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Senate President talks about real problems to solving state’s budget woes

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The following slides walk through where the state of Illinois gets its funding, where that funding goes, the true pressures facing the state budget and the devastating trajectory of the backlog of unpaid bills.

The Senate President has been working on what’s been called a “Grand Bargain” to try to stabilize the state’s finances and enact key economic reforms.

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Senate President talks about real problems to solving state’s budget woes

  1. 1. FY17 Budget and Revenue Overview
  2. 2. Where the money comes from Source: COGFA FY17 Revenue Estimate (Revised March 2017) $31.4 billion
  3. 3. Current FY17 budget: Where the money goes Revenues: $31.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  4. 4. Current FY17 budget: Where the money goes Revenues: $31.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  5. 5. Current FY17 budget: Where the money goes Revenues: $31.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  6. 6. Current FY17 budget: Where the money goes Revenues: $31.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  7. 7. Current FY17 budget: Where the money goes Revenues: $31.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  8. 8. Current FY17 budget: Where the money goes Revenues: $31.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  9. 9. Current FY17 budget: Where the money goes Revenues: $31.4 billion Spending: $34.4 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  10. 10. Current FY17 budget: Where the money goes Revenues: $31.4 billion Spending: $34.4 billion Deficit: -$3.0 billion Source: PA99-524, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  11. 11. Total spending pressures for FY17 Revenues: $31.4 billion Source: PA99-524, SB6, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017) Spending: $34.4 billion
  12. 12. Total spending pressures for FY17 Source: PA99-524, SB6, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017) $4.3 BILLION IN ADDITIONAL SPENDING PRESSURES
  13. 13. Total spending pressures for FY17 Source: PA99-524, SB6, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017) $4.3 BILLION IN ADDITIONAL SPENDING PRESSURES
  14. 14. Total spending pressures for FY17 Source: PA99-524, SB6, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017) $4.3 BILLION IN ADDITIONAL SPENDING PRESSURES
  15. 15. Total spending pressures for FY17 Revenues: $31.4 billion Spending: $38.7 billion Deficit: -$7.3 billion Source: PA99-524, SB6, Governor’s FY18 Budget Book and COGFA FY17 Revenue Estimate (Revised March 2017)
  16. 16. $13,000,154,828.91
  17. 17. Unpaid Bill Backlog (2016 – 2022 est.) 0 5 10 15 20 25 30 35 40 45 50 Dec-16 Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-22 Backlogin$Billions $11 Billion $14 Billion Source: GOMB 5-Year Budget Forecast $21 Billion $28 Billion $34 Billion $41 Billion $47 Billion Election Day, 2018 $24 Billion
  18. 18. FY18 Estimated Revenue Senate Bill 9 (Estimate includes $329 million in tax credits) $5.66 Billion in new revenue ($ in millions)
  19. 19. FY17 Budget and Revenue Overview

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