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Illinois' fiscal condition worsens despite higher revenues, interim annaul report says

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Despite bringing in billions of dollars more in tax revenue, Illinois state government’s fiscal condition continues to deteriorate, according to an interim annual report published by the Illinois comptroller.

The five-page Interim Comprehensive Annual Financial Report is for the fiscal year that ended June 30, 2019.

The report shows tax revenues to Illinois state government increased by more than $3 billion, from $74 billion in 2018 to $77.9 billion in 2019. Total expenses were also up, from $80.3 billion in 2018 to $81.5 billion in 2019. The largest amount of revenue, outside of money from the federal government, is income taxes.

 
Overall, Illinois Comptroller Susana Mendoza’s office said in the report there was a negative net position of $187.7 billion, $3.7 billion more than last year’s position of $184.0 billion. Total liabilities were $248.7 billion, an increase of $603 million from the year before.:snip:

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