"Illinois’ Annual Comprehensive Financial Report for fiscal years ending June 30 for 2022-23 and 2023-24 have yet to be issued. With fiscal year 2024-25 wrapping up in June, legislators need to approve a budget for 2025-26. How much can Illinois taxpayers afford to spend? What is the state’s credit limit? Do the governor and legislators view Illinois taxpayers’ resources as limitless?"
This illustrates the corruption and nonsense in today’s public finance world.
The state and city both plan to sell several hundred million dollars worth of bonds this year.
Who would loan hundreds of millions of dollars to an entity that cannot produce the last three years worth of financial statements?
“ACFR? We don’t need no stinking ACFR!”