There is even more money in the Illinois State Rainy Day Fund.  Comptroller Susana Mendoza announced a $350 million transfer to the Rainy Day Fund on Wednesday.  The fund has a balance of $1.58 billion which is near a record high.  Comptroller Mendoza announced Wednesday that the state’s total accounts payable has fallen to a new low of $478 million, a low not seen since July of 2008.  The state’s backlog of unpaid bills had risen to a high of $16.7 billion but this has been paid down.  

This is all part of a $850 million supplemental appropriation the legislature and Illinois State Governor JB Pritzker adopted in January. Comptroller Mendoza says that the rainy day fund is extremely healthy considering in August of 2018, the reserve account had stood at just $48,327.53. Comptroller Mendoza continues to call for regular automatic deposits into the Rainy Day Fund. 

Comptroller Mendoza announced on Monday that Illinois’ total General Funds accounts payable, including liabilities reported by state agencies via her landmark Debt Transparency Act Report, dropped to less than $1 billion for the first time in 15 years.  The accounts payable stood at $941 million on Monday, during a time when state revenues are higher due to the income tax deadline. 

Find out more by visiting Comptroller Susana Mendoza’s website at https://illinoiscomptroller.gov/.