IIFS Blog Archive: January 2012
On January 19, 2012, Governor Pat Quinn announced plans to close a State psychiatric hospital in Tinley Park and a State residential facility for the developmentally disabled in Jacksonville. The Tinley Park Mental Health Center is scheduled to cease operations in July 2012, while the Jacksonville...
Six months after the end of the last fiscal year, the Illinois State Comptroller is reporting that $5.2 billion of FY2012 revenues were needed to pay off the State’s bills from FY2011.
On January 11, 2012, the State of Illinois sold $800 million of General Obligation bonds to support capital projects. The bond offering included $525 million of tax-exempt bonds, as well as $275 million of taxable bonds to reimburse other governments for previously completed projects.
Governor Pat Quinn released a three-year budget projection for the State of Illinois this week that shows only minor improvements in the State’s financial circumstances in the near term and declining prospects for Illinois’ future fiscal stability.