On the heels of Governor Pat Quinn’s budget outline for Fiscal Year 2011, Senator Tim Bivins says that Comptroller Dan Hynes released a final Fiscal Year 2010 report that verified “Illinois ended the year in the worst fiscal position in its history.”
At the end of the fiscal year, which concluded June 30, the state’s General Revenue Fund (GRF) balance was negative $4.692 billion—the lowest budgetary balance in Illinois history.
The backlog of Illinois’ unpaid bills was a historically high $4.712 billion. Last year, the backlog was $2.785 billion.
Lacking revenue to pay the state’s bills, in June it took a record 153 working days for the comptroller’s office to reimburse vouchers. At the same time in 2009, the delay was 99 days.
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