deficit

The Illinois Comptroller's office says that payments required by the state are putting it on pace to rack up a $5 billion deficit. 

Illinois Democrats advanced more of their budget Wednesday, despite the deficit it would create. At the same time they squashed some of the Republican governor's requests.

State lawmakers are considering an across the board cut that translates into a $1 million loss for Peoria Public Schools this academic year.  The possibility comes as District 150 is currently grappling with a more than $11 million deficit.  School officials says the more than two-percent across-the-board cut would leave virtually no options for to cut expenses as the school year winds down.  The District 150 School Board will hear more financial information at its meeting Monday night

Oral arguments have begun before the Illinois Supreme Court on whether a massive state-employee pension bailout invalidated last fall by a lower court will be revived.

State Senate President John Cullerton says Gov. Bruce Rauner's proposed budget hurts working families and Illinois' most vulnerable residents.

Associated Press

When Governor Bruce Rauner delivers his budget address on Wednesday, it should end months of speculation about his specific plans to address the state budget deficit.

A series of speeches around the state gave a preview of what Governor Bruce Rauner will say Wednesday for his first "State of the State" address. 

Tanya Koonce / Peoria Public Radio

Peoria School District 150 is facing an 11 Million dollar deficit this year. Superintendent Grenita Lathan says the district is also now factoring in additional revenue loss.

Peoria Park District staff are proposing to close Newman Golf Course and look to lease out the Central Park Pool to cut costs. It’s part of an effort to fill a projected $1.3 million spending gap for the Park District next year. Director Bonnie Noble says the proposal is to maintain pool services through March of 2015 so the Park District swim team can finish the season:

Some Peoria County Board members say they oppose reducing its number of appointees on the Springdale Cemetery Authority.  The County pays $60,000 a year towards the cemetery operating deficit. The Park District pays $40,000 and the City pays the rest of any remaining deficit.  The City wants to have more representation on the Springdale Board.  That would mean a reduction in a County slot.  County Board member Allen Mayer says the County Board needs to maintain its current presence on the Springdale Authority:

Report: Illinois close to deficit spending

Oct 29, 2013

Illinois does not have enough cash in the bank to pay five billion dollars’ worth of its bills. The state is contributing a fifth of its spending on pensions, after years of skipping out, to the point that Illinois' retirement systems are owed 100 billion dollars.  And Illinois' budget structure is not equipped to handle it. That’s the takeaway of a report released by the University of Illinois' Institute of Government and Public Affairs. The report explores what Illinois can do to get on a path of fiscal stability.  

District 150 deficit spending to keep newer programs

Aug 26, 2013

Peoria School District 150 has a projected deficit of nearly $6 million.  Peoria Public Radio's Alex Rusciano reports that's compared to a deficit last academic year of nearly $3 million: