Budget
Gov. JB Pritzker will give his sixth state budget address this week, laying out his plan for a fiscal year that government forecasters in November predicted is on pace for a near-$900 million deficit unless corrective action is taken. Those same fiscal forecasters in the Governor’s Office of Management and Budget, however, predicted that the…
Read Full Article With Illinois lawmakers scheduled to return to legislative session in less than a month, a recent government fiscal forecast provides an overview of the budgeting landscape that awaits them. The bottom line from the five-year forecast from the Governor’s Office of Management and Budget: The current fiscal year is now projected to end with a…
Read Full Article QUINCY — The Adams County Board unanimously passed its 2024 million budget at its meeting Tuesday night. The overall budget of $61,472,277 includes $21.9 million in the county’s general fund, which makes up a majority of salaries and day-to-day operations, and $39.5 million in other funds, including county highway, health and ambulance budgets. The budget…
Read Full Article SPRINGFIELD – Gov. JB Pritzker’s second-term legislative agenda will kick off in earnest next week as he proposes his fifth annual state budget to lawmakers in the General Assembly. But while a governor’s proposal usually provides the framework for the state’s annual spending plan, it rarely makes it through the General Assembly untouched by lawmakers…
Read Full Article SPRINGFIELD – Sustained higher-than-predicted state tax revenues have in recent months given lawmakers a level of budgeting flexibility that is, at least in modern times, without precedent in a state with a reputation for perilous finances. For the current fiscal year and the one before it, that’s led to another uncommon Capitol occurrence: budget surpluses…
Read Full Article QUINCY — The Adams County Board passed a nearly $57 million budget Tuesday night that will use carry-over funds from the current fiscal year to balance. In the final County Board meeting of the current fiscal year, the County’s new budget year begins Dec. 1, the budget passed by an 18-1 vote, with John Brady…
Read Full Article QUINCY — The Quincy School Board unanimously approved the 2022-23 fiscal year budget for the school district. The budget calls for spending $96.1 million with revenues topping the $100 million mark for the first time in district history, thanks to an increase in federal dollars. So if this year’s nearly $4 million budget surplus holds,…
Read Full Article QUINCY — When Mike Troup took office as Quincy’s mayor last May, he had to work with the budget the previous administration constructed and the City Council had approved. And his first year ended with an unanticipated $9 million in additional tax revenue and $5.4 million in American Rescue Plan Act funding. That led to…
Read Full Article SPRINGFIELD – A House revenue committee this week heard projections of an Illinois economy that is steadily moving back toward a level of pre-pandemic normalcy, which means revenue spikes realized due to temporary changes in consumer spending habits and federal stimulus packages are expected to subside. Illinois Department of Revenue Director David Harris characterized the…
Read Full Article SPRINGFIELD – Gov. JB Pritzker on Wednesday offered a $45.4 billion general revenue budget plan for the upcoming fiscal year that would include new spending on education and health care while also providing about $1 billion in tax relief that he said would soften the impact of inflation on Illinois consumers. In his budget address…
Read Full Article Wednesday speech will outline plan to ease grocery, motor fuel, property taxes SPRINGFIELD – Gov. JB Pritzker will propose a roughly $1 billion package of tax relief measures aimed at mitigating the impact of inflation on Illinois consumers when he gives his budget address Wednesday. The “Illinois Family Relief Plan,” as it is being called,…
Read Full Article Federal money to fund housing, violence prevention, capital projects By PETER HANCOCKCapitol News Illinoisphancock@capitolnewsillinois.com SPRINGFIELD – Illinois lawmakers worked into the early hours of Tuesday morning to pass a $42.3 billion state budget plan for the upcoming fiscal year that Democrats say would fully fund K-12 education and the state’s pension obligations while also paying…
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