes, but permitted Quinn to sell the rights to some of the money the state should receive from a major tobacco lawsuit that was expected to produce a one-time sum of $1.2 billion.[16]

The FY2011 budget also included a sales tax "holiday" on clothing and school supplies in mid-August.[16]

Federal Stimulus

Of the state aid approved by Congress in August 2010, Illinois received $400 million for education and $550 million for Medicaid.[18] It was less than the state had hope to receive.[19] Gov. Quinn said he doubted a special legislative session would be necessary the state to spend the federal funds.[18] Quinn previously detailed a $215.7 million cut to the state's Department of Healthcare and Family Services, responsible for the state’s Medicaid and public insurance programs, which was a 2.7% cut compared to FY2010. That was also contingent on a “continued enhanced Medicaid match,” which the state did not get. The state was then responsible for an additional $200 million.[19]

Budget Cuts

The state closed 13 of its 15 tourist information centers to save approximately $2 million per year.[20]

In July, Gov. Quinn said he eliminated $1.4 billion from the budget but did not offer many specifics on where those cuts were be made until early August 2010, when he detailed $891 million in budget cuts.[21] The August announcement of budget cuts still did not provide details of how the cuts would be made and savings achieved. Many of the cuts were described simply as "efficiencies" and "changes." For example, one $60 million cut was described as: "DHS would achieve operating efficiencies through review of contracts and programmatic changes." No information on programmatic changes was given.[22]

The governor's cuts included:

  • $576 million from the Department of Human Services, or 14%[22], most of which was the result of cutting $515 million in grants[21]
  • $311 million was to be cut from preschool through 12th grade education,[21] amounting to a loss of 4.3%[22]
  • The State Board of Education budget lost $10 million from operations, $10 million from principal mentoring and arts and foreign languages and $62 million for student transportation, meaning transportation funding was 42% less than last year.[21] In addition, the department saw $68.5 million in reading improvement block grants cuts.[22]
  • $42 million from the Department of Corrections[21]
  • $28.4 million from the Department of Aging[21]
  • $18.2 million from the Department of Public Health[21]
  • $2.4 million from the Department of Natural Resources, wiping out the Wildlife Prairie Park subsidy[21]
  • $2 million from Amtrak[21]

Not all agencies were cut. Department of Juvenile Justice's budget increased $6.4 million more, and the Department of Veterans’ Affairs received an addition $7.8 million.[21]

Gov. Quinn's cuts reduced the state's $13 billion deficit, but still left a $6 billion gap between expenses and revenue and about $6 billion in unpaid bills from the previous year. That shortfall amounted to approximately half of the budget's general funds, where state officials had broad authority to raise or lower spending.[22]

State Employees

Despite the state's fiscal issues, Gov. Quinn gave salary increases averaging 11.4% to 35 members of his staff from April 2009 through July 2010. When criticized by his gubenatorial opponent, Quinn reversed course and saved the state approximately $18 million when he ordered his employees to take 24 unpaid days off instead of 12.[23] The governor's order required 2,700 non-union state workers to take 24 unpaid days off.[24]

Although the governor issued the order for the furloughs on fears that the state would not receive federal Medicaid funds, the federal government approved $974 million in funds, $550 million for Medicaid.[25] After the passage of the federal funds, the governor did not rescind the plan to require furloughs but his administration developed new rules permitting nonunion state workers to use vacation and personal days to fulfill their furlough days requirement, meaning that employees would not lose pay.[26]

Reliance on Debt

As of the end of August 2010, Illinois had borrowed $9.6 billion in the prior 12 months; the Civic Federation estimates would eventually cost Illinois taxpayers $551 million in extra interest payments.[27]

As of August 2010 Illinois and California were the two lowest-rated states by the three major credit-rating agencies.[28] The low rating means that residents would pay as much as $551.3 million extra for the state's borrowing over the previous year, according to the Civic Federation.[28] It also found that more than half the state's additional borrowing costs, amounting to approximately $301.2 million, would come due in the next five years.[28]

Illinois planned to borrow more than $3 billion to pay the bills for FY2011 and in June 2010, the legislature permitted the university systems to borrow millions more to make up for the fact that the state had not made the payments it had promised them.[29]

