The Illinois balance sheet is based upon amounts at three different times. Most of the amounts are as of June 30, 2016, but the state’s largest liabilities, the unfunded pensions, are based upon June 30, 2015 valuations. The 2016 unfunded liabilities are at least $20 billion more than what was reported on the balance sheet. The unfunded retiree health care liability is based upon a June 30, 2014 valuation. I couldn’t find a new valuation on the web. Without accurate and TIMELY financial data, how can Illinois citizens be active participants in their government’s financial decisions? Comment: See our article

February saw the worst WARN report in seven months, with nearly 250 of the jobs lost coming from the manufacturing sector.

Illinois could be $657 million short on revenue for the current fiscal year due to falling tax collections, according to a revised forecast released on Tuesday by a legislative commission. The Commission on Government Forecasting and Accountability (COGFA) reported that revenue from personal and corporate income taxes and sales taxes was down 5 percent in the first eight months of fiscal 2017, compared with the same period in fiscal 2016.

New Jersey is slightly higher.

Gov. Bruce Rauner is aggressively pushing a plan that could mean major changes to the way most of Illinois’ poorest residents receive their health care.

From The Bond Buyer’s Yvette Shields: Illinois governments could lose up to $400 million in federal interest rate subsidies for Build America Bonds under prolonged federal budget sequestration.

Comment: The extreme problems caused by a freeze may be true, but the fact remains that rates are already suicidal in large parts of Illinois, threatening to make property “roach motels,” as we wrote earlier.

Proft said if the budget passes the Senate and House, it leaves the governor with two hard choices: If he signs the budget, he betrays his campaign promises to provide tax relief to Illinois’ long-suffering taxpayers. Signing the bill might even destroy his chances at re-election.

“But what about the state’s fiscal apocalypse, which is not only happening right now but has pl”unged Illinois into a bona fide financial disaster”