Comptroller for the state of Illinois, Susana Mendoza, presented recent numbers with the State’s finances, including the success of the Debt Transparency Act at the office of the Aurora Regional Chamber of Commerce Monday.
“Today, it’s relatively good news amongst the bad news with the State’s finances, she said.”
“Services had gone rendered to the State of Illinois, yet no payment had been made for those services. It was a real detriment to so many businesses across the entire state of Illinois.
“We went from $16.7 Billion in November to $6.3 Billion. That is the lowest we’ve been since the budget impasse.”
Mendoza said the 736 day State budget impasse led to more than $1 Billion in late payment interest penalties.
Mendoza expressed frustration with not being able to pay the State’s debts. “The Comptrollers office had no legal authority to pay the State’s bills, except for circumstances where the courts intervened or there were existing State statutes.”
She said the Debt Transparency Act allowed her to see where all the money is going.
“If we don’t ever know how bad or truly horrible our State’s fiscal situation is, then we can never put the pieces in place to get the State moving in a better fiscal direction.”
Mendoza said previous governors didn’t want transparency, and she can see why.
See the video at facebook.com/thevoice.us.