The state relied heavily on debt, drawing comparisons to debt-ridden Greece.[30] The state's heavy reliance on borrowing to "balance" the budget resulted in the state's bond rating being lowered by Fitch Ratings and Moody's. Fitch observed, "The recently enacted FY 2011 budget did not begin to address the current operating gap, relying almost entirely on various forms of deficit financing to close the gap."[31] In fact, the state's bond rating was lower than all but seven sovereign nations, ranking only slightly higher than Iraq.[29] The state's budget director said that the state would raise tax rates in part because companies that rate municipal bonds pressured the state to show it had the ability to address its deficit.[5]

The cost of insuring five-year Illinois bonds to protect $10 million of debt against default in June 2010 rose to $370,000, a record, from a low of $155,000 in January, 2010. The price fell back to $281,000 at the end of July 2010.[5]

The state planned to raise $900 million starting July 15, 2010, through Build America Bonds, a Recovery Act program, to fund its first capital program in more than a decade. Although the bonds were taxable, the federal government subsidized 35% of the interest payments. Midway through 2010 the state had issued $2.3 billion in Build America Bonds, attracting many new investors, including those from overseas.[30]

Illinois then planned to generate $1.3 billion in short-term notes at the end of July 2010 and $1.4 billion in debt related to tobacco settlement funds in November. Despite the fact that the state sold $2.4 billion in pension notes in January 2010, it planned to once again turn to the debt markets to fund $3.7 billion in pension obligations in December 2010.[30]

Pension plans The state's pension funds were among the most underfunded in the country. In October 2010, the Executive Director of the Illinois State Board of Investments, which manages one-fifth of the state's pension funds, said it was selling $80 million of assets a month to pay pension benefits.[32] Gov. Quinn proposed that the state pay $300 million less than the total $4.5 billion estimated contribution to the state's pension systems for FY2011.[33] The legislature passed bills to scale back pension benefits expected to save $100 billion over several decades, according to legislators[33], who passed the bill in one day in March, 2010.[34] The governor signed into law on April 13, 2010.[34]

Every year the state contributes to the retirement systems that cover state workers, downstate teachers, university employees and others. The government owed about $3.7 billion to the systems for FY2011. The state borrowed money to pay its pension contribution the previous year and Democrats said that since the state faced a roughly $13 billion budget shortfall for that fiscal year, borrowing the money was the only realistic way to get the pension funds.[16] Borrowing the pension money would cost about $1 billion in interest; skipping the payment entirely would cost pension systems roughly $20 billion in lost income and interest.[16]

Jobs and Unemployment Insurance

Gov. Quinn claimed in August 2010 to had created 60,000 jobs in the state since Jan. 1, 2010.[35] A spokeswoman for Bill Brady, Quinn's gubenatorial opponent, said "The U.S. Bureau of Labor Statistics tells a different story, with 200,000 fewer Illinois jobs in the past 18 months."[35]

Illinois borrowed more than $2.2 billion from the federal government to pay unemployment benefits to laid-off workers and owed approximately $250 million in interest.[36] The deficit in the fund was estimated to be $2.75 billion by the end of 2010. The fund was financed by employer contributions, which did not receive state tax dollars.[36]

Income Tax Increase

Gov. Quinn said he expected the income tax revenues to climb by $3 billion if lawmakers approved his plan to institute a 4 percent income tax, up from the then current 3 percent rate.[35]

Budget background

The Illinois Constitution requires the governor to prepare and present a State budget recommendation for the state to the General Assembly. The Constitution also requires that the proposed budget be balanced and include recommended spending levels for state agencies, estimated funds available from tax collections and other sources, and state debt and liabilities. The Governor’s Office of Management and Budget (GOMB) estimates revenues in consultation with the Department of Revenue and GOMB subsequently develops budget recommendations that reflect the governor’s programmatic and spending priorities.

The Governor presents the Budget Address in February. After the Governor’s Budget Address, legislative review of the governor’s budget recommendations begins almost immediately with hearings before House and Senate appropriation committees.

Final approval of the budget usually occurs at the end of the legislative session, typically by the end of May. The Illinois Constitution requires a simple majority vote of the General Assembly for a bill passed on or before May 31 to take effect immediately. On or after June 1, a three-fifths super majority vote of the General Assembly was required in order for a bill to take effect for the upcoming fiscal year.

