The Institute has completed its two year study on the transparency in the state of Illinois budgeting processes.
The study noted that while the Illinois Constitution prohibits the state from spending more than 'funds available,' successive governors and legislators have so stretched that definition that it has become meaningless.
To determine what revenue and expense items should be in the balanced budget calculation, the Institute convened a panel of representatives from organizations holding a wide cross-section of public policy viewpoints. These experts found a great degree of consensus and were able to recommend a common-sense approach to the state's budget. Click here to download the full study.
The Illinois General Assembly is considering The Long-Term Accounting Act (HB3231) that incorporates many of the Institute's findings.