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October 23, 2014, 6:44 am
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Illinois Finishes Fiscal Year In The Red... And Getting Redder


Illinois finished its fiscal year more than $6 billion in the red… which was actually an improvement over the previous year, but not an improvement that is likely to last. 

 

Comptroller Judy Baar Topinka says an unexpected spike in tax receipts this spring provided more money to pay down the state’s backlog of bills.  But Topinka says that so-called “April surprise” is now gone, and the state’s debt is climbing again. 

 

Topinka expects the stack of unpaid bills will grow to $7.5 billion by August… and keep climbing after that.

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