Illinois Sinking in Debt

Oct 11, 2017

The comptroller of Illinois is juggling billions of dollars in unpaid bills. In the last three months billions of dollars in more bills have been sent to the comptroller’s office for payment. In some cases agencies were waiting until a budget resolution was finalized before sending in their bills. For instance, the Department of Corrections was withholding $471 million in unpaid bills. The governor vetoed legislation that would have required state agencies to report monthly their unsubmitted bills. The state legislature plans to vote to override the veto. The governor vetoed the bill because the state cannot tally its unsubmitted bills in a cost effective way. Many of the state’s bills are over 90 days old and “face a 1 percent-per-month late-payment fee. The comptroller’s office estimates the state will pay $900 million in late fees on the existing debt. The state comptroller’s office and the governor’s office have argued over the deficit and the backlog of bills When adding in the state’s pension obligations, Illinois has $200 billion in total liabilities.
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