Illinois finished the first three months of its budget year in some of its worst financial shape ever, with a mountain of unpaid bills and record delays in payments, Comptroller Dan Hynes says in a new report.
Worse, the report said, with the state's economy still faltering, the backlog of bills and payment delays "will experience an even greater increase by the end of the calendar year and beyond."
State tax collections (and consequently how long it takes the state to pay bills) commonly fluctuate throughout the budget year, which started July 1.
However, the report makes it clear that, on a year-to-year basis, things are getting worse, not better.
Read the entire article here.