Once the General Assembly passes the budget, the governor must sign appropriation bills before funds can be spent. If the Governor chooses not to approve a specific appropriation, he may either veto a specific line item or reduce it. The rest of the appropriation bill was unaffected by these vetoes and becomes effective. Line items that had been vetoed or reduced must be reconsidered by the General Assembly during the fall session. The General Assembly may return an item to the enacted level by simple majority vote in both chambers in the case of a reduction veto and by a three-fifths super majority vote in the case of a line item veto.[37]

Budget figures

FY2010 Operating Appropriations by fund group FY 2010:[37]

  • General Funds 53.7%
  • Special State Funds 22%
  • Federal Trust Funds 16.7%
  • Highway Funds 4%
  • Debt Service Funds 2.9%
  • State Trust Funds 0.6%

Total cuts made after passage of FY2010 budget[38]

Category Amount cut (in millions)
K-12 Education 85.2
Higher Education 6.7
Public Assistance 41.1
Medicaid 140.0
Transportation 1.7
Other 108.2
Total 382.9

Fiscal 2010 Tax Collections Compared With Projections Used in Adopting Fiscal 2010 Budgets (Millions)[38]

Category Amount
Sales Tax Original Estimate 6,394
Sales Tax Current Estimate 6,200
Personal Income Tax Original Estimate 9,206
Personal Income Tax Current Estimate 8,460
Corporate Income Tax Estimate 1,133
Corporate Income Tax Estimate 1,310

General Fund[39]

Category FY2009 Amount in millions Actual FY 2010 Amount in millions Estimated
Beginning Balance 141 280
Revenues 27,551 25,828
Adjustments 1,593 2,167
Total Resources 29,285 28,275
Expenditures 26,982 23,714
Adjustments 2,023 4,281
Ending Balance 280 280
Budget Stabilization Fund 276 276

The Illinois state government appropriated $67,693,357,273.26 to be spent in the 2007 fiscal year.[40]

Fiscal Year General Funds Expenditures  % Change from Previous Year
1999 $21,527,000,000[41] 9.4%[41]
2000 $22,976,000,000[41] 6.7%[41]
2001 $24,583,000,000[41] 7.0%[41]
2002 $25,125,000,000[41] 2.2%[41]
2003 $24,861,000,000[42] -1.0%[41]
2004 $26,365,000,000[43] 6.0%[43]
2005 $28,247,000,000[44] 7.1%[44]
2006 $28,452,000,000[45] 0.7%[45]
2007 $30,116,000,000[41] 5.8%[41]
2008 $27,162,717,000[37] -9.8%
2009 $29,787,690,000[46] 9.7%
2010 $26,031,201,000[46] -7.7%
2011 - Proposed $24,508,432,000[46] -5.8%

See Illinois state budget (2008-2009) for more details.

2009-2010 budget crisis

See: Illinois state budget 2009-2010

2008-2009 budget crisis

See: Illinois state budget (2008-2009)

Budget transparency

See also: Evaluation of Illinois state website

State budget websites and analysis

As of May 2009, the Illinois Office of Management and Budget website did not post copies of the budget proposals from previous fiscal years. This was unusual, given that many other states' budget offices to keep up archived copies of past budgets.[47] For the 2011 budget, the state adopted a more transparent method of publishing it's budget, providing the information on a quarterly and annual basis. The new process would not affect how agency's budgets would be audited, these reports would continue to be released a year or more after revenue and costs were available.[48]

The Illinois Policy Institute posted the PDF budget books from 2005, 2006, 2007, 2008, 2009, and 2010.[49]

According to the Illinois Policy Institute, Illinois ranks 48th in economic performance, doing better than Michigan and Ohio[50]:

