Title: State of Illinois FY2020 Budget Roadmap | The Civic Federation
Headings: State of Illinois FY2020 Budget Roadmap
State of Illinois FY2020 Budget Roadmap
February 13, 2019
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Click here to read the press release for this report.
AT A GLANCE
EXECUTIVE SUMMARY
The Civic Federation offers the following recommendations to begin stabilizing the State of Illinois’ financial position:
Issue 1: Spending Controls
Issue 2: Retirement Income Exclusion
Issue 3: Sales Tax on Services
Issue 4: Rainy Day Fund
Issue 5: Constitutional Amendment to Limit the Pension Protection Clause
Issue 6: Supplemental Pension Payments
Issue 7: Merger of the Chicago and State Teachers’ Pension Funds
Issue 8: Pension Investment Expense and Asset Allocation
Issue 9: Restructuring Illinois’ Public University System
Issue 10: Prisons
Issue 11: Interest Penalties on Overdue Bills
Issue 12: Consolidating and Streamlining Government Units in Illinois
Issue 13: Comprehensive Capital Improvement Planning and Funding
Issue 14: Prudent Budget Practices
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Content: Issue 13: Comprehensive Capital Improvement Planning and Funding
The Civic Federation recommends that before State of Illinois embarks on a new capital plan, it should comprehensively assess and prioritize its needs for both transportation infrastructure and State facilities. In addition, the State should identify reliable, long-term funding sources. The road and transit portion of the plan should be initially funded by an increase in the motor fuel tax, which has not been raised since 1990. The State should further consider vehicle miles traveled and congestion taxes to ensure the long-term sustainability of transportation funding revenues. The State facilities portion of the plan will require other sources of funding, and these must be more reliable than those used for the FY2010 Illinois Jobs Now! capital plan. Issue 14: Prudent Budget Practices
The Civic Federation believes it is important to warn against certain unwise budgetary practices that have been used in the past and imprudent steps that might be under consideration for the future, such as: Relying on illusory savings, accounting gimmicks or one-time revenues;