Comptroller praises ‘fiscal stability’ at the end of fiscal year

SPRINGFIELD, Ill. (NEXSTAR) — The start of July means the end of another fiscal year for the state. Comptroller Susana Mendoza’s office released their report on the state’s finances.
It showed another year of the state paying it’s bills on time. Currently the state is caught up on all expenses from the previous year.

“”I’m committed to giving our state providers and vendors the stability and predictability that they should expect from state government. Having received countless hardship calls from these providers and vendors during the state’s budget impasse, I believe it is the responsible approach we must continue to take,” Comptroller Susana Mendoza said.

The state also has over 2 billion dollars in its rainy day fund. It’s a big increase from the relative pocket change the state had in the fund before the pandemic, but it is still not as high as the Comptroller’s office would like it to be.

“For Illinois, it’s a true success,” Assistant Comptroller Kevin Schoeben said. “But you say like what other compared to other states, when you look at the other states, rainy day funds, while we have 2.2 billion in the state’s rainy day fund today, we still have a lot more work to do in order to save so that we can prepare for those economic downturns. And for any failures in revenue.”

The state also has 1.7 billion leftover in it’s accounts following the fiscal year.

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