Illinois

Illinois reports paying its bills on time and in full

Published

2 years ago

July 5, 2024

Illinois reports paying its bills on time and in full

The Illinois state comptroller reported a 55% year-over-year increase in the end-of-year general revenue fund cash balance as her office paid the state’s bills in a timely manner, a departure from recent years when the state’s unpaid bill backlogs topped $10 billion.

Illinois ended the fiscal year with a $1.7 billion balance in the general revenue fund, up from last year’s $1.1 billion, said State Comptroller Susana Mendoza.

That stands in stark contrast to roughly a decade ago, when a backlog of $8.5 billion in unpaid bills had then-Comptroller Leslie Geissler Munger warning of a “recipe for disaster.” Or to 2016, when Illinois was facing down a $10 billion to $12 billion backlog, which surpassed the record $9.9 billion backlog in 2012.

Illinois State Comptroller Susana Mendoza plans to take advantage of a new provision in the budget implementation law that allows the comptroller’s office to pre-pay the state’s required monthly pension payments.

Illinois State Comptroller’s office

When Mendoza took office in late 2016, she inherited a $15 billion backlog of unpaid bills. That would ultimately rise to rise to $16.7 billion in 2017 before dropping steadily during the administration of Gov. J.B. Pritzker, who took office in 2019, replacing Bruce Rauner, a Republican whose budget wars with the Democrats who led the state legislature left the state for two years.

By last year, the state had closed out the fiscal year with a $1 billion general revenue fund balance and increased the rainy-day fund balance to $1.94 billion.

The rainy-day fund is now projected to reach $2.3 billion by June 2025, according to Mendoza’s office.

“It’s dramatic, and it’s been a priority of the administration, the General Assembly and our office to build that up,” said Abdon Pallasch, spokesperson for the comptroller. “It’s something that the rating agencies have mentioned when they’re evaluating Illinois bonds, they’d like to see a better rainy day fund. And they’ve been noting the progress.”

Moody’s Ratings in April revised the state’s outlook to positive from stable and assigned a rating of A3 to the state’s new GOs. S&P Global Ratings assigns an A-minus long-term rating to the state’s GO bonds, a BBB-plus rating on its appropriation-backed debt and a BBB-minus on the state’s moral obligation debt; the outlook is stable.

Fitch Ratings assigns an A-minus long-term rating with a stable outlook to the state’s general obligation unlimited tax debt and GO bonds. Kroll Bond Rating Agency rates the state’s Build Illinois Bonds AA-plus with a stable outlook.

The state is from having triple-B-minus ratings across the board.

“The state’s progress in improving its structural budget alignment, paying down liabilities and building its budgetary reserves all place it on a positive credit trajectory, but the stable rating outlook continues to reflect our view that there remain meaningful upside constraints that keep it separate from more highly rated states,” S&P director Scott Nees said in an April statement.

The state pension systems remain underfunded, and a proposed change by Pritzker’s administration to raise funding levels from the current statute’s requirement of 90% to the actuarially-recommended 100% failed to make it into the final fiscal 2025 budget.

Mendoza has pushed to make extra payments into the state pension systems and the rainy-day fund. She now says she plans to take advantage of a new law permitting the comptroller’s office to pre-pay the required monthly pension payments.

The provision, proposed by Mendoza, was included in the budget implementation bill passed by the General Assembly and signed into law by Pritzker last month. Previously, the law did not permit additional payments to the pension systems beyond the set monthly payments required by statute. The comptroller is now able to make additional payments.

“This will enable the [retirement] systems to plan accordingly and keep more of the pension funds in their investment portfolios,” Mendoza said in a statement.

“With the pensions, every little bit helps, and when they’re not having to wait until the last minute, that means they don’t have to disrupt the investments they have going that get good returns,” said Pallasch. “It gives them the ability to plan… This helps combat the pension shortfall, so even less repair is needed going forward.”