  • 42nd in economic outlook. Neighboring Indiana and Missouri rank well ahead in terms of future opportunity, at 12th and 17th respectively.
  • 44th in GDP growth, averaging only 3.83% over the last decade. Illinois GDP growth had declined since 1977 at a rate from 7.6% to 5.9%.
  • 46th in debt burden. Illinois continues to spend government revenue growth on government expansion rather than funding past debt obligations, including pensions.
  • 44th in personal income growth over the past decade, averaging at 3.83% while the U.S. average was 4.19%.
  • 47th in employment growth from 1977 till 2006, ranking ahead of only Michigan, Ohio and Louisiana.
  • 37th in improving its standard of living, growing at only 1.13% per year over the past decade. While Illinois ranks relatively high in standard of living (18th), the state continues to fall farther down the ranks.
  • 48th in net migration, with over 727,150 people having left the state from 1997-2006.
  • 7th highest in median property taxes paid.
  • 14th highest overall tax burden in the nation.
  • 9th highest in property tax burden.
  • 4th highest gas tax burden (approximately 40 cents per gallon).
  • 1st in sales tax burden (Chicago & Cook County).
  • Illinois was shrinking in wealth, once ranking as high as 6th in per capita personal income and dropping to 18th today.
  • The growth of the Illinois economy had lagged the rest of the country for each of the last three decades.

Government tools

As of March 2009, Gov. Pat Quinn launched Budget Illinois which summarizes the proposed budget for 2010, offers budget figures and also details a capital projects list including information on the recommended and actual appropriations and expenditures going forward.[51][52]

According to Joe Calomino, Illinois State Director of Americans for Prosperity, Illinois's
"current opaque spending process creates the perception, or possible reality, of legislators or bureaucrats using the state budget to fund unnecessary, wasteful, or even corrupt programs, confident that most Illinoisans would never know about it. Giving taxpayers the tools to understand where and how their money was being spent would make state government more accountable and reduce waste, fraud, and abuse."[53]

However, thanks to leaders on the local level, transparency was spreading.[54]

The Open Book was a searchable database of state contracts and campaign contributions that was hosted by the Illinois State Comptroller. Also available from the Comptroller's Office was aggregate expenditure information that can be sorted in a variety of ways. Line-item information was not available.[55][56]

House Bill 35 was a 2009 reintroduction of Rep. Michael Tryon's 2008 transparency bill House Bill 4765, and would require the state to create and maintain a Web site on state employees’ salaries, state contracts, state expenditures, state tax credits and revocations and suspensions of state professional licenses. HB 35 was sent to Governor Pat Quinn on June 12, 2009.[57] The only high ranking state official listed on the site, however, was Gov. Quinn; other state employees, including Attorney General Lisa Madigan and Secretary of State Jesse White and legislators were not included.[58][59]

Some cities and school districts had put expenditures up online; a list of these transparent entities can be found online.[60]

Illinois launched Sunshine.Illinois.gov to publish state expenditures, grants, public facilities’ inspection reports and more can be searched by citizens.[61]

The following table was helpful in evaluating the level of transparency provided by the Comptroller's aggregate expenditure website.[56]

Criteria for evaluating spending databases
State Database Searchability Grants Contracts Line Item Expenditures Dept/Agency Budgets Public Employee Salary
Open Books
{{{1}}}
{{{1}}}
{{{1}}}
{{{1}}}
N
600px-Red x.png
N
600px-Red x.png
Comptroller's aggregate expenditure website
{{{1}}}
{{{1}}}
{{{1}}}
{{{1}}}
{{{1}}}
N
600px-Red x.png

Limitations and Suggestions

  • Add a copy of the actual contracts to Open Book.<refname=agg>Open BookCite error: Closing </ref> missing for <ref> tag

Economic stimulus transparency

  • In August 2010, the federal government approved a jobs bill, which includes $550 million in additional federal Medicaid funding for Illinois and $974 million for the state total.
  • It was estimated that Illinois would receive at least $6.3 billion in federal funding.[62]
  • Illinois established an economic recovery website.[63]

Three Illinois projects were noted in Senator Coburn and Senator McCain's "Summertime Blues, 100 stimulus projects that give taxpayers the blues" report. One project awarded $712,883 in stimulus funds Northwestern University to create computer systems that would gather jokes from the Internet and use them to create hilarious presentations that mimic real-life comedians.[64] Another project uses $18 million of bonding authority granted to McHenry County from the stimulus bill for a sports complex.[64] In addition, the report noted that the University of Illinois received half a million dollars to study the relationship between taxes and obesity.[64]

An audit recently conducted on the $242 million weatherization program, partially funded by stimulus dollars, failed energy efficiency upgrades for low-income homes repeatedly during final inspection.[65] At least 12 of the homes were left in a state which caused risk to the occupants.

