Illinois CAFR shines light on state’s severe fiscal ills – The Bond Buyer

Illinois headed into the COVID-19 pandemic in weaker overall fiscal shape than the previous year as tax revenue fell short of offsetting the state’s obligations. The state’s net position of governmental activities for fiscal year 2019 eroded by $4 billion, pushing the deficit up to a negative $193.1 billion from $189.1 billion, according to the audit of the state’s comprehensive annual financial results for the fiscal year ending June 30, 2019.