06 Jun 2013

Governor Quinn Signs Honest Budgeting Legislation

By Abdon Pallasch

CHICAGO - As part of his commitment to restoring fiscal stability to Illinois, Governor Pat Quinn today signed an honest budgeting bill that will pay off more than $1 billion of the state's overdue bills. Successive years of under-appropriating programs by the General Assembly has lengthened the time it takes to pay the state's social service providers, such as homes for children and adults with developmental disabilities. House Bill 206 will bring relief to those providers. The bill includes many of the governor's honest budgeting initiatives and was negotiated with the Illinois House and Senate.

The Community Care Program, which provides home assistance for the elderly, will receive $142 million. Another $235 million will go to the care of people with developmental disabilities. Group Health Insurance will receive $350 million, and $500 million will go to Medicaid bills.

The bill includes $42 million to make payroll at the state Department of Corrections, as well as funding for the Court of Claims and crime victims' compensation fund. The bill also includes nearly $6 billion for the state's fiscal year 2014 certified pension contribution.

For the fifth year in a row, Governor Quinn is making the full contribution to the pension systems.

  ###
04 Jun 2013

Governor Quinn Statement on Illinois Credit Downgrade

By Abdon Pallasch

CHICAGO - Governor Quinn today issued the following statement regarding Fitch's downgrade of Illinois' credit rating.

"Today's downgrade is no surprise. As I have repeatedly made clear to the General Assembly, this will continue to happen until legislators pass a comprehensive pension reform bill, and put it on my desk.

"Every time the General Assembly misses the deadline, Illinois' credit rating is downgraded, which hurts our economy, wastes taxpayer dollars and shortchanges the education of our children.

"If I could issue an Executive Order to resolve the pension crisis, I would have done it a long time ago. But I cannot act alone. Legislators must send me a bill to get this job done.

"I plan to meet with the Speaker of the House and the Senate President tomorrow.

"I will keep fighting for pension reform until it is the law of the land."

###
14 May 2013

Governor welcomes Civic Federation budget analysis

By Abdon Pallasch

Governor Quinn welcomes the Civic Federation's analysis of our proposed FY14 budget; the group's endorsements of our major budget policy initiatives; and their exhortation to Illinois' General Assembly to pass comprehensive pension reform.

The Civic Federation's report issued Monday begins: "The Civic Federation supports Governor Pat Quinn's recommended FY2014 budget for the State of Illinois because it balances revenues and expenditures without borrowing and makes progress toward reducing the State's backlog of bills...

"The Civic Federation agrees with Governor Quinn that comprehensive pension reform must be the General Assembly's top priority in addressing the State's financial problems."

The group notes approvingly that the proposed budget "curbs the budgetary gimmick of deferring annual costs to future fiscal years."

"The Civic Federation supports the following aspects of the Governor's FY2014 budget:

* The Governor's call for comprehensive pension reform as part of the FY2014 budget.

* The transformation of the State's Medicaid program through moving to managed care and shifting resources from institutional care toward community care;

* The proposal to pay down the State's accumulated backlog of unpaid bills and Other General Funds liabilities by more than $800 million; and

* The proposal to reduce the State's transfers for local governments and mass transit and to annually review legislatively required transfers as part of the annual appropriation process.

Read the report at: http://www.civicfed.org/iifs/publications/fy2014recommended

###

11 Mar 2013

Illinois Resolves SEC Inquiry Regarding Pension Disclosures from 2005 to early 2009

By Abdon Pallasch

The State of Illinois and the U.S. Securities and Exchange Commission (SEC) entered into a settlement order Monday ending an inquiry into pension disclosures in bond offerings made by the State between 2005 and early 2009. The order acknowledged the proactive steps taken by the State to enhance its pension disclosures and related processes since 2009. The State began these enhancements prior to being contacted by the SEC.

The State believed it to be in its best interests to enter into a settlement with the SEC. The State has cooperated fully with the SEC throughout the inquiry. The State neither admits nor denies the findings in the order, which carries no fines or penalties.

***

Subscribe & Listen to Reader Podcasts

On Stands Now

 

Tagged Content

Two Ways to Subscribe

1. Subscribe to free weekly e-mail content updates.

You'll get both the current official narrative challenge and What's Happenin' in the Quad Cities.
(Did you know we publish a new Amy Alkon Advice Goddess, Real Astrology, Red Meat cartoon and RCR Crossword every week?) 

* indicates required

View previous campaigns.

2. Get 12 monthly issues mailed first class for $48

Get 12 issues mailed monthly for $48 per year.

Get the printed Reader edition mailed to you (or anyone you want) first-class for 12 months for $48.
$24 goes to postage and handling, $24 goes to keeping the doors open!

Click this link to Subscribe now.