Illinois's reported net position is overstated by $7.7 billion, largely because the state delays recognizing losses incurred when the net pension liability increases. The state's financial report was released 298 days after its fiscal year end, which is considered untimely according to the 180 day standard. Illinois Economic and Fiscal Policy Report The Governors Office of Management and udget (GOM ), pursuant to 20 ILS 3005/7.3, annually ... upcoming fiscal year and for the subsequent four fiscal years. Revenues only cover 92 percent of expenses, with a worsening net position of –$450 per capita. As a result, many state agencies had to cut services or continue borrowing to operate. The new fiscal year began Saturday without a spending deal, the third year in a row that America's fifth-largest state has failed to pass a constitutionally required budget. In 1980, Illinois had $4.5 billion in unfunded pension debt and a perfect credit rating. 2010 reported that Illinois’$13 billion deficit accounted for about half the total of state deficits nationally and was nearly ... years’deficits—are more than $12 billion .8 According to an October 2010 report is - sued by the comptroller’s office, there is a Illinois has compiled $14.6 billion in unpaid bills. It should be plain to see that debt has skyrocketed, and far beyond what can be adjusted away by looking at … $168,807,499,643 12,631,724. State of Illinois Real Time Debt Clock. Illinois pension debt, 1987 - 2018. own work. It’s running a deficit of $6 billion, and its pension liability has soared to $130 billion. The Illinois Budget Impasse was a 793-day-long budget crisis in the state of Illinois.From July 1, 2015, to August 31, 2017, Illinois was without a complete state budget for fiscal years 2016, 2017, and part of 2018. The report also includes a review of the https://www.statista.com/statistics/305333/illinoisstate-debt On the basis of its solvency in five separate categories, Illinois ranks 50th among the US states for fiscal health. Illinois has between 0.55 and 1.13 times the cash needed to cover short-term obligations, well below the US average. All told, the Illinois Department of Public Health's budget increased by 144% compared with last year.