Mendoza “would like to see even more,” Pallasch said. She’s proposed a bill that would trigger a 1% automatic monthly transfer into the state’s budget stabilization fund and pension stabilization fund when Illinois’ revenue growth is 4% or greater and the state’s bill backlog is under $3 billion.

The last version of that legislation, House Bill 2515, never made it out of the Rules Committee.

Mendoza noted in a statement that the state generated 53% more in interest income than last fiscal year by keeping a healthy cash balance throughout 2024. It’s a far cry from the days when the state government on its unpaid bills.

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Illinois

Vanderbilt vs Illinois predictions, picks, odds for NCAA Tournament Second Round

Published

2 hours ago

March 23, 2026

Press Room

Vanderbilt vs Illinois predictions, picks, odds for NCAA Tournament Second Round

The Second Round of the women’s 2026 NCAA Tournament continues Monday with a slate featuring No. 2 Vanderbilt vs. No. 7 Illinois on the eight-game schedule.

Here is the latest on Monday’s March Madness matchup, including expert picks from reporters across the USA TODAY Sports Network.

USA TODAY Sports has a team of journalists covering the women’s NCAA Tournament to keep you up to date with every point scored, rebound grabbed and game won in the 68-team tournament.

USA TODAY Studio IX : Check out our women’s sports hub for in-depth analysis, commentary and more

Join the USA TODAY $1 million Bracket Challenge

No. 2 Vanderbilt vs No. 7 Illinois prediction

Heather Burns: Vanderbilt
Mitchell Northam: Vanderbilt
Nancy Armour: Vanderbilt
Cydney Henderson: Vanderbilt
Meghan Hall: Vanderbilt

No. 2 Vanderbilt vs No. 7 Illinois odds

Opening Moneyline: Vanderbilt (-1000)
Opening Spread: Vanderbilt (-13.5)
Opening Total: 153.5

How to Watch Vanderbilt vs Illinois on Monday

No. 2 Vanderbilt takes on No. 7 Illinois at Memorial Gymnasium in Nashville on March 23 at 7:00 p.m. (ET). The game is airing on ESPN2.

Stream March Madness on Fubo

2026 Women’s NCAA Tournament full schedule

March 18-19: First Four
March 20-21: First Round
March 22-23: Second Round
March 27-28: Sweet 16
March 29-30: Elite 8
April 3: Final Four
April 5: National Championship

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Illinois

Illinois Secretary of State’s Office warns of ‘new surge’ in scam texts

Published

14 hours ago

March 22, 2026

Press Room

Illinois Secretary of State’s Office warns of ‘new surge’ in scam texts

The Illinois Secretary of State’s Office is warning residents of a “new surge” in scam texts claiming to be from the DMV and demanding money.

According to a press release from Secretary of State Alexi Giannoulias, residents are receiving text messages falsely claiming to either be from his office or a DMV, threatening suspension of license and vehicle registration if “fines” are not paid.

The messages often include links that can be used to steal residents’ information, and Giannoulias’ office is reminding residents to use vigilance and caution when receiving such messages.

“These text messages look legitimate and are designed to frighten people into acting quickly before they have time to think,” Giannoulias said. “Our office will never send a text message demanding payment or threatening to suspend someone’s license. If you receive a message like this, remember it’s a scam – plain and simple. Do not click the link and please report the message to scamalert@ilsos.gov.”

According to his office, the messages often reference fake regulations or deadlines, and cite an upcoming enforcement date to add an air of urgency to the texts.

“These schemes are designed to create panic and trick individuals into surrendering money or personal information,” the Secretary of State’s Office said.

If a motorist receives a text, they are urged:

-NEVER to click a link

-Do not reply

-Do not provide personal information

-Forward the message to the SOS’ scam alert email.

The only legitimate text messages the Secretary of State’s Office sends are to remind motorists of upcoming appointments at DMV facilities.

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