Audit Report: State Revenue Declines Show Budget Reforms Are Desperately Needed
Nothing more clearly illustrates the peril faced by the State of Illinois than this week’s reports on Illinois’ short-term fiscal challenges as well as the long-term inability to modernize state government.
Two recent reports—one from the Commission on Government Forecasting and Accountability (COGFA) and Comptroller Dan Hynes’ office showing near term revenue shortfalls, and a new Auditor General’s report stating that Illinois does not know how many programs it has—presents compelling evidence that by mid-year Illinois could find itself in another perfect fiscal storm not unlike fiscal year 2002 – where, in the midst of a recession, state government shrank when ostensibly government services were in high demand.
To read the full report, please click here.
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