Illinois sets U.S. record: over 2 years late with state spending audit

By Jerry Barmore

09/01/2025

Accounting standards call for annual spending reports within 180 days of the year’s end. Illinois took 774 days to produce its 2023 report, setting a national record for tardiness.

TAGS: budget, ILGA: Illinois General Assembly, JB Pritzker

Illinois Forward 2026: How the state can spend responsibly

By Ravi Mishra, Lauren Zuar

02/12/2025

After years of splurging with revenue boosted by temporary federal aid, future deficits over $5 billion await the Illinois state budget. It’s time Illinois state leaders learn from past mistakes and manage other people’s money responsibly.

5 things wrong with Illinois holding 30% of U.S. pension bond debt

By Adam Schuster, Aneesh Bafna

09/10/2021

Pension obligation bonds, like payday loans, are a sign of mismanaged finances. Illinois not only leads the nation for using that risky debt, it owes the bulk of it.

TAGS: credit rating, debt, Illinois, pension obligation bonds

Doubling Illinois’ gas tax, other tax hikes will go to fund more than $1.4 billion of waste and pork

By Adam Schuster, Bill Reveille, Brian Butler

07/08/2019

Lawmakers sold 20 new taxes and fees as necessary to rebuild crumbling roads and bridges and balance the budget. Instead, taxpayers will be funding dog parks, swimming pools, snowmobile paths, a vacant theater and pickleball courts.

TAGS: gas tax, income tax, JB Pritzker, taxes, waste

Illinois can spend another $10B on infrastructure without tax hikes

By Adam Schuster

05/15/2019

Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.

Pritzker budget doubles down on failure

By Austin Berg

02/21/2019

Getting behind bipartisan budget reform is the kind of bravery Illinoisans deserve from the executive branch. Instead, they’re getting more of the same.

TAGS: balanced budget requirement, borrowing, budget, debt, JB Pritzker, pensions

Fitch warns against CTBA’s reckless pension plan

By Adam Schuster

12/11/2018

Fitch Ratings has issued a warning about a pension plan pushed by one Illinois think tank, which includes no reform and would harm the state’s credit rating. The response from the Center for Tax and Budget Accountability proves how indefensible the plan really is.

TAGS: CTBA: Center for Budget and Tax Accountability, Fitch Ratings, municipal pensions, pension guarantee, pensions, property taxes, taxes

CTBA pension plan: Unsound, unfair and unaffordable

By Adam Schuster

11/26/2018

A pension plan pushed by one Illinois think tank fails to reform the state’s broken pension system and risks repeating costly mistakes. Gov.-elect J.B. Pritzker shouldn’t be fooled and should instead endorse meaningful, lasting reform.

TAGS: CTBA: Center for Budget and Tax Accountability, debt, Edgar Ramp, JB Pritzker, Jim Edgar, municipal pensions, pension guarantee, pensions

Waste Watch: Nearly $100M of waste in Illinois state and local government

By Adam Schuster, Alec Mena, Travis Nix

10/08/2018

Illinois taxpayers are fed up and overtaxed. Residents have little faith that their governments are spending their tax dollars well – and for good reason. The state’s most recent spending plan is out of balance by as much as $1.5 billion, and includes $54.2 million in wasteful spending and $27 million in pork-barrel spending. The...

Shell game: Chicago considers plan to borrow $10B to pay off pension debt

By Adam Schuster

08/09/2018

Previous pension obligation bonds in Illinois have increased costs to taxpayers and done nothing to solve the fiscal challenges created by the pension system.

TAGS: Chicago, Chicago City Council, municipal pensions, pensions, Rahm Emanuel

Government Finance Officers Association

Illinois sets U.S. record: over 2 years late with state spending audit

Illinois Forward 2026: How the state can spend responsibly

5 things wrong with Illinois holding 30% of U.S. pension bond debt

Doubling Illinois’ gas tax, other tax hikes will go to fund more than $1.4 billion of waste and pork

Illinois can spend another $10B on infrastructure without tax hikes

Pritzker budget doubles down on failure

Fitch warns against CTBA’s reckless pension plan

CTBA pension plan: Unsound, unfair and unaffordable

Waste Watch: Nearly $100M of waste in Illinois state and local government

Shell game: Chicago considers plan to borrow $10B to pay off pension debt

FAQ: How the federal scholarship program would help Illinois students

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students