IIFS Blog Archive: September 2010
09.30.10
Moody’s Goes Negative on Illinois Debt
Citing reliance on one-time revenue sources, such as borrowing, to try and close its FY2011 operating shortfall, Moody’s Investors Service announced last week that it was downgrading its outlook on the State of Illinois’ $25 billion of outstanding General Obligation Bonds (GO Bonds)...
09.23.10
Medicaid Update: Illinois’ Stimulus Funding Less Than Budgeted
The State of Illinois will receive less federal Medicaid funding than it budgeted for in FY2011—but more than had been feared several months ago. After months of debate, Congress in August of 2010 passed and President Obama signed a bill extending enhanced Medicaid payments that were...
09.17.10
State of Illinois Begins Borrowing Special Funds
Only two months into the new fiscal year, the State of Illinois has already begun pushing FY2011 operating costs into the next fiscal year. By borrowing cash on hand in the State’s special funds, rather than sweeping it, the State has passed on more than $70 million in current operating...
09.09.10
New State Plan Aims to Reform Care for Developmentally Disabled
The State of Illinois lags behind other states in the use of community care for the developmentally disabled, but a new plan would bring Illinois in line with national standards by 2017. The strategic plan for FY2011 to FY2017, issued by the Division of Developmental Disabilities (DDD) of the...
09.03.10
State Paid Additional $551 Million for Last Year’s Bonds
Earlier this week the Institute for Illinois’ Fiscal Sustainability at the Civic Federation released a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued over the past year. The report estimated that the State might pay as much as $551.3 million...