Comptroller report shows state’s finances in bad shape, but improving
Comptroller report shows state’s finances in bad shape, but improving
The state of Illinois ran up a deficit of more than $7.7 billion in the fiscal year that ended June 30, 2018. But as bad as that sounds, it was only about half as bad as the $14.6 billion deficit amassed the year before. That’s one of the conclusions from the latest Comprehensive Annual Financial Report that Comptroller Susana Mendoza released Thursday.
Critical data, time lost in compiling state financial report
A major tech failure at two of Illinois’ largest agencies and a lack of a uniform financial system contributed to officials publishing a key document detailing the state’s fiscal health eight months late. The Comprehensive Annual Financial Report, released Thursday, is used by ratings agencies to determine Illinois’ credit rating, which affects the interest rates it receives...