Illinois
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TIA Data 2023 Financial State of Illinois (Released 10/03/2024) Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states
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Illinois
SNAPSHOT BY THE NUMBERS
- Illinois's Bills Exceed Its Assets
- Assets * $111.5
- Less: Capital Assets * $42.8
- Restricted Assets * $16.9
- Assets Available to Pay Bills * $51.8
- Less: Bills * $227.2
- Money Available (Needed) to Pay Bills * ($175.4)
- Each Taxpayer's Surplus (Burden) ($37,000)
- The Bills Illinois has Accumulated
- State Bonds * $42.4
- Other Liabilities * $35.4
- Less: Debt Related to Capital Assets * $18.2
- Unfunded Pension Benefits * $146.3
- Unfunded Retirees' Health Care Benefits * $21.4
- Bills * $227.2
- * figures in billions
IN THE NEWS
Potential Concerns Regarding SEC Compliance: Analysis of Governor J.B. Pritzker’s Pension Funding Disclosures
In 2013, the Securities and Exchange Commission (SEC) charged the State of Illinois with securities fraud for misleading municipal bond investors about its pension funding obligations. The SEC’s investigation found that Illinois, between 2005 and 2009, misrepresented the risks associated with its pension funding schedule when offering more than $2.2 billion in municipal bonds. The state failed to disclose that its statutory plan significantly underfunded pension obligations, thereby increasing financial risks. In 2013, Illinois agreed to a cease-and-desist order to resolve SEC charges under Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933. (link to the SEC Cease-and-Desist Order)
Truth in Accounting’s Sheila Weinberg on Illinois’ pension mess and whether budgets are ‘balanced’
Illinois extremely late on its 2023 financial report. Explanation needed.
What’s the Matter With Chicago?
Illinois is falling short in ways that can be costly
Unhealthy financial status puts Illinois' on the critical list
2024 Financial State of the States: Illinois gets an ‘F’ again, ranked third worst ‘sinkhole’ state
READ MORE
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