Mendoza: Time To Retire ”Bill Backlog” From Discussion Of Illinois Finances

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Illinois Comptroller Susana Mendoza says she’s retiring the term “bill backlog” in reference to the state’s finances.

 

Mendoza says she has repaid the final $297 million that the state borrowed from various dedicated funds in order to pay off $16 billion in bills that stacked up during a two-and-a-half year budget impasse. Mendoza says stronger-than-expected revenues allowed the money to be repaid months ahead of schedule. As a result, Mendoza says the state’s obligations now fall within a normal 30-day payment cycle.

 

She says that means the term “bill backlog” no longer applies, and her office will now refer to pending payments as “accounts payable.”

Region: Springfield,Feeds,News,Prairie,Region: Central,City: Springfield

via 92.7 WMAY https://www.wmay.com

March 30, 2022 at 01:38PM

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