Thursday, Jul 8, 2010
* I told subscribers about this yesterday morning, but the comptroller’s office has released a new and very depressing quarterly fiscal report. Some highlights… um, make that “lowlights“…
*The adjusted year-end General Revenue Fund balance was a negative $4.69 billion — a record.
*The backlog of unpaid bills on June 30 was $4.7 billion — a record.
*Because of the state’s financial condition, the amount of time it takes the comptroller’s office to pay bills once they arrive in the office is 153 working days — a record.
“Illinois ended the year in the worst fiscal position in its history,” the report concludes.