Illinois’ Finances Stabilized Before the Start of FY ’22 without Federal Funds — It’s a myth that federal funds received through the American Rescue Plan Act (ARPA) bailed Illinois out of its fiscal problems. The truth is, Illinois’ financial situation improved before ARPA dollars arrived. Throughout 2020, Illinois did receive federal funding, but those funds were designated for programs to address the COVID-19 pandemic and were not used to pay down Illinois’ outstanding bill backlog or to improve the state’s overall fiscal standing.

IOC holding steady on vendor payments, oldest GRF voucher at 10 business days to close April — At the end of the day April 30, the oldest General Revenue Fund voucher at the Illinois Office of Comptroller was 10 business days. This chart shows how this compares to the end of the calendar year and the end of the fiscal year since Fiscal Year 2018, starting with…

Supporting First Responders and Their Families; Saving for a Rainy Day — The General Assembly got off to a fast start in January as lawmakers convened to conduct final business of the 102nd General Assembly. After higher-than-expected revenues came into state coffers, the General Assembly voted to approve supplemental appropriations for the second half of Fiscal Year 2023. The additional spending package…

SAVE in Belleville Connects Those Living with Developmental Disabilities to Job Training and Life Skills — The St. Clair Associated Vocational Enterprises (SAVE) campus in Belleville, Illinois is clearly more of a community than a facility. The nonprofit’s mission is to promote “the personal and vocational development of people with developmental disabilities and increases their community inclusion” — according to its website, saveorg.org.

An interview with Jaime di Paulo of the Illinois Hispanic Chamber of Commerce — Jaime di Paulo is President and CEO of the Illinois Hispanic Chamber of Commerce (IHCC). Based in Chicago and representing businesses across the state, it is the top Hispanic business organization of its kind in the Midwest — helping business leaders learn, advocate, develop and network. The head of IHCC…

Promoting community health, employment and education — In 1887, a group of community leaders in Denver, Colorado created an organization to coordinate health and welfare agencies. …

State’s emergency reserve grows to historic highs — The Budget Stabilization Fund, more commonly referred to as the Rainy Day Fund, has made history under Comptroller Mendoza’s administration. On March 29, 2023, Mendoza announced a $150 million transfer to the Rainy Day Fund, bringing the fund’s balance to a record-high amount of $1.22 billion. As this chart shows, the projected amount of the Rainy Day Fund by the end of this current fiscal year, on June 30, $1.9 billion.

Illinois Receives Seventh and Eighth Credit Rating Upgrades — S&P awarded Illinois a one-notch upgrade, from BBB+ to A-. The last time Illinois scored an A- rating from S&P was June 2016, when the state’s credit ratings were mired in a 13-year decline. Moody’s bumped Illinois to A3 from Baa1. …

MEETING CHALLENGES, PLANNING FOR THE FUTURE — Dear Readers, I have good news for you! Since I took office, Illinois has earned eight credit upgrades, after nothing but downgrades the two decades prior. I have eliminated our bill backlog, which once reached $16.7 billion in 2017, under the former administration. …