COMPTROLLER MENDOZA COUNSELS CAUTION ON APRIL'S HIGHER-THAN-EXPECTED REVENUES

“Last week in testimony before the House and Senate Appropriations Committees, was pleased to announce that our April revenues were $1.5 billion higher than expected. However, also sounded an important note of caution about those revenues. It is important to keep in mind that we still face a $6-to-$8 billion backlog of pending bills with no dedicated revenue stream to pay them. We have aggressively targeted the state’s highest-interest-accruing bills with those receipts, bringing the backlog lower than it would otherwise be, to $6.07 billion as of today. 

“While we cannot confirm or deny the Dept. of Revenue’s projection of $800 million more than expected for Fiscal Year 2020 at this time, we are hopeful and will continue to research this possibility thoroughly. My office has prioritized pension payments and debt service since I took office and that will be our policy going forward. “

 

- Susana A. Mendoza, Illinois Comptroller