Illinois to Start 2017 With Over $10 Billion in Unpaid Bills

From Bloomberg: Illinois’s unpaid bills will continue to accumulate throughout the rest of 2016, leaving the state with a backlog of more than $10 billion by the start of next year, according to Comptroller Leslie Geissler Munger.

The stack of unpaid invoices will lead to payment delays while a stopgap budget remains in place for the next six months, Munger said. Passed on June 30, the plan averted a government shutdown and ended a record year-long impasse that caused funding for universities and other programs to dry up. The compromise temporarily keeps services and infrastructure projects afloat, but pushes off bills that continue to grow and inevitably have to be paid. The backlog currently stands at about $7.8 billion.

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