Independent transparency sites

Illinois Open Gov

Illinois Open Gov was a transparency website sponsored by the organization.[67][68] The site would list state employee salary, retiree pensions, and vendor information. The site states plans to eventually include all state spending.

[69]

Illinois Open Gov exceeds the current state sponsored site for government employee salary information by also factoring in information about employee's benefits and providing information about retired state employees.[69]

The site also allows others to repurpose the data by allowing it to be downloadable in Excel or CSV file formats. It also host's a forum for public conversation to discuss particular spending items.[69]

Public employee salary information

The Chicago Sun Times offered a database of Cook County, Chicago, and state employee salaries.[70]

The Better Government Association offered a searchable database of selected public payrolls. The BGA database includes salaries of employees of the states of Illinois, Indiana, and Missouri, as well as several city and counties in northeastern Illinois.[71]

This was a look at the Top 100 Paid Teachers in 2007.[72]

A list of the salaries of employees of the University of Illinois was posted online.[73]

Education website illinoisloop.org posted information on salaries and pensions.[74]

Accounting principles

See also: Illinois government accounting principles

The Illinois Auditor General was William G. Holland. Since August 1992, William G. Holland had served as Auditor General of the State of Illinois. He was appointed by the General Assembly to a ten-year term commencing August 1, 1992. He was unanimously re-appointed to a second ten-year term, effective August 1, 2002.[75] The Auditor General was a constitutional officer of the State of Illinois charged with reviewing the obligation, expenditure, receipt and use of public funds. The office issues approximately 150 post-audits of State agencies each year, reviewing an agency's financial records, compliance with State and federal laws and regulations, and program performance after the close of its fiscal year. Report digests (summaries) and full audit reports of released audits were available online.[76]

The Illinois State Comptroller was Daniel W. Hynes, who had served three terms since first elected in November of 1998. The Comptroller's Office was created by the Constitutional Convention of 1970 as an expanded replacement for the Office of the Auditor of Public Accounts.[77]

The Institute for Truth in Accounting (IFTA) rates Illinois “Worst” in filing the state’s Comprehensive Annual Financial Report (CAFR) – The annual report of state and local governmental entities. IFTA rated 22 states timely, 22 states tardy, and 6 states as worst. IFTA did not consider Illinois’ CAFRs, and those of the other states, to be accurate representations of the state’s financial condition because the Generally Accepted Accounting Principles (GAAP) basis did not include significant liabilities for the pension plans and for other post employment benefits, such as health care.[78] Illinois’ Comprehensive Annual Financial Reports were published online by the Illinois State Comptroller.[79][80]

Credit Rating Fitch Moody's S&P
Illinois[81] A A1 AA-

Governor Pat Quinn joined with Attorney General Lisa Madigan and members of the Illinois Reform Commission on August 17, 2009 to sign bills to increase transparency and accountability in state government. The legislation strengthens the Illinois Freedom of Information Act (FOIA) and ensures the state’s boards and commissions were open and accessible to the public. The website makes the State’s expenditures and employee pay data available through a single, searchable portal.[82][83]

See also

External links

Helpful budget links

Additional reading

References

  1. Reuters "Illinois governor signs budget but state's problems mount" June 30, 2011
  2. 2.0 2.1 2.2 2.3 2.4 The Chicago Tribune "Quinn on tax hike: 'Our fiscal house was burning' Jan. 12, 2011
  3. ABC 7 Chicago "Quinn budget long on cuts, short on details" July 1, 2010
  4. The Chicago Tribune "Quinn floats $15 billion debt recovery plan" Dec. 27, 2010
  5. 5.0 5.1 5.2 5.3 Bloomberg "Illinois would Probably Raise Income-Tax Rate to 5%, Budget Director Says" July 28, 2010
  6. WBEZ.com "Report: Illinois Budget Crisis Worst in Nation" July 28, 2010
  7. NCSL financial study
  8. State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
  9. 9.0 9.1 USA Spending, State Guesstimated* Government Spending
  10. The Washington Post "Illinois seeks to borrow $3.7 billion to shore up pension shortfall" Feb. 22, 2011
  11. 11.0 11.1 Bloomberg "Illinois had Days to Plug $13 Billion Deficit That Took Years to Produce" Jan. 3, 2011
  12. The Wall Street Journal “States Face Budget Shortfalls of $26.7 Billion“ Dec. 8, 2010
  13. Cite error: Invalid <ref> tag; no text was provided for refs named grows
  14. 14.0 14.1 14.2 The Chicago Tribune "Quinn floats $15 billion debt recovery plan" Dec. 27, 2010
  15. National Conference of State Legislators "2011 Legislative Session Calendar"
  16. 16.0 16.1 16.2 16.3 16.4 16.5 Business Week "Ill. Legislature adjourns, leaving big budget hole" May 28, 2010
  17. "Ill. budget short on money, long on question marks" May 28, 2010
  18. 18.0 18.1 "Quinn says no need for special session to spend new federal funds for education, Medicaid" Aug. 13, 2010
  19. 19.0 19.1 "Fed’s State Aid Package would Boost Illinois" Aug. 11, 2010
  20. The Chicago Tribune "State closes 13 tourist centers to save money" August 11, 2010
  21. 21.0 21.1 21.2 21.3 21.4 21.5 21.6 21.7 21.8 21.9 The State Journal Register "Quinn trims state budget again" Aug. 4, 2010
  22. 22.0 22.1 22.2 22.3 22.4 "Ill. gov. provides new detail on $1.4B in cuts" August 3, 2010
  23. "Facing heat, Quinn cuts top staff pay" July 16, 2010
  24. The State Journal Register "Medicaid funding loss fears led to state worker furlough decision" July 29, 2010
  25. The State Journal Register "Quinn to review federal funding before acting on furloughs" August 11, 2010
  26. The Northwest Herald "Quinn changes state furlough day rules" Aug. 29, 2010
  27. National Public Radio "State Budget Gaps: Debt Holes Deepen" Sept. 10, 2010
  28. 28.0 28.1 28.2 The Chicago Tribune, "Study: State's fiscal woes hike borrowing costs" Aug. 30, 2010
  29. 29.0 29.1 NPR.com "Credit Scares: Thriftier States Reduce Red Ink" July 22, 2010
  30. 30.0 30.1 30.2 CNNMoney.com Illinois: Our very own Greece? July 14, 2010
  31. The Peoria Journal Star "Fitch lowers Illinois' bond rating" June 18, 2010
  32. Bloomberg "Illinois Pensions Dwindle as Candidates for Governor Skirt Budget Crisis" Oct. 27, 2010
  33. 33.0 33.1 The Wall Street Journal "States Skip Pension Payments, Delay Day of Reckoning" April 9, 2010
  34. 34.0 34.1 Chicago Tribune "Quinn signs bill to cut state pension costs" April 13, 2010
  35. 35.0 35.1 35.2 Quincy Herald Whig "Quinn says tax hike plan honest, if not popular, and would preserve schools" Aug. 19, 2010
  36. 36.0 36.1 The Herald & Review "'Time bomb' ticking in state budget" Sept. 26, 2010
  37. 37.0 37.1 37.2 State of Illinois, “Illinois State Budget FY 2010,” March 16, 2009
  38. 38.0 38.1 National Association of Governors and National Association of State Budget Officers Fiscal Survey of States Table 1-C June 2010
  39. National Governors Association and National Association of State Budget Officers Fiscal Survey of States June 2010
  40. Illinois Comptroller Office, "In-Depth Analysis of Expenditures"
  41. 41.00 41.01 41.02 41.03 41.04 41.05 41.06 41.07 41.08 41.09 41.10 Executive Summary FY2007
  42. Executive Summary FY2003
  43. 43.0 43.1 Executive Summary FY2004
  44. 44.0 44.1 Executive Summary FY2005
  45. 45.0 45.1 Executive Summary FY2006
  46. 46.0 46.1 46.2 [1]
  47. Illinois Policy Institute, "Where can I find past copies of the Illinois state budget?," May 11, 2009
  48. Chicago Press Release, Governor’s Office of Management and Budget Improves Transparency by Releasing Quarterly Financial Reports – Financial Statements Now Available Without Delay, Dec. 9, 2010
  49. Previous Year Budget Books
  50. Illinois Policy Institute, "Illinois Fast Facts."
  51. State of Illinois - Budget, March 19, 2009
  52. Budget Illinois
  53. Helium.com, "Should the salaries of all Illinois state employees be available for public viewing on a Web site, as suggested in a bill in the General Assembly